Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Todd E. Simpson sold 39,385 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.
Todd E. Simpson also recently made the following trade(s):
- On Wednesday, September 6th, Todd E. Simpson sold 9,638 shares of Seattle Genetics stock. The shares were sold at an average price of $52.00, for a total value of $501,176.00.
- On Monday, August 28th, Todd E. Simpson sold 4,937 shares of Seattle Genetics stock. The shares were sold at an average price of $47.89, for a total value of $236,432.93.
Seattle Genetics, Inc. (SGEN) opened at $57.12 on Tuesday. Seattle Genetics, Inc. has a one year low of $45.31 and a one year high of $73.99.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The business had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. During the same period in the prior year, the business posted ($0.23) earnings per share. Seattle Genetics’s revenue for the quarter was up 27.3% compared to the same quarter last year. sell-side analysts predict that Seattle Genetics, Inc. will post -1.01 earnings per share for the current fiscal year.
SGEN has been the subject of a number of recent research reports. Barclays PLC upgraded Seattle Genetics from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $60.00 to $70.00 in a research report on Friday, October 20th. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Seattle Genetics in a research report on Friday, October 27th. SunTrust Banks, Inc. set a $52.00 price objective on Seattle Genetics and gave the company a “hold” rating in a research report on Friday, October 27th. BidaskClub downgraded Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Finally, Jefferies Group LLC reiterated a “buy” rating and set a $53.00 price objective on shares of Seattle Genetics in a research report on Thursday, July 27th. Two research analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Hold” and an average target price of $63.53.
Institutional investors have recently bought and sold shares of the business. Quantbot Technologies LP increased its position in Seattle Genetics by 116.5% during the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after buying an additional 1,428 shares during the last quarter. First Manhattan Co. increased its position in Seattle Genetics by 31.3% during the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after buying an additional 750 shares during the last quarter. Bristlecone Advisors LLC acquired a new position in Seattle Genetics during the third quarter worth $180,000. Meeder Asset Management Inc. increased its position in Seattle Genetics by 1,580.9% during the second quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after buying an additional 3,715 shares during the last quarter. Finally, DRW Securities LLC acquired a new position in Seattle Genetics during the second quarter worth $207,000. 98.45% of the stock is currently owned by hedge funds and other 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).
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