Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall Sells 28,472 Shares

Seattle Genetics, Inc. (NASDAQ:SGEN) CEO Clay B. Siegall sold 28,472 shares of the company’s stock in a transaction dated Monday, December 9th. The stock was sold at an average price of $114.56, for a total transaction of $3,261,752.32. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.

Clay B. Siegall also recently made the following trade(s):

  • On Friday, November 8th, Clay B. Siegall sold 28,472 shares of Seattle Genetics stock. The shares were sold at an average price of $107.61, for a total transaction of $3,063,871.92.
  • On Tuesday, October 8th, Clay B. Siegall sold 28,472 shares of Seattle Genetics stock. The stock was sold at an average price of $82.47, for a total transaction of $2,348,085.84.

SGEN opened at $113.98 on Wednesday. The stock’s fifty day simple moving average is $112.08 and its 200 day simple moving average is $83.28. Seattle Genetics, Inc. has a 1-year low of $51.50 and a 1-year high of $122.36. The stock has a market cap of $19.53 billion, a PE ratio of -69.08 and a beta of 2.03.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.36) by ($0.19). Seattle Genetics had a negative return on equity of 19.17% and a negative net margin of 37.97%. The firm had revenue of $213.26 million for the quarter, compared to the consensus estimate of $211.85 million. During the same quarter in the prior year, the firm earned ($0.42) EPS. The company’s revenue was up 25.9% on a year-over-year basis. Analysts predict that Seattle Genetics, Inc. will post -1.59 earnings per share for the current year.

Several institutional investors have recently bought and sold shares of SGEN. NEXT Financial Group Inc lifted its stake in Seattle Genetics by 333.3% in the 3rd quarter. NEXT Financial Group Inc now owns 325 shares of the biotechnology company’s stock valued at $28,000 after purchasing an additional 250 shares during the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of Seattle Genetics during the second quarter worth $27,000. Usca Ria LLC acquired a new position in shares of Seattle Genetics during the third quarter worth $34,000. BSW Wealth Partners acquired a new position in shares of Seattle Genetics during the second quarter worth $29,000. Finally, Quadrant Capital Group LLC increased its holdings in shares of Seattle Genetics by 215.4% during the third quarter. Quadrant Capital Group LLC now owns 511 shares of the biotechnology company’s stock worth $42,000 after buying an additional 349 shares in the last quarter. 96.59% of the stock is owned by institutional investors.

Several analysts have recently commented on the stock. Svb Leerink reissued an “outperform” rating on shares of Seattle Genetics in a research note on Wednesday, October 2nd. Oppenheimer boosted their price objective on shares of Seattle Genetics from $92.00 to $110.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 22nd. Royal Bank of Canada upped their price objective on Seattle Genetics from $80.00 to $109.00 and gave the stock an “outperform” rating in a report on Tuesday, October 22nd. Needham & Company LLC set a $121.00 price objective on Seattle Genetics and gave the company a “buy” rating in a research report on Monday, October 21st. Finally, ValuEngine cut shares of Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. Eight analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $107.56.

About Seattle Genetics

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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