Insider Selling: Seattle Genetics, Inc. (NASDAQ:SGEN) Insider Sells 6,377 Shares of Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) insider Vaughn B. Himes sold 6,377 shares of Seattle Genetics stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $47.89, for a total value of $305,394.53. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

Vaughn B. Himes also recently made the following trade(s):

  • On Friday, September 8th, Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock. The shares were sold at an average price of $53.22, for a total value of $532,200.00.

Seattle Genetics, Inc. (NASDAQ SGEN) opened at 53.79 on Friday. The stock’s 50 day moving average price is $49.62 and its 200-day moving average price is $59.17. The firm’s market capitalization is $7.69 billion. Seattle Genetics, Inc. has a one year low of $45.31 and a one year high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. During the same period last year, the firm posted ($0.23) earnings per share. The business’s revenue was up 13.4% on a year-over-year basis. On average, equities research analysts expect that Seattle Genetics, Inc. will post ($1.68) EPS for the current fiscal year.

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Several equities research analysts have recently issued reports on the company. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Seattle Genetics in a report on Saturday, June 3rd. Cowen and Company set a $61.00 price target on Seattle Genetics and gave the company a “hold” rating in a report on Tuesday, June 6th. Cantor Fitzgerald set a $43.00 price target on Seattle Genetics and gave the company a “hold” rating in a report on Monday, June 19th. Cann reiterated a “hold” rating on shares of Seattle Genetics in a report on Monday, June 19th. Finally, ValuEngine upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a report on Friday, June 2nd. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $61.77.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. lifted its position in shares of Seattle Genetics by 2.3% in the second quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock valued at $389,628,000 after buying an additional 167,828 shares during the last quarter. BlackRock Inc. lifted its position in shares of Seattle Genetics by 2.6% in the second quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock valued at $385,644,000 after buying an additional 185,823 shares during the last quarter. State Street Corp lifted its position in shares of Seattle Genetics by 10.9% in the first quarter. State Street Corp now owns 2,845,120 shares of the biotechnology company’s stock valued at $178,847,000 after buying an additional 279,079 shares during the last quarter. Capital International Investors lifted its position in shares of Seattle Genetics by 34.3% in the second quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock valued at $140,970,000 after buying an additional 695,986 shares during the last quarter. Finally, Matrix Capital Management Company LP lifted its position in shares of Seattle Genetics by 18.8% in the second quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock valued at $109,585,000 after buying an additional 335,000 shares during the last quarter. 97.70% of the stock is owned by institutional investors.

About Seattle Genetics

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

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

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