Seattle Genetics Inc. (SGEN) COO Eric Dobmeier Sells 22,918 Shares
Seattle Genetics Inc. (NASDAQ:SGEN) COO Eric Dobmeier sold 22,918 shares of the business’s stock in a transaction dated Wednesday, September 14th. The shares were sold at an average price of $54.04, for a total value of $1,238,488.72. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Eric Dobmeier also recently made the following trade(s):
- On Tuesday, August 23rd, Eric Dobmeier sold 12,589 shares of Seattle Genetics stock. The stock was sold at an average price of $48.00, for a total value of $604,272.00.
- On Monday, August 22nd, Eric Dobmeier sold 5,411 shares of Seattle Genetics stock. The stock was sold at an average price of $46.59, for a total value of $252,098.49.
Seattle Genetics Inc. (NASDAQ:SGEN) opened at 53.65 on Monday. The company has a 50-day moving average price of $47.02 and a 200 day moving average price of $40.01. The company’s market cap is $7.54 billion. Seattle Genetics Inc. has a 52 week low of $26.02 and a 52 week high of $54.88.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Tuesday, July 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.32) by $0.09. Seattle Genetics had a negative return on equity of 15.29% and a negative net margin of 27.21%. The company had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $94.56 million. During the same period in the previous year, the firm posted ($0.38) EPS. Seattle Genetics’s revenue was up 23.7% compared to the same quarter last year. On average, equities research analysts forecast that Seattle Genetics Inc. will post ($1.00) EPS for the current fiscal year.
Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in Seattle Genetics by 37.5% in the second quarter. JPMorgan Chase & Co. now owns 3,595 shares of the company’s stock valued at $145,000 after buying an additional 981 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Seattle Genetics during the second quarter valued at about $206,000. Carl Domino Inc purchased a new stake in Seattle Genetics during the second quarter valued at about $218,000. Levin Capital Strategies L.P. purchased a new stake in Seattle Genetics during the second quarter valued at about $218,000. Finally, Capstone Asset Management Co. purchased a new stake in Seattle Genetics during the second quarter valued at about $222,000. Institutional investors own 97.93% of the company’s stock.
SGEN has been the topic of a number of research analyst reports. Morgan Stanley initiated coverage on Seattle Genetics in a research report on Wednesday, September 7th. They issued an “overweight” rating and a $60.00 target price on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 target price (up from $60.00) on shares of Seattle Genetics in a research report on Wednesday, June 29th. Credit Suisse Group AG reiterated a “buy” rating on shares of Seattle Genetics in a research report on Tuesday, July 12th. HC Wainwright reiterated a “buy” rating and issued a $65.00 target price on shares of Seattle Genetics in a research report on Monday, June 13th. Finally, Goldman Sachs Group Inc. upgraded Seattle Genetics from a “sell” rating to a “neutral” rating and boosted their target price for the stock from $30.00 to $47.00 in a research report on Thursday. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have assigned a buy rating to the company. Seattle Genetics currently has a consensus rating of “Hold” and an average target price of $49.92.
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’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
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