Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Sells $1,000,000.00 in Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Todd E. Simpson sold 12,500 shares of the business’s stock in a transaction on Tuesday, August 20th. The stock was sold at an average price of $80.00, for a total value of $1,000,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website.

Shares of NASDAQ SGEN traded down $1.61 during trading on Thursday, hitting $78.36. The company had a trading volume of 430,799 shares, compared to its average volume of 909,863. The company has a market cap of $12.89 billion, a P/E ratio of -47.49 and a beta of 2.04. Seattle Genetics, Inc. has a 52 week low of $50.71 and a 52 week high of $84.37. The business’s 50-day moving average is $73.54 and its 200 day moving average is $71.51.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). The company had revenue of $218.45 million during the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.16%. Seattle Genetics’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.47 EPS. As a group, equities research analysts expect that Seattle Genetics, Inc. will post -1.31 earnings per share for the current fiscal year.

Large investors have recently made changes to their positions in the business. CSat Investment Advisory L.P. acquired a new stake in Seattle Genetics during the 2nd quarter valued at $27,000. BSW Wealth Partners acquired a new stake in Seattle Genetics during the 2nd quarter valued at $29,000. Glen Harbor Capital Management LLC acquired a new stake in Seattle Genetics during the 2nd quarter valued at $44,000. Quadrant Capital Group LLC raised its stake in Seattle Genetics by 424.7% during the 1st quarter. Quadrant Capital Group LLC now owns 850 shares of the biotechnology company’s stock valued at $60,000 after purchasing an additional 688 shares during the period. Finally, Tyers Asset Management LLC acquired a new stake in Seattle Genetics during the 2nd quarter valued at $61,000. 98.23% of the stock is currently owned by institutional investors.

A number of equities research analysts have weighed in on SGEN shares. Piper Jaffray Companies upgraded Seattle Genetics from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $64.00 to $75.00 in a research report on Wednesday, July 17th. ValuEngine upgraded Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, July 17th. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a report on Wednesday, August 7th. HC Wainwright reaffirmed a “buy” rating on shares of Seattle Genetics in a report on Friday, April 26th. Finally, Zacks Investment Research raised Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. Seattle Genetics currently has a consensus rating of “Buy” and an average price target of $84.36.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

Read More: How is Preferred Stock Different from Common Stock?

Insider Buying and Selling by Quarter for Seattle Genetics (NASDAQ:SGEN)

Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.