Insider Selling: Seattle Genetics, Inc. (SGEN) COO Sells 35,000 Shares of Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) COO Eric Dobmeier sold 35,000 shares of Seattle Genetics stock in a transaction on Friday, November 17th. The stock was sold at an average price of $58.25, for a total transaction of $2,038,750.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

Eric Dobmeier also recently made the following trade(s):

  • On Wednesday, November 15th, Eric Dobmeier sold 9,600 shares of Seattle Genetics stock. The stock was sold at an average price of $57.80, for a total transaction of $554,880.00.
  • On Thursday, August 31st, Eric Dobmeier sold 25,000 shares of Seattle Genetics stock. The stock was sold at an average price of $52.24, for a total transaction of $1,306,000.00.
  • On Monday, August 28th, Eric Dobmeier sold 5,343 shares of Seattle Genetics stock. The stock was sold at an average price of $47.89, for a total transaction of $255,876.27.

Seattle Genetics, Inc. (NASDAQ SGEN) traded down $1.57 on Monday, reaching $57.88. 544,958 shares of the company traded hands, compared to its average volume of 964,501. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.42) by $0.23. The business had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.23) EPS. equities analysts predict that Seattle Genetics, Inc. will post -0.93 earnings per share for the current fiscal year.

A number of analysts have commented on the stock. Cantor Fitzgerald set a $46.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Wednesday, August 16th. Barclays lifted their target price on shares of Seattle Genetics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a report on Monday, October 16th. Cowen reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Sunday, October 29th. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Friday, September 8th. Finally, Morgan Stanley lifted their price target on shares of Seattle Genetics from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $63.53.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Griffin Asset Management Inc. bought a new stake in Seattle Genetics in the 3rd quarter valued at $260,000. Virtu Financial LLC bought a new stake in Seattle Genetics in the 3rd quarter valued at $203,000. Capital Bank & Trust Co lifted its position in Seattle Genetics by 43.7% in the 3rd quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after acquiring an additional 253,753 shares in the last quarter. Capital International Investors lifted its position in Seattle Genetics by 63.7% in the 3rd quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock valued at $242,682,000 after acquiring an additional 1,735,657 shares in the last quarter. Finally, Capital Guardian Trust Co. lifted its position in Seattle Genetics by 82.2% in the 3rd quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock valued at $57,909,000 after acquiring an additional 480,044 shares in the last quarter. 98.96% of the stock is currently owned by institutional investors and hedge funds.

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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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