Seattle Genetics, Inc. (NASDAQ:SGEN) CMO Jonathan G. Drachman sold 8,502 shares of the company’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $47.89, for a total transaction of $407,160.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Jonathan G. Drachman also recently made the following trade(s):

  • On Thursday, August 24th, Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock. The shares were sold at an average price of $47.54, for a total transaction of $475,400.00.
  • On Thursday, July 27th, Jonathan G. Drachman sold 10,000 shares of Seattle Genetics stock. The shares were sold at an average price of $54.54, for a total transaction of $545,400.00.

Seattle Genetics, Inc. (NASDAQ:SGEN) traded up 5.633% during midday trading on Thursday, hitting $52.584. 1,335,256 shares of the stock traded hands. Seattle Genetics, Inc. has a 1-year low of $43.71 and a 1-year high of $75.36. The firm’s market cap is $7.52 billion. The company has a 50-day moving average price of $50.25 and a 200-day moving average price of $60.29.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The company had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same quarter last year, the firm posted ($0.23) earnings per share. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Analysts predict that Seattle Genetics, Inc. will post ($1.69) EPS for the current year.

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Several institutional investors have recently added to or reduced their stakes in SGEN. Verition Fund Management LLC purchased a new position in Seattle Genetics during the second quarter worth approximately $338,000. Tower Research Capital LLC TRC raised its position in shares of Seattle Genetics by 6,835.5% in the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock worth $223,000 after buying an additional 4,238 shares during the period. DRW Securities LLC bought a new position in shares of Seattle Genetics during the second quarter worth about $207,000. The Manufacturers Life Insurance Company raised its position in shares of Seattle Genetics by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock worth $250,000 after buying an additional 299 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Seattle Genetics by 6.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock worth $2,080,000 after buying an additional 2,500 shares during the period. 97.70% of the stock is currently owned by institutional investors.

Several analysts have issued reports on SGEN shares. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d” rating in a report on Tuesday, May 9th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $43.00 price target on shares of Seattle Genetics in a report on Monday, June 26th. ValuEngine downgraded shares of Seattle Genetics from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a report on Thursday, July 27th. Finally, William Blair reaffirmed an “outperform” rating on shares of Seattle Genetics in a report on Monday, June 26th. Five research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $62.29.

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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