Insider Selling: Clay B. Siegall Unloads 11,200 Shares of Seattle Genetics Stock (SGEN)
Seattle Genetics (NASDAQ:SGEN) CEO Clay B. Siegall sold 11,200 shares of Seattle Genetics stock on the open market in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $40.14, for a total transaction of $449,568.00. Following the transaction, the chief executive officer now directly owns 525,217 shares of the company’s stock, valued at approximately $21,082,210. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.
Shares of Seattle Genetics (NASDAQ:SGEN) traded down 0.05% on Thursday, hitting $40.10. 741,406 shares of the company’s stock traded hands. Seattle Genetics has a 52-week low of $28.15 and a 52-week high of $55.99. The stock’s 50-day moving average is $35. and its 200-day moving average is $42.6. The company’s market cap is $4.938 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.
A number of analysts have recently weighed in on SGEN shares. 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 equities research analyst has rated the stock with a sell rating, two have given a hold rating and four have issued a buy rating to the company’s stock. Seattle Genetics currently has an average rating of “Hold” and a consensus price target 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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