Seattle Genetics Director Buys $9,829,230 in Stock (SGEN)
Seattle Genetics (NASDAQ:SGEN) Director Felix Baker purchased 281,963 shares of Seattle Genetics stock in a transaction dated Wednesday, June 4th. The shares were purchased at an average price of $34.86 per share, with a total value of $9,829,230.18. Following the transaction, the director now directly owns 76,997 shares in the company, valued at approximately $2,684,115. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of Seattle Genetics (NASDAQ:SGEN) traded up 2.51% during mid-day trading on Wednesday, hitting $36.41. The stock had a trading volume of 1,010,640 shares. Seattle Genetics has a one year low of $28.15 and a one year high of $55.99. The stock’s 50-day moving average is $35.97 and its 200-day moving average is $42.73. The company’s market cap is $4.484 billion.
Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, May 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.21) by $0.08. The company had revenue of $68.30 million for the quarter, compared to the consensus estimate of $64.62 million. During the same quarter in the previous year, the company posted ($0.14) earnings per share. The company’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, analysts predict that Seattle Genetics will post $-0.91 earnings per share for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Bank of America upgraded shares of Seattle Genetics from an “underperform” rating to a “neutral” rating in a research note on Tuesday, May 6th. They now have a $40.00 price target on the stock, down previously from $46.00. Separately, analysts at Cantor Fitzgerald raised their price target on shares of Seattle Genetics from $24.00 to $28.00 in a research note on Friday, May 2nd. Finally, analysts at Jefferies Group reiterated a “buy” rating on shares of Seattle Genetics in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, two have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $46.02.
Seattle Genetics, Inc is biotechnology company focused on the development and commercialization of monoclonal antibody-based therapies for cancer.
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