Seattle Genetics, Inc. (NASDAQ:SGEN) COO Eric Dobmeier sold 5,343 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $255,876.27. The sale was disclosed in a legal filing with the SEC, which is available at this link.

Seattle Genetics, Inc. (NASDAQ:SGEN) traded up 5.38% during midday trading on Thursday, reaching $52.46. The company’s stock had a trading volume of 1,373,246 shares. Seattle Genetics, Inc. has a 52 week low of $43.71 and a 52 week high of $75.36. The stock’s market capitalization is $7.50 billion. The firm’s 50-day moving average price is $50.25 and its 200-day moving average price is $60.29.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. During the same quarter in the prior year, the company posted ($0.23) EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, analysts anticipate that Seattle Genetics, Inc. will post ($1.69) earnings per share for the current year.

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SGEN has been the topic of a number of recent analyst reports. BidaskClub downgraded Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a research report on Thursday, July 27th. TheStreet downgraded Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Cantor Fitzgerald set a $46.00 price target on Seattle Genetics and gave the stock a “hold” rating in a research report on Wednesday, August 16th. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $48.00 target price on shares of Seattle Genetics in a research report on Tuesday, June 27th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. Seattle Genetics has a consensus rating of “Hold” and an average target price of $62.29.

Several hedge funds and other institutional investors have recently modified their holdings of SGEN. Commerzbank Aktiengesellschaft FI raised its position in shares of Seattle Genetics by 2.2% in the first quarter. Commerzbank Aktiengesellschaft FI now owns 54,105 shares of the biotechnology company’s stock worth $3,401,000 after buying an additional 1,160 shares in the last quarter. Great West Life Assurance Co. Can raised its position in shares of Seattle Genetics by 1.1% in the first quarter. Great West Life Assurance Co. Can now owns 41,777 shares of the biotechnology company’s stock worth $2,624,000 after buying an additional 437 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Seattle Genetics by 1.2% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,613 shares of the biotechnology company’s stock worth $981,000 after buying an additional 191 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Seattle Genetics by 607.0% in the first quarter. Canada Pension Plan Investment Board now owns 120,900 shares of the biotechnology company’s stock worth $7,600,000 after buying an additional 103,800 shares in the last quarter. Finally, Wells Fargo & Company MN raised its position in shares of Seattle Genetics by 295.3% in the first quarter. Wells Fargo & Company MN now owns 321,791 shares of the biotechnology company’s stock worth $20,228,000 after buying an additional 240,382 shares in the last quarter. 97.70% of the stock is currently owned by institutional investors.

About Seattle Genetics

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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