Marc E. Lippman Sells 1,000 Shares of Seattle Genetics Inc. (SGEN) Stock
Seattle Genetics Inc. (NASDAQ:SGEN) Director Marc E. Lippman sold 1,000 shares of the business’s stock in a transaction on Monday, November 7th. The shares were sold at an average price of $57.75, for a total transaction of $57,750.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website.
Shares of Seattle Genetics Inc. (NASDAQ:SGEN) opened at 67.94 on Friday. The company has a 50-day moving average of $54.70 and a 200-day moving average of $45.76. Seattle Genetics Inc. has a 1-year low of $26.02 and a 1-year high of $75.36. The stock’s market capitalization is $9.62 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, October 27th. The company reported ($0.23) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.29) by $0.06. The company had revenue of $106.30 million for the quarter, compared to analyst estimates of $4.34 million. Seattle Genetics had a negative return on equity of 16.27% and a negative net margin of 27.03%. The firm’s revenue for the quarter was up 26.4% on a year-over-year basis. During the same quarter last year, the firm posted ($0.21) EPS. On average, equities research analysts expect that Seattle Genetics Inc. will post ($0.95) EPS for the current fiscal year.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised its position in shares of Seattle Genetics by 283.9% in the first quarter. BlackRock Inc. now owns 11,654 shares of the company’s stock worth $408,000 after buying an additional 8,618 shares during the last quarter. BlackRock Group LTD increased its stake in shares of Seattle Genetics by 18.4% in the first quarter. BlackRock Group LTD now owns 102,261 shares of the company’s stock worth $3,589,000 after buying an additional 15,873 shares during the period. State Street Corp increased its stake in shares of Seattle Genetics by 18.3% in the first quarter. State Street Corp now owns 2,319,710 shares of the company’s stock worth $81,406,000 after buying an additional 358,297 shares during the period. Geode Capital Management LLC increased its stake in shares of Seattle Genetics by 7.9% in the first quarter. Geode Capital Management LLC now owns 711,458 shares of the company’s stock worth $24,965,000 after buying an additional 52,065 shares during the period. Finally, Bellevue Group AG bought a new stake in shares of Seattle Genetics during the first quarter worth about $2,386,000. Institutional investors own 97.21% of the company’s stock.
SGEN has been the topic of a number of analyst reports. Cantor Fitzgerald cut shares of Seattle Genetics from a “buy” rating to a “hold” rating and set a $43.00 price objective on the stock. in a research report on Wednesday, July 27th. SunTrust Banks Inc. boosted their price objective on shares of Seattle Genetics from $34.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, July 27th. Barclays PLC boosted their price objective on shares of Seattle Genetics from $48.00 to $53.00 and gave the company an “overweight” rating in a research report on Wednesday, July 27th. RBC Capital Markets reiterated an “outperform” rating on shares of Seattle Genetics in a research report on Wednesday, July 27th. Finally, Leerink Swann boosted their price objective on shares of Seattle Genetics from $50.00 to $52.00 and gave the company an “outperform” rating in a research report on Monday, August 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and nine have given a buy rating to the company’s stock. Seattle Genetics has an average rating of “Hold” and an average target price of $51.53.
Seattle Genetics Company Profile
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
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