Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall Sells 28,472 Shares of Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction on Monday, February 10th. The shares were sold at an average price of $114.61, for a total value of $3,263,175.92. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Clay B. Siegall also recently made the following trade(s):

  • On Wednesday, January 8th, Clay B. Siegall sold 28,472 shares of Seattle Genetics stock. The stock was sold at an average price of $111.32, for a total value of $3,169,503.04.
  • On Monday, December 9th, Clay B. Siegall sold 28,472 shares of Seattle Genetics stock. The stock was sold at an average price of $114.56, for a total value of $3,261,752.32.

NASDAQ:SGEN opened at $118.22 on Friday. The business has a 50 day moving average of $112.39 and a 200 day moving average of $97.37. The company has a market capitalization of $20.34 billion, a price-to-earnings ratio of -120.63 and a beta of 2.00. Seattle Genetics, Inc. has a 1-year low of $62.90 and a 1-year high of $124.32.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, February 6th. The biotechnology company reported $0.15 EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.60. The business had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $219.21 million. Seattle Genetics had a negative net margin of 17.31% and a negative return on equity of 13.99%. The business’s quarterly revenue was up 66.1% on a year-over-year basis. During the same period last year, the business earned ($0.75) earnings per share. On average, research analysts anticipate that Seattle Genetics, Inc. will post -1.81 EPS for the current fiscal year.

A number of analysts have recently issued reports on SGEN shares. HC Wainwright reiterated a “buy” rating and set a $150.00 price target (up previously from $140.00) on shares of Seattle Genetics in a research report on Wednesday. Morgan Stanley decreased their price objective on shares of Seattle Genetics from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. Bank of America initiated coverage on shares of Seattle Genetics in a research note on Tuesday, December 3rd. They issued a “neutral” rating and a $125.00 target price on the stock. Guggenheim downgraded shares of Seattle Genetics from a “buy” rating to a “neutral” rating in a research note on Thursday, January 2nd. Finally, Goldman Sachs Group lifted their target price on shares of Seattle Genetics from $126.00 to $165.00 and gave the company a “buy” rating in a research report on Tuesday. Ten analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $118.94.

Several hedge funds have recently added to or reduced their stakes in the stock. Van ECK Associates Corp boosted its position in Seattle Genetics by 66.1% during the fourth quarter. Van ECK Associates Corp now owns 130,001 shares of the biotechnology company’s stock valued at $14,854,000 after buying an additional 51,724 shares during the period. Parkman Healthcare Partners LLC purchased a new position in shares of Seattle Genetics in the fourth quarter worth about $13,736,000. Meeder Asset Management Inc. increased its holdings in shares of Seattle Genetics by 734.8% in the fourth quarter. Meeder Asset Management Inc. now owns 8,047 shares of the biotechnology company’s stock worth $919,000 after buying an additional 7,083 shares during the period. Dai Ichi Life Insurance Company Ltd lifted its stake in shares of Seattle Genetics by 2.2% in the 4th quarter. Dai Ichi Life Insurance Company Ltd now owns 8,800 shares of the biotechnology company’s stock valued at $1,005,000 after acquiring an additional 186 shares during the last quarter. Finally, Amalgamated Bank lifted its stake in shares of Seattle Genetics by 9.1% in the 4th quarter. Amalgamated Bank now owns 30,696 shares of the biotechnology company’s stock valued at $3,507,000 after acquiring an additional 2,569 shares during the last quarter. 95.86% of the stock is currently owned by institutional investors.

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.

Recommended Story: Why do analysts give a neutral rating?

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

Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.