Traders Buy Large Volume of Call Options on Seattle Genetics (SGEN)

Seattle Genetics, Inc. (NASDAQ:SGEN) was the recipient of unusually large options trading on Wednesday. Traders bought 1,589 call options on the stock. This is an increase of approximately 1,132% compared to the typical daily volume of 129 call options.

In other news, insider Vaughn B. Himes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $59.97, for a total value of $599,700.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, COO Eric Dobmeier sold 3,729 shares of the firm’s stock in a transaction dated Monday, December 4th. The stock was sold at an average price of $58.75, for a total value of $219,078.75. The disclosure for this sale can be found here. Insiders sold 70,225 shares of company stock worth $3,772,766 in the last ninety days. Corporate insiders own 34.70% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company grew its holdings in Seattle Genetics by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares in the last quarter. Eqis Capital Management Inc. grew its holdings in Seattle Genetics by 3.6% during the 4th quarter. Eqis Capital Management Inc. now owns 26,087 shares of the biotechnology company’s stock valued at $1,396,000 after buying an additional 916 shares in the last quarter. JGP Global Gestao de Recursos Ltda. grew its holdings in Seattle Genetics by 4.9% during the 3rd quarter. JGP Global Gestao de Recursos Ltda. now owns 20,603 shares of the biotechnology company’s stock valued at $1,121,000 after buying an additional 969 shares in the last quarter. Advisors Asset Management Inc. grew its holdings in Seattle Genetics by 8.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 12,663 shares of the biotechnology company’s stock valued at $689,000 after buying an additional 1,012 shares in the last quarter. Finally, Amalgamated Bank grew its holdings in Seattle Genetics by 5.8% during the 4th quarter. Amalgamated Bank now owns 19,142 shares of the biotechnology company’s stock valued at $1,024,000 after buying an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 90.99% of the company’s stock.

Shares of Seattle Genetics (SGEN) opened at $54.11 on Thursday. Seattle Genetics has a 1 year low of $45.31 and a 1 year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.43) by $0.02. The firm had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The firm’s revenue was up 23.1% on a year-over-year basis. During the same quarter last year, the business posted ($0.39) earnings per share. equities analysts predict that Seattle Genetics will post -1.59 EPS for the current year.

SGEN has been the topic of several recent research reports. HC Wainwright reaffirmed a “buy” rating and issued a $75.00 price objective on shares of Seattle Genetics in a research note on Friday, October 27th. Jefferies Group reaffirmed a “buy” rating and issued a $53.00 price objective on shares of Seattle Genetics in a research note on Thursday, October 26th. Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $70.00 price objective on the stock in a research note on Tuesday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and issued a $74.00 price objective (up previously from $72.00) on shares of Seattle Genetics in a research note on Wednesday, February 7th. Finally, TheStreet raised Seattle Genetics from a “d” rating to a “c” rating in a research note on Thursday, November 16th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eleven have issued a buy rating to the company. Seattle Genetics has a consensus rating of “Hold” and an average target price of $64.25.

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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 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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