SGEN has been the topic of several other research reports. JMP Securities assumed coverage on Seattle Genetics in a report on Tuesday, May 26th. They set an “outperform” rating and a $185.00 target price on the stock. SVB Leerink boosted their target price on Seattle Genetics from $167.00 to $173.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. HC Wainwright reissued a “buy” rating and set a $200.00 target price (up previously from $175.00) on shares of Seattle Genetics in a report on Friday, July 31st. Piper Sandler cut Seattle Genetics from an “overweight” rating to a “neutral” rating and upped their price target for the company from $155.00 to $165.00 in a report on Friday, July 24th. Finally, Oppenheimer upped their price target on Seattle Genetics from $175.00 to $200.00 and gave the company an “outperform” rating in a report on Friday, June 26th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Seattle Genetics currently has an average rating of “Buy” and an average price target of $153.37.
SGEN opened at $176.62 on Tuesday. Seattle Genetics has a twelve month low of $69.89 and a twelve month high of $187.99. The stock has a market cap of $30.73 billion, a PE ratio of -116.97 and a beta of 1.26. The business’s 50 day moving average is $157.68 and its 200-day moving average is $147.48.
In other news, CFO Todd E. Simpson sold 11,573 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $167.58, for a total transaction of $1,939,403.34. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Jean I. Liu sold 11,610 shares of the business’s stock in a transaction on Monday, September 14th. The shares were sold at an average price of $170.00, for a total transaction of $1,973,700.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 197,134 shares of company stock worth $32,111,183. 31.10% of the stock is currently owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Huntington National Bank acquired a new stake in shares of Seattle Genetics in the 2nd quarter valued at $28,000. Signaturefd LLC lifted its stake in shares of Seattle Genetics by 70.0% in the 2nd quarter. Signaturefd LLC now owns 170 shares of the biotechnology company’s stock valued at $29,000 after purchasing an additional 70 shares during the last quarter. HBC Financial Services PLLC acquired a new stake in shares of Seattle Genetics in the 2nd quarter valued at $31,000. Ellevest Inc. lifted its stake in shares of Seattle Genetics by 753.3% in the 2nd quarter. Ellevest Inc. now owns 256 shares of the biotechnology company’s stock valued at $43,000 after purchasing an additional 226 shares during the last quarter. Finally, Baldwin Brothers Inc. MA lifted its stake in shares of Seattle Genetics by 1,000.0% in the 2nd quarter. Baldwin Brothers Inc. MA now owns 275 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 250 shares during the last quarter. 91.96% of the stock is owned by institutional investors and hedge funds.
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.
Further Reading: Trading Options- What is a Strangle?
Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.