Seattle Genetics (NASDAQ:SGEN) Shares Down 1.4%

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) were down 1.4% during trading on Friday . The company traded as low as $67.94 and last traded at $68.02. Approximately 7,422 shares traded hands during mid-day trading, a decline of 99% from the average daily volume of 578,709 shares. The stock had previously closed at $68.96.

A number of analysts have recently commented on SGEN shares. ValuEngine lowered Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Seattle Genetics in a research report on Sunday, April 28th. Zacks Investment Research raised Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 target price on the stock in a research report on Wednesday, May 29th. BidaskClub downgraded Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research report on Thursday, April 18th. Finally, Royal Bank of Canada lifted their target price on Seattle Genetics from $89.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $83.55.

The stock has a market cap of $11.01 billion, a PE ratio of -41.38 and a beta of 2.15.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.25. The firm had revenue of $195.20 million for the quarter, compared to the consensus estimate of $186.79 million. Seattle Genetics had a negative return on equity of 16.09% and a negative net margin of 17.52%. The business’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.73) earnings per share. On average, equities analysts forecast that Seattle Genetics, Inc. will post -1.36 EPS for the current year.

In other Seattle Genetics news, insider Clay B. Siegall sold 20,148 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $79.22, for a total transaction of $1,596,124.56. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director David W. Gryska sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, April 1st. The stock was sold at an average price of $73.41, for a total value of $367,050.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,768 shares of company stock worth $6,553,469. Company insiders own 33.80% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in SGEN. Vanguard Group Inc boosted its stake in shares of Seattle Genetics by 1.7% in the third quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock valued at $687,461,000 after buying an additional 148,979 shares during the period. M&T Bank Corp boosted its stake in shares of Seattle Genetics by 1.0% in the fourth quarter. M&T Bank Corp now owns 18,132 shares of the biotechnology company’s stock valued at $1,027,000 after buying an additional 188 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Seattle Genetics by 4.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 4,925 shares of the biotechnology company’s stock valued at $279,000 after buying an additional 230 shares during the period. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Seattle Genetics by 2.6% in the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 9,050 shares of the biotechnology company’s stock valued at $513,000 after buying an additional 226 shares during the period. Finally, Stanley Laman Group Ltd. bought a new stake in shares of Seattle Genetics in the fourth quarter valued at approximately $229,000. 99.79% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: This article was first published by Riverton Roll and is owned by of Riverton Roll. If you are reading this article on another website, it was stolen and reposted in violation of United States & international copyright legislation. The correct version of this article can be read at https://rivertonroll.com/news/2019/06/14/seattle-genetics-nasdaqsgen-shares-down-1-4.html.

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.

Further Reading: Average Daily Trade Volume – ADTV

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.