Seattle Genetics, Inc. (SGEN) COO Eric Dobmeier Sells 35,000 Shares of Stock
Seattle Genetics, Inc. (NASDAQ:SGEN) COO Eric Dobmeier sold 35,000 shares of the stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $58.25, for a total transaction of $2,038,750.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link.
Eric Dobmeier also recently made the following trade(s):
- On Wednesday, November 15th, Eric Dobmeier sold 9,600 shares of Seattle Genetics stock. The shares were sold at an average price of $57.80, for a total value of $554,880.00.
- On Thursday, August 31st, Eric Dobmeier sold 25,000 shares of Seattle Genetics stock. The shares were sold at an average price of $52.24, for a total value of $1,306,000.00.
- On Monday, August 28th, Eric Dobmeier sold 5,343 shares of Seattle Genetics stock. The shares were sold at an average price of $47.89, for a total value of $255,876.27.
Seattle Genetics, Inc. (SGEN) traded up $0.50 during mid-day trading on Friday, reaching $59.79. The company’s stock had a trading volume of 665,570 shares, compared to its average volume of 973,109. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $73.91.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The business had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. During the same quarter last year, the firm posted ($0.23) earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. sell-side analysts expect that Seattle Genetics, Inc. will post -0.93 EPS for the current year.
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Hedge funds have recently added to or reduced their stakes in the business. Quantbot Technologies LP increased its stake in Seattle Genetics by 116.5% in the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,428 shares during the period. First Manhattan Co. increased its stake in Seattle Genetics by 31.3% in the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 750 shares during the period. Bristlecone Advisors LLC purchased a new stake in Seattle Genetics in the third quarter worth $180,000. Virtu Financial LLC purchased a new stake in Seattle Genetics in the third quarter worth $203,000. Finally, Meeder Asset Management Inc. increased its stake in Seattle Genetics by 1,580.9% in the second quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 3,715 shares during the period. Institutional investors and hedge funds own 98.45% of the company’s stock.
A number of research analysts have recently commented on the company. TheStreet upgraded Seattle Genetics from a “d” rating to a “c” rating in a research report on Thursday. Guggenheim reiterated a “buy” rating and set a $72.00 target price on shares of Seattle Genetics in a research report on Monday, October 23rd. Royal Bank Of Canada assumed coverage on Seattle Genetics in a research report on Thursday, September 14th. They set an “outperform” rating and a $58.00 target price for the company. ValuEngine downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a research report on Friday, July 28th. Finally, The Goldman Sachs Group, Inc. reiterated a “neutral” rating and set a $64.00 target price on shares of Seattle Genetics in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $63.53.
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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