Seattle Genetics (NASDAQ:SGEN) Trading 0.4% Higher

Seattle Genetics, Inc. (NASDAQ:SGEN) shares traded up 0.4% during trading on Thursday . The stock traded as high as $76.07 and last traded at $75.48, 59,997 shares changed hands during trading. A decline of 93% from the average session volume of 849,567 shares. The stock had previously closed at $75.17.

Several analysts have recently commented on the stock. Deutsche Bank increased their price target on shares of eBay from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Thursday. William Blair reissued an “outperform” rating on shares of Pivotal Software in a research note on Wednesday, June 5th. Berenberg Bank decreased their price target on shares of Lucara Diamond from C$1.60 to C$1.50 in a research note on Wednesday, March 27th. Zacks Investment Research raised shares of Hudson Technologies from a “sell” rating to a “hold” rating in a research note on Wednesday, May 29th. Finally, HC Wainwright reissued a “buy” rating on shares of Oragenics in a research note on Friday, April 26th. Two analysts have rated the stock with a sell rating, four have given a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $84.08.

The firm has a market capitalization of $10.19 billion, a PE ratio of -46.45 and a beta of 2.05. The stock’s 50 day moving average is $68.83.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.39) by ($0.10). Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.01%. The business had revenue of $218.45 million during the quarter, compared to the consensus estimate of $189.76 million. During the same period in the previous year, the business posted $0.47 earnings per share. Seattle Genetics’s revenue was up 28.4% compared to the same quarter last year. As a group, sell-side analysts expect that Seattle Genetics, Inc. will post -1.36 earnings per share for the current fiscal year.

In other Seattle Genetics news, CEO Clay B. Siegall sold 4,824 shares of the stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $67.43, for a total value of $325,282.32. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Roger D. Dansey sold 5,416 shares of the stock in a transaction on Monday, June 17th. The stock was sold at an average price of $68.60, for a total transaction of $371,537.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,684 shares of company stock worth $5,334,532. Insiders own 33.80% of the company’s stock.

A number of institutional investors and hedge funds have recently bought and sold shares of SGEN. Raymond James & Associates boosted its position in shares of Seattle Genetics by 10.5% during the 4th quarter. Raymond James & Associates now owns 24,429 shares of the biotechnology company’s stock worth $1,384,000 after acquiring an additional 2,326 shares in the last quarter. Advisor Group Inc. boosted its position in shares of Seattle Genetics by 20.8% during the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock worth $77,000 after acquiring an additional 232 shares in the last quarter. Northern Trust Corp boosted its position in shares of Seattle Genetics by 9.3% during the 4th quarter. Northern Trust Corp now owns 670,962 shares of the biotechnology company’s stock worth $38,017,000 after acquiring an additional 57,278 shares in the last quarter. Natixis Advisors L.P. acquired a new position in shares of Seattle Genetics during the 4th quarter worth about $632,000. Finally, Stifel Financial Corp boosted its position in shares of Seattle Genetics by 125.2% during the 4th quarter. Stifel Financial Corp now owns 27,584 shares of the biotechnology company’s stock worth $1,589,000 after acquiring an additional 15,338 shares in the last quarter. Institutional investors own 99.79% of the company’s stock.

Seattle Genetics Company Profile (NASDAQ:SGEN)

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

Further Reading: Preferred Stock

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