Seattle Genetics, Inc. (NASDAQ:SGEN) CMO Jonathan G. Drachman sold 10,457 shares of Seattle Genetics stock in a transaction dated Monday, March 5th. The shares were sold at an average price of $52.83, for a total value of $552,443.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Shares of Seattle Genetics, Inc. (SGEN) opened at $57.70 on Friday. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The company had revenue of $129.61 million during the quarter, compared to analyst estimates of $123.99 million. During the same quarter in the previous year, the firm posted ($0.39) EPS. The firm’s quarterly revenue was up 23.1% on a year-over-year basis. analysts forecast that Seattle Genetics, Inc. will post -1.57 EPS for the current fiscal year.
A number of hedge funds have recently made changes to their positions in SGEN. Manning & Napier Advisors LLC acquired a new position in Seattle Genetics during the 3rd quarter worth $140,098,000. Capital International Investors boosted its position in Seattle Genetics by 63.7% during the 3rd quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after acquiring an additional 1,735,657 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Seattle Genetics by 92.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock valued at $132,139,000 after buying an additional 1,184,491 shares during the period. Capital Guardian Trust Co. lifted its holdings in shares of Seattle Genetics by 82.2% in the third quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock valued at $57,909,000 after buying an additional 480,044 shares during the period. Finally, Millennium Management LLC lifted its holdings in shares of Seattle Genetics by 5,032.1% in the fourth quarter. Millennium Management LLC now owns 334,921 shares of the biotechnology company’s stock valued at $17,918,000 after buying an additional 328,395 shares during the period. Institutional investors own 93.13% of the company’s stock.
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About Seattle Genetics
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).
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