Insider Selling: Seattle Genetics, Inc. (SGEN) Insider Sells 18,832 Shares of Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction that occurred on Thursday, January 11th. The stock was sold at an average price of $51.71, for a total transaction of $973,802.72. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Clay B. Siegall also recently made the following trade(s):

  • On Monday, December 11th, Clay B. Siegall sold 18,832 shares of Seattle Genetics stock. The stock was sold at an average price of $55.40, for a total transaction of $1,043,292.80.
  • On Friday, November 10th, Clay B. Siegall sold 18,832 shares of Seattle Genetics stock. The stock was sold at an average price of $58.00, for a total transaction of $1,092,256.00.

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $52.56 on Thursday. The firm has a market cap of $7,560.00, a price-to-earnings ratio of -60.41 and a beta of 2.37. Seattle Genetics, Inc. has a one year low of $45.31 and a one year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last posted 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. The firm 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 company’s revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.23) earnings per share. equities analysts predict that Seattle Genetics, Inc. will post -0.93 earnings per share for the current fiscal year.

Several research analysts have recently commented on the stock. BidaskClub cut shares of Seattle Genetics from a “hold” rating to a “sell” rating in a report on Saturday, January 13th. JPMorgan Chase & Co. reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Tuesday, January 9th. Cantor Fitzgerald set a $50.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Monday, January 8th. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Tuesday, January 2nd. Finally, Cowen reissued a “hold” rating and issued a $54.00 price objective on shares of Seattle Genetics in a research note on Monday, December 11th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $63.76.

Several hedge funds and other institutional investors have recently bought and sold shares of SGEN. Schwab Charles Investment Management Inc. grew its stake in shares of Seattle Genetics by 6.1% during the second quarter. Schwab Charles Investment Management Inc. now owns 296,212 shares of the biotechnology company’s stock worth $15,327,000 after buying an additional 17,130 shares during the last quarter. Prudential Financial Inc. grew its stake in shares of Seattle Genetics by 6.8% during the second quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock worth $325,000 after buying an additional 400 shares during the last quarter. Los Angeles Capital Management & Equity Research Inc. bought a new stake in shares of Seattle Genetics during the second quarter worth $343,000. Alliancebernstein L.P. grew its stake in shares of Seattle Genetics by 1.1% during the second quarter. Alliancebernstein L.P. now owns 57,241 shares of the biotechnology company’s stock worth $2,962,000 after buying an additional 603 shares during the last quarter. Finally, Teachers Advisors LLC grew its stake in shares of Seattle Genetics by 55.2% during the second quarter. Teachers Advisors LLC now owns 554,091 shares of the biotechnology company’s stock worth $28,669,000 after buying an additional 197,143 shares during the last quarter. 98.89% of the stock is currently owned by hedge funds and other institutional investors.

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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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