Seattle Genetics Director Felix Baker Acquires 216,595 Shares (SGEN)
Seattle Genetics (NASDAQ:SGEN) Director Felix Baker acquired 216,595 shares of Seattle Genetics stock on the open market in a transaction that occurred on Friday, June 13th. The stock was purchased at an average cost of $39.92 per share, for a total transaction of $8,646,472.40. Following the completion of the transaction, the director now directly owns 76,997 shares in the company, valued at approximately $3,073,720. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Seattle Genetics (NASDAQ:SGEN) traded up 0.90% during mid-day trading on Monday, hitting $40.45. The stock had a trading volume of 972,170 shares. Seattle Genetics has a 1-year low of $28.15 and a 1-year high of $55.99. The stock has a 50-day moving average of $36.10 and a 200-day moving average of $42.62. The company’s market cap is $4.981 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly 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. Analysts expect that Seattle Genetics will post $-0.91 EPS 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 equities research analyst has rated the stock with a sell rating, two have issued a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus 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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