Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Sells $2,348,085.84 in Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall sold 28,472 shares of the company’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $82.47, for a total transaction of $2,348,085.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

  • On Monday, September 9th, Clay B. Siegall sold 28,472 shares of Seattle Genetics stock. The shares were sold at an average price of $68.33, for a total transaction of $1,945,491.76.
  • On Tuesday, September 3rd, Clay B. Siegall sold 9,693 shares of Seattle Genetics stock. The shares were sold at an average price of $70.80, for a total transaction of $686,264.40.
  • On Wednesday, August 28th, Clay B. Siegall sold 28,951 shares of Seattle Genetics stock. The shares were sold at an average price of $73.21, for a total transaction 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 transaction of $1,541,801.48.

Shares of SGEN stock traded up $1.58 during trading hours on Thursday, hitting $81.55. 814,994 shares of the company were exchanged, compared to its average volume of 902,274. Seattle Genetics, Inc. has a one year low of $50.71 and a one year high of $88.20. The business’s 50-day simple moving average is $75.46 and its two-hundred day simple moving average is $72.37. The stock has a market capitalization of $13.65 billion, a price-to-earnings ratio of -49.42 and a beta of 1.95.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the consensus estimate of ($0.39) by ($0.10). The business had revenue of $218.45 million for the quarter, compared to analyst estimates 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 revenue was up 28.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 EPS. As a group, sell-side analysts expect that Seattle Genetics, Inc. will post -1.34 EPS for the current fiscal year.

A number of research firms have weighed in on SGEN. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Wednesday, September 25th. Deutsche Bank increased their price target on shares of Seattle Genetics from $79.00 to $88.00 and gave the stock a “hold” rating in a research report on Wednesday, October 2nd. Cowen set a $80.00 price target on shares of Seattle Genetics and gave the stock a “hold” rating in a research report on Monday, September 30th. Oppenheimer increased their price target on shares of Seattle Genetics from $82.00 to $92.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Seattle Genetics in a research report on Friday, September 27th. One analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $86.79.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. CSat Investment Advisory L.P. acquired a new stake in Seattle Genetics during the second quarter worth about $27,000. BSW Wealth Partners acquired a new stake in Seattle Genetics during the second quarter worth about $29,000. Glen Harbor Capital Management LLC acquired a new stake in Seattle Genetics during the second quarter worth about $44,000. Tyers Asset Management LLC acquired a new stake in Seattle Genetics during the second quarter worth about $61,000. Finally, Resources Investment Advisors LLC. raised its stake in Seattle Genetics by 310.0% during the second quarter. Resources Investment Advisors LLC. now owns 1,025 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 775 shares during the period. Hedge funds and other institutional investors own 98.86% 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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