Seattle Genetics Inc. (SGEN) Director Purchases $22,683,140.81 in Stock
Seattle Genetics Inc. (NASDAQ:SGEN) Director Felix Baker acquired 447,311 shares of the company’s stock in a transaction that occurred on Tuesday, September 13th. The shares were acquired at an average cost of $50.71 per share, with a total value of $22,683,140.81. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Felix Baker also recently made the following trade(s):
- On Thursday, September 8th, Felix Baker bought 414,016 shares of Seattle Genetics stock. The stock was purchased at an average price of $48.43 per share, for a total transaction of $20,050,794.88.
Shares of Seattle Genetics Inc. (NASDAQ:SGEN) opened at 54.08 on Tuesday. The stock’s market capitalization is $7.60 billion. The firm has a 50 day moving average of $47.83 and a 200-day moving average of $40.66. Seattle Genetics Inc. has a 12 month low of $26.02 and a 12 month high of $55.19.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Tuesday, July 26th. The company reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.32) by $0.09. The business earned $95.40 million during the quarter, compared to the consensus estimate of $94.56 million. Seattle Genetics had a negative net margin of 27.21% and a negative return on equity of 15.29%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($0.38) earnings per share. Analysts forecast that Seattle Genetics Inc. will post ($1.00) earnings per share for the current year.
SGEN has been the topic of several recent analyst reports. Cantor Fitzgerald reiterated a “buy” rating and issued a $43.00 target price on shares of Seattle Genetics in a report on Wednesday, June 8th. Credit Suisse Group AG reiterated a “buy” rating on shares of Seattle Genetics in a report on Wednesday, June 8th. HC Wainwright reiterated a “buy” rating and issued a $65.00 target price on shares of Seattle Genetics in a report on Monday, June 13th. 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 report on Wednesday, June 29th. Finally, Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $46.00 target price on the stock in a report on Monday, July 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average target price of $49.92.
Several large investors have recently modified their holdings of the company. Fairfield Bush & CO. increased its stake in shares of Seattle Genetics by 7.4% in the first quarter. Fairfield Bush & CO. now owns 21,672 shares of the company’s stock worth $760,000 after buying an additional 1,500 shares during the period. Primecap Management Co. CA increased its stake in shares of Seattle Genetics by 5.5% in the first quarter. Primecap Management Co. CA now owns 13,589,187 shares of the company’s stock worth $476,845,000 after buying an additional 707,012 shares during the period. State Street Corp increased its stake in shares of Seattle Genetics by 18.3% in the first quarter. State Street Corp now owns 2,319,710 shares of the company’s stock worth $81,406,000 after buying an additional 358,297 shares during the period. Canada Pension Plan Investment Board increased its stake in shares of Seattle Genetics by 41.6% in the first quarter. Canada Pension Plan Investment Board now owns 288,800 shares of the company’s stock worth $10,134,000 after buying an additional 84,900 shares during the period. Finally, Spark Investment Management LLC purchased a new stake in shares of Seattle Genetics during the first quarter worth approximately $1,126,000. Institutional investors and hedge funds own 97.93% of the company’s stock.
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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