Insider Selling: Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Sells 28,472 Shares of Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall sold 28,472 shares of the stock in a transaction on Monday, September 9th. The shares were sold at an average price of $68.33, for a total value of $1,945,491.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Clay B. Siegall also recently made the following trade(s):

  • On Tuesday, September 3rd, Clay B. Siegall sold 9,693 shares of Seattle Genetics stock. The stock was sold at an average price of $70.80, for a total value of $686,264.40.
  • On Wednesday, August 28th, Clay B. Siegall sold 28,951 shares of Seattle Genetics stock. The stock was sold at an average price of $73.21, for a total value of $2,119,502.71.
  • On Thursday, August 8th, Clay B. Siegall sold 20,149 shares of Seattle Genetics stock. The shares were sold at an average price of $76.52, for a total value of $1,541,801.48.
  • On Monday, July 8th, Clay B. Siegall sold 20,148 shares of Seattle Genetics stock. The shares were sold at an average price of $66.89, for a total value of $1,347,699.72.

SGEN stock traded up $0.86 during mid-day trading on Tuesday, reaching $68.65. The company’s stock had a trading volume of 842,954 shares, compared to its average volume of 889,245. Seattle Genetics, Inc. has a 12 month low of $50.71 and a 12 month high of $84.37. The business’s 50 day moving average price is $75.06 and its 200 day moving average price is $71.72. The company has a market cap of $11.10 billion, a price-to-earnings ratio of -41.61 and a beta of 1.97.

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 analysts’ consensus estimates of ($0.39) by ($0.10). The business had revenue of $218.45 million for the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. Seattle Genetics’s quarterly revenue was up 28.4% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.47 earnings per share. Research analysts anticipate that Seattle Genetics, Inc. will post -1.31 earnings per share for the current fiscal year.

SGEN has been the subject of a number of analyst reports. William Blair restated a “buy” rating on shares of Seattle Genetics in a research report on Friday, July 19th. Piper Jaffray Companies raised Seattle Genetics from a “neutral” rating to an “overweight” rating and lifted their price objective for the stock from $64.00 to $75.00 in a research note on Wednesday, July 17th. BidaskClub cut Seattle Genetics from a “sell” rating to a “strong sell” rating in a report on Tuesday. ValuEngine upgraded shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 17th. Finally, Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 price target on the stock in a research report on Wednesday, May 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. Seattle Genetics currently has an average rating of “Buy” and a consensus target price of $84.36.

Several institutional investors have recently added to or reduced their stakes in SGEN. CSat Investment Advisory L.P. bought a new position in Seattle Genetics during the second quarter worth $27,000. BSW Wealth Partners bought a new stake in Seattle Genetics in the 2nd quarter valued at about $29,000. Glen Harbor Capital Management LLC bought a new stake in Seattle Genetics in the 2nd quarter valued at about $44,000. Tyers Asset Management LLC acquired a new position in Seattle Genetics during the 2nd quarter worth approximately $61,000. Finally, Resources Investment Advisors LLC. raised its stake in Seattle Genetics by 310.0% during the 2nd quarter. Resources Investment Advisors LLC. now owns 1,025 shares of the biotechnology company’s stock worth $71,000 after buying an additional 775 shares during the period. Institutional investors own 99.14% of the company’s stock.

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.

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

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