Insider Trading at Seattle Genetics Inc.?

Claudine Rigal
Juillet 11, 2017

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. That brings the President and CEO's holdings to $41,686,493 as recorded in a recent Form 4 SEC filing. Ltd. increased its position in Seattle Genetics by 1.2% in the first quarter.

Short traders are more bullish on the company recently if you consider the change in short interest. Atria Investments LLC raised its position in Seattle Genetics by 3.5% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Seattle Genetics during the first quarter worth $119,000. Tradewinds Capital Management LLC increased its stake in Seattle Genetics by 2.3% in the first quarter. Janus Capital Management LLC increased its position in shares of Seattle Genetics by 79.1% in the fourth quarter. Capital Fund Management S.A. purchased a new stake in Seattle Genetics during the first quarter worth $208,000.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. (NASDAQ:SGEN). Ghost Tree Capital Limited Liability Com has 1.91% invested in Seattle Genetics, Inc.

Shares of Seattle Genetics (NASDAQ SGEN) opened at 53.25 on Monday. (NYSE:ZAYO) stock went gone down with a prior 52-week high of $35.65.During the session shares traded on below-average volume. The stock's market capitalization is $7.39 billion. The average 1-year price target for (SO) reveals an average price target of $50.63 per share.

Among 15 analysts covering Seattle Genetics (NASDAQ:SGEN), 6 have Buy rating, 1 Sell and 8 Hold. The biotechnology company reported ($0.42) earnings per share (EPS) for the quarter, missing the Thomson Reuters' consensus estimate of ($0.41) by $0.01. The business had revenue of $109.10 million for the quarter, compared to analyst estimates of $103.23 million. Seattle Genetics had a negative net margin of 43.17% and a negative return on equity of 27.98%. The firm's revenue was down 1.9% on a year-over-year basis. During the same period previous year, the firm earned ($0.15) earnings per share. After having $-0.42 EPS previously, Seattle Genetics, Inc.'s analysts see 4.76% EPS growth.

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"The analysts wrote, "SGEN announced this morning that following an interim safety look of 33A's pivotal". BidaskClub lowered shares of Seattle Genetics from a "hold" rating to a "sell" rating in a report on Wednesday, June 28th. They now have a $54.00 price target on the biotechnology company's stock, down from their previous price target of $61.00. Oppenheimer Holdings, Inc. reaffirmed a "hold" rating on shares of Seattle Genetics in a research report on Saturday, June 3rd. CIBC assumed coverage on shares of Seattle Genetics in a research report on Thursday, March 16th. Piper Jaffray Companies reissued a "neutral" rating and set a $48.00 price target on shares of Seattle Genetics in a research report on Tuesday, June 27th. Cann reissued a "hold" rating on shares of Seattle Genetics in a research report on Monday, June 19th. Four research analysts have rated the stock with a sell rating, twelve have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. The stock presently has a consensus rating of "Hold" and an average price target of $61.00.

In other news, CMO Jonathan G. Drachman sold 10,000 shares of the company's stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $64.01, for a total value of $640,100.00. Following the completion of the sale, the chief marketing officer now directly owns 125,204 shares of the company's stock, valued at approximately $8,014,308.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

President and CEO Clay B. Siegall let go of 10,423 shares at an average price of $65.50 on Monday the 5th. (NASDAQ:SGEN). Clay B. Siegall, President and CEO sold $543,559 worth of shares at an average price of $52.15 on Wednesday the 5th. The disclosure for this sale can be found here. Atria Investments LLC now owns 5,427 shares of the biotechnology company's stock valued at $281,000 after buying an additional 1,220 shares during the last quarter.

About shares traded. Seattle Genetics, Inc. The Company is involved in the development and sale of pharmaceutical products on its own behalf or in collaboration with others.

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