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.
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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
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