Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Todd E. Simpson sold 39,385 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

Todd E. Simpson also recently made the following trade(s):

  • On Wednesday, September 6th, Todd E. Simpson sold 9,638 shares of Seattle Genetics stock. The stock was sold at an average price of $52.00, for a total value of $501,176.00.
  • On Monday, August 28th, Todd E. Simpson sold 4,937 shares of Seattle Genetics stock. The stock was sold at an average price of $47.89, for a total value of $236,432.93.

Seattle Genetics, Inc. (NASDAQ SGEN) traded down $0.53 during trading hours on Friday, reaching $60.78. The company had a trading volume of 652,975 shares, compared to its average volume of 1,182,885.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 33.16% and a negative net margin of 26.53%. The business had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. During the same quarter last year, the firm posted ($0.23) earnings per share. The business’s revenue was up 27.3% compared to the same quarter last year. analysts forecast that Seattle Genetics, Inc. will post -1.01 earnings per share for the current year.

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A number of hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Seattle Genetics by 2.3% in the second quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock worth $389,628,000 after purchasing an additional 167,828 shares during the period. BlackRock Inc. increased its stake in Seattle Genetics by 2.6% in the second quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock worth $385,644,000 after purchasing an additional 185,823 shares during the period. Capital International Investors increased its stake in Seattle Genetics by 34.3% in the second quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock worth $140,970,000 after purchasing an additional 695,986 shares during the period. Matrix Capital Management Company LP increased its stake in Seattle Genetics by 18.8% in the second quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock worth $109,585,000 after purchasing an additional 335,000 shares during the period. Finally, Pictet Asset Management Ltd. increased its stake in Seattle Genetics by 79.3% in the third quarter. Pictet Asset Management Ltd. now owns 1,266,426 shares of the biotechnology company’s stock worth $68,906,000 after purchasing an additional 560,110 shares during the period. Institutional investors and hedge funds own 97.13% of the company’s stock.

Several research firms have weighed in on SGEN. Barclays PLC upgraded Seattle Genetics from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $60.00 to $70.00 in a research note on Friday, October 20th. Zacks Investment Research downgraded Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Monday, October 16th. SunTrust Banks, Inc. set a $52.00 target price on Seattle Genetics and gave the company a “hold” rating in a research report on Friday, October 27th. Cowen and Company reiterated a “hold” rating on shares of Seattle Genetics in a research report on Sunday, October 29th. Finally, J P Morgan Chase & Co increased their target price on Seattle Genetics from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of “Hold” and a consensus target price of $63.00.

Seattle Genetics Company Profile

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

Insider Buying and Selling by Quarter for Seattle Genetics (NASDAQ:SGEN)

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