Seattle Genetics, Inc. (NASDAQ:SGEN) saw unusually large options trading activity on Wednesday. Stock investors acquired 4,420 put options on the stock. This represents an increase of 1,975% compared to the average volume of 213 put options.
Several research analysts have weighed in on the stock. ValuEngine lowered shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. BidaskClub lowered shares of Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Berenberg Bank assumed coverage on shares of Seattle Genetics in a research report on Wednesday, March 27th. They set a “buy” rating and a $95.00 target price on the stock. Zacks Investment Research upgraded shares of Seattle Genetics from a “strong sell” rating to a “hold” rating in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. restated a “buy” rating on shares of Seattle Genetics in a research report on Sunday, April 28th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Seattle Genetics presently has an average rating of “Buy” and a consensus target price of $84.45.
In other Seattle Genetics news, CFO Todd E. Simpson sold 10,000 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Clay B. Siegall sold 20,148 shares of the company’s stock in a transaction dated Friday, February 8th. The stock was sold at an average price of $65.17, for a total transaction of $1,313,045.16. The disclosure for this sale can be found here. Insiders have sold 95,944 shares of company stock worth $6,945,020 over the last 90 days. 33.80% of the stock is currently owned by company insiders.
Several hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Seattle Genetics by 0.7% in the fourth quarter. BlackRock Inc. now owns 9,104,981 shares of the biotechnology company’s stock valued at $515,888,000 after purchasing an additional 62,743 shares during the last quarter. Vanguard Group Inc grew its position in shares of Seattle Genetics by 1.7% in the third quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock valued at $687,461,000 after purchasing an additional 148,979 shares during the last quarter. First Trust Advisors LP grew its position in shares of Seattle Genetics by 13.0% in the fourth quarter. First Trust Advisors LP now owns 2,011,114 shares of the biotechnology company’s stock valued at $113,950,000 after purchasing an additional 231,919 shares during the last quarter. Manning & Napier Group LLC boosted its position in Seattle Genetics by 9.1% during the fourth quarter. Manning & Napier Group LLC now owns 1,625,891 shares of the biotechnology company’s stock worth $92,122,000 after acquiring an additional 135,280 shares during the last quarter. Finally, Frontier Capital Management Co. LLC boosted its position in Seattle Genetics by 7.8% during the first quarter. Frontier Capital Management Co. LLC now owns 1,258,153 shares of the biotechnology company’s stock worth $92,147,000 after acquiring an additional 91,185 shares during the last quarter.
SGEN stock opened at $68.16 on Thursday. The company has a market capitalization of $10.90 billion, a PE ratio of -41.31 and a beta of 2.22. Seattle Genetics has a 12 month low of $50.71 and a 12 month high of $84.37.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.33) by $0.25. The business had revenue of $195.20 million for the quarter, compared to analyst estimates of $186.79 million. Seattle Genetics had a negative net margin of 17.52% and a negative return on equity of 16.09%. The company’s quarterly revenue was up 38.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.73) earnings per share. Sell-side analysts predict that Seattle Genetics will post -1.36 EPS for the current fiscal year.
Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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