Insider Selling: Seattle Genetics, Inc. (NASDAQ:SGEN) Insider Sells 20,148 Shares of Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) insider Clay B. Siegall sold 20,148 shares of the stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $69.05, for a total value of $1,391,219.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

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

  • On Thursday, May 9th, Clay B. Siegall sold 4,824 shares of Seattle Genetics stock. The stock was sold at an average price of $67.43, for a total value of $325,282.32.
  • On Thursday, May 9th, Clay B. Siegall sold 20,148 shares of Seattle Genetics stock. The stock was sold at an average price of $68.06, for a total value of $1,371,272.88.
  • On Monday, April 8th, Clay B. Siegall sold 20,148 shares of Seattle Genetics stock. The shares were sold at an average price of $79.22, for a total value of $1,596,124.56.

Shares of SGEN stock traded down $1.38 on Friday, hitting $69.05. The company had a trading volume of 560,994 shares, compared to its average volume of 654,053. The stock has a market capitalization of $11.14 billion, a price-to-earnings ratio of -41.85 and a beta of 2.05. The company’s 50-day simple moving average is $68.89. Seattle Genetics, Inc. has a twelve month low of $50.71 and a twelve month high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, April 25th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.33) by $0.25. The business had revenue of $195.20 million during the quarter, compared to analysts’ expectations of $186.79 million. Seattle Genetics had a negative return on equity of 16.09% and a negative net margin of 17.52%. The company’s revenue for the quarter was up 38.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.73) EPS. Research analysts forecast that Seattle Genetics, Inc. will post -1.36 EPS for the current year.

A number of brokerages have recently commented on SGEN. William Blair reiterated an “outperform” rating on shares of Seattle Genetics in a report on Monday, March 25th. BidaskClub raised Seattle Genetics from a “hold” rating to a “buy” rating in a research report on Monday, June 10th. ValuEngine downgraded Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 1st. HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a research note on Friday, April 26th. Finally, Berenberg Bank began coverage on Seattle Genetics in a research note on Wednesday, March 27th. They set a “buy” rating and a $95.00 price target on the stock. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $83.55.

Several hedge funds have recently modified their holdings of the company. Primecap Management Co. CA lifted its holdings in shares of Seattle Genetics by 0.7% in the 1st quarter. Primecap Management Co. CA now owns 14,231,300 shares of the biotechnology company’s stock valued at $1,042,300,000 after buying an additional 96,100 shares during the period. BlackRock Inc. raised its holdings in Seattle Genetics by 1.1% in the 1st quarter. BlackRock Inc. now owns 9,203,833 shares of the biotechnology company’s stock worth $674,089,000 after purchasing an additional 98,852 shares during the period. Vanguard Group Inc raised its holdings in Seattle Genetics by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock worth $687,461,000 after purchasing an additional 148,979 shares during the period. First Trust Advisors LP raised its holdings in Seattle Genetics by 13.0% in the 4th quarter. First Trust Advisors LP now owns 2,011,114 shares of the biotechnology company’s stock worth $113,950,000 after purchasing an additional 231,919 shares during the period. Finally, Frontier Capital Management Co. LLC raised its holdings in Seattle Genetics by 7.8% in the 1st quarter. Frontier Capital Management Co. LLC now owns 1,258,153 shares of the biotechnology company’s stock worth $92,147,000 after purchasing an additional 91,185 shares during the period. 99.79% of the stock is owned by institutional investors and hedge funds.

Seattle Genetics Company Profile

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.

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Insider Buying and Selling by Quarter for Seattle Genetics (NASDAQ:SGEN)

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