Insider Selling: Seattle Genetics CEO Sells 2,000 Shares of Stock (SGEN)
Seattle Genetics (NASDAQ:SGEN) CEO Clay Siegall unloaded 2,000 shares of the stock on the open market in a transaction dated Tuesday, October 1st. The shares were sold at an average price of $43.87, for a total transaction of $87,740.00. Following the sale, the chief executive officer now directly owns 1,024,558 shares in the company, valued at approximately $44,947,359. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 0.42% on Friday, hitting $45.35. The stock had a trading volume of 529,010 shares. Seattle Genetics has a one year low of $21.05 and a one year high of $49.23. The stock has a 50-day moving average of $44.37 and a 200-day moving average of $38.29. The company’s market cap is $5.526 billion.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Wednesday, July 31st. The company reported ($0.06) EPS for the quarter, beating the Thomson Reuters consensus estimate of ($0.20) by $0.14. The company had revenue of $773.60 million for the quarter, compared to the consensus estimate of $58.12 million. During the same quarter in the prior year, the company posted ($0.15) earnings per share. The company’s quarterly revenue was up 1485.2% on a year-over-year basis.
SGEN has been the subject of a number of recent research reports. Analysts at Goldman Sachs Group Inc. raised their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $37.00 to $42.00 in a research note to investors on Wednesday, September 18th. Separately, analysts at Leerink Swann raised their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $42.00 to $53.00 in a research note to investors on Monday, August 5th. Finally, analysts at Credit Suisse raised their price target on shares of Seattle Genetics (NASDAQ:SGEN) from $40.00 to $46.00 in a research note to investors on Friday, August 2nd. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $39.58.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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