Seattle Genetics (SGEN) Shares Gap Down to $65.02

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Seattle Genetics, Inc. (NASDAQ:SGEN) gapped down before the market opened on Monday . The stock had previously closed at $62.61, but opened at $65.02. Seattle Genetics shares last traded at $66.38, with a volume of 11574 shares trading hands.

A number of equities research analysts have issued reports on the stock. TheStreet upgraded shares of Seattle Genetics from a “d+” rating to a “c” rating in a report on Friday, February 1st. BidaskClub upgraded shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 31st. Piper Jaffray Companies decreased their price target on shares of Seattle Genetics to $64.00 and set a “neutral” rating for the company in a report on Thursday. HC Wainwright restated a “buy” rating and set a $98.00 price target on shares of Seattle Genetics in a report on Friday. Finally, Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $82.00 price target for the company in a report on Wednesday, January 30th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, ten have issued a buy rating and two have assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $80.82.

The company has a market cap of $10.44 billion, a price-to-earnings ratio of -40.28 and a beta of 2.39.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.36). Seattle Genetics had a negative net margin of 34.01% and a negative return on equity of 19.33%. The company had revenue of $174.50 million during the quarter, compared to the consensus estimate of $164.03 million. During the same quarter in the previous year, the business posted ($0.41) EPS. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. On average, analysts anticipate that Seattle Genetics, Inc. will post -0.44 earnings per share for the current year.

In related news, insider Clay B. Siegall sold 20,148 shares of the stock in a transaction dated Tuesday, January 8th. The shares were sold at an average price of $65.73, for a total value of $1,324,328.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Darren S. Cline sold 4,167 shares of the stock in a transaction dated Wednesday, November 21st. The shares were sold at an average price of $56.68, for a total transaction of $236,185.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 61,463 shares of company stock valued at $3,840,215. 33.80% of the stock is owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SGEN. Capital International Investors raised its position in Seattle Genetics by 53.6% in the third quarter. Capital International Investors now owns 9,414,375 shares of the biotechnology company’s stock worth $726,037,000 after purchasing an additional 3,285,237 shares in the last quarter. BlackRock Inc. raised its position in Seattle Genetics by 0.7% in the fourth quarter. BlackRock Inc. now owns 9,104,981 shares of the biotechnology company’s stock worth $515,888,000 after purchasing an additional 62,743 shares in the last quarter. Vanguard Group Inc. raised its position in Seattle Genetics by 1.7% in the third quarter. Vanguard Group Inc. now owns 8,914,184 shares of the biotechnology company’s stock worth $687,461,000 after purchasing an additional 148,979 shares in the last quarter. Vanguard Group Inc raised its position in Seattle Genetics by 1.7% in the third quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock worth $687,461,000 after purchasing an additional 148,979 shares in the last quarter. Finally, First Trust Advisors LP raised its position in Seattle Genetics by 13.0% in the fourth quarter. First Trust Advisors LP now owns 2,011,114 shares of the biotechnology company’s stock worth $113,950,000 after purchasing an additional 231,919 shares in the last quarter.

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Seattle Genetics Company Profile (NASDAQ:SGEN)

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

Read More: Book Value Per Share – BVPS

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