Insider Selling: Eric Dobmeier Unloads 56,010 Shares of Seattle Genetics Stock (SGEN)
Seattle Genetics (NASDAQ:SGEN) COO Eric Dobmeier sold 56,010 shares of the stock on the open market in a transaction that occurred on Tuesday, January 21st. The shares were sold at an average price of $47.92, for a total value of $2,683,999.20. Following the sale, the chief operating officer now directly owns 77,833 shares in the company, valued at approximately $3,729,757. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
SGEN has been the subject of a number of recent research reports. Analysts at RBC Capital raised their price target on shares of Seattle Genetics from $44.00 to $48.00 in a research note to investors on Friday, December 20th. Analysts at Piper Jaffray reiterated an “underweight” rating on shares of Seattle Genetics in a research note to investors on Monday, December 9th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $42.24.
Seattle Genetics (NASDAQ:SGEN) traded down 0.79% on Thursday, hitting $47.59. 765,645 shares of the company’s stock traded hands. Seattle Genetics has a 1-year low of $26.60 and a 1-year high of $49.45. The stock has a 50-day moving average of $41.7 and a 200-day moving average of $41.67. The company’s market cap is $5.829 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, November 5th. The company reported ($0.19) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.22) by $0.03. The company had revenue of $71.00 million for the quarter, compared to the consensus estimate of $57.79 million. During the same quarter in the previous year, the company posted ($0.12) earnings per share. The company’s revenue for the quarter was up 42.5% on a year-over-year basis. Analysts expect that Seattle Genetics will post $-0.63 EPS for the current fiscal year.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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