Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Sells $2,398,940.35 in Stock

Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Todd E. Simpson sold 39,385 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Todd E. Simpson also recently made the following trade(s):

  • On Wednesday, September 6th, Todd E. Simpson sold 9,638 shares of Seattle Genetics stock. The stock was sold at an average price of $52.00, for a total value of $501,176.00.
  • On Monday, August 28th, Todd E. Simpson sold 4,937 shares of Seattle Genetics stock. The stock was sold at an average price of $47.89, for a total value of $236,432.93.

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $57.20 on Wednesday. Seattle Genetics, Inc. has a fifty-two week low of $45.31 and a fifty-two week high of $73.99.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The firm had revenue of $135.29 million during the quarter, compared to the consensus estimate of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) EPS. research analysts forecast that Seattle Genetics, Inc. will post -1.01 EPS for the current fiscal year.

TRADEMARK VIOLATION NOTICE: “Seattle Genetics, Inc. (NASDAQ:SGEN) CFO Sells $2,398,940.35 in Stock” was published by Week Herald and is the property of of Week Herald. If you are viewing this article on another site, it was illegally copied and reposted in violation of international trademark and copyright law. The legal version of this article can be accessed at https://weekherald.com/2017/11/15/seattle-genetics-inc-sgen-cfo-sells-2398940-35-in-stock.html.

Several research analysts recently commented on the company. Cantor Fitzgerald set a $46.00 target price on Seattle Genetics and gave the stock a “hold” rating in a research note on Wednesday, August 16th. Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $68.00 target price for the company in a research note on Monday, November 6th. Royal Bank Of Canada boosted their target price on Seattle Genetics from $68.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday. BidaskClub cut Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Cowen and Company reissued a “hold” rating on shares of Seattle Genetics in a research note on Sunday, October 29th. Two analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.53.

Institutional investors and hedge funds have recently bought and sold shares of the business. Quantbot Technologies LP raised its stake in Seattle Genetics by 116.5% during the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 1,428 shares during the last quarter. First Manhattan Co. raised its stake in Seattle Genetics by 31.3% during the 2nd quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock valued at $162,000 after acquiring an additional 750 shares during the last quarter. Bristlecone Advisors LLC purchased a new stake in Seattle Genetics during the 3rd quarter valued at approximately $180,000. Meeder Asset Management Inc. raised its stake in Seattle Genetics by 1,580.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock valued at $205,000 after acquiring an additional 3,715 shares during the last quarter. Finally, DRW Securities LLC purchased a new stake in Seattle Genetics during the 2nd quarter valued at approximately $207,000. 98.45% of the stock is owned by hedge funds and other institutional investors.

Seattle Genetics Company Profile

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)

Receive News & Ratings for Seattle Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply