Seattle Genetics, Inc. (NASDAQ:SGEN) saw an uptick in trading volume on Wednesday . 5,799,741 shares were traded during trading, an increase of 562% from the previous session’s volume of 875,932 shares.The stock last traded at $75.17 and had previously closed at $63.18.

Several research firms have recently weighed in on SGEN. Piper Jaffray Companies cut their target price on Inovio Pharmaceuticals from $12.00 to $10.00 and set an “overweight” rating on the stock in a research report on Wednesday. William Blair reissued an “outperform” rating on shares of Pivotal Software in a research report on Wednesday, June 5th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a research report on Sunday, April 28th. HC Wainwright reissued a “buy” rating on shares of Oragenics in a research report on Friday, April 26th. Finally, BidaskClub downgraded Weyco Group from a “sell” rating to a “strong sell” rating in a research report on Saturday. Two research analysts have rated the stock with a sell rating, three have given a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $84.55.

The stock’s 50-day simple moving average is $68.67. The firm has a market capitalization of $10.32 billion, a P/E ratio of -45.56 and a beta of 2.05.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). The business had revenue of $218.45 million during the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative net margin of 17.52% and a negative return on equity of 16.09%. The business’s revenue was up 28.4% compared to the same quarter last year. During the same period last year, the company earned $0.47 EPS. As a group, research analysts predict that Seattle Genetics, Inc. will post -1.36 EPS for the current year.

In other Seattle Genetics news, insider Vaughn B. Himes sold 8,000 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $65.94, for a total value of $527,520.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Clay B. Siegall sold 4,824 shares of the company’s stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $67.43, for a total value of $325,282.32. The disclosure for this sale can be found here. Insiders sold a total of 78,684 shares of company stock worth $5,334,532 in the last ninety days. 33.80% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the business. Candriam Luxembourg S.C.A. lifted its holdings in shares of Seattle Genetics by 3.0% in the 4th quarter. Candriam Luxembourg S.C.A. now owns 141,374 shares of the biotechnology company’s stock worth $8,010,000 after buying an additional 4,174 shares during the period. Stifel Financial Corp lifted its holdings in shares of Seattle Genetics by 125.2% in the 4th quarter. Stifel Financial Corp now owns 27,584 shares of the biotechnology company’s stock worth $1,589,000 after buying an additional 15,338 shares during the period. Meeder Asset Management Inc. purchased a new stake in shares of Seattle Genetics in the 1st quarter worth $394,000. Norges Bank purchased a new stake in shares of Seattle Genetics in the 4th quarter worth $44,082,000. Finally, DekaBank Deutsche Girozentrale lifted its holdings in shares of Seattle Genetics by 3.5% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 57,725 shares of the biotechnology company’s stock worth $4,477,000 after buying an additional 1,947 shares during the period. Institutional investors and hedge funds own 99.79% of the company’s stock.

Seattle Genetics Company Profile (NASDAQ:SGEN)

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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