Seattle Genetics (SGEN) Earns Daily News Impact Score of 0.25

Cornelia Mascio
Giugno 19, 2017

It increased, as 30 investors sold Seattle Genetics, Inc. shares while 73 reduced holdings. CIBC started coverage on Seattle Genetics in a report on Thursday, March 16th. Parametric Portfolio Associates LLC now owns 114,097 shares of the biotechnology company's stock worth $7,172,000 after buying an additional 24,641 shares in the last quarter. Redmile Group LLC increased its position in Seattle Genetics by 29.0% in the third quarter. As per Monday, October 10, the company rating was maintained by RBC Capital Markets.

COPYRIGHT VIOLATION NOTICE: This piece was published by [[site]] and is the sole property of of [[site]]. Cann initiated coverage on Seattle Genetics in a research report on Wednesday, March 15th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. The Financial Consulate Inc holds 34,424 shares with $2.63M value, down from 39,462 last quarter. Norges Bank bought a new position in shares of Seattle Genetics during the fourth quarter valued at about $57,470,000. (NASDAQ:SGEN). Moreover, First City Cap Mgmt has 0.21% invested in Seattle Genetics, Inc. Finally, TD Asset Management Inc. raised its position in Seattle Genetics by 23.3% in the first quarter. Parametric Portfolio Associates LLC raised its position in Seattle Genetics by 27.5% in the first quarter. The company presently has an average rating of "Hold" and a consensus target price of $61.29. The legal version of this story can be viewed at https://baseballnewssource.com/markets/seattle-genetics-inc-sgen-earns-hold-rating-from-j-p-morgan-chase-co/1038641.html. Following the completion of the sale, the insider now directly owns 161,283 shares in the company, valued at $10,120,508.25. The shares were sold at an average price of $62.99, for a total value of $911,150.35. The current share price indicates that stock is -14.38% away from its one year high and is moving 79.57% ahead of its 52-week low. The stock was sold at an average price of $62.75, for a total transaction of $627,500.00. In other news, insider Clay B. Siegall sold 10,423 shares of the firm's stock in a transaction on Monday, June 5th.

Among 10 analysts covering Seattle Genetics (NASDAQ:SGEN), 3 have Buy rating, 1 Sell and 6 Hold. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company's stock worth $167,000 after buying an additional 2,250 shares during the last quarter. The firm's 50-day moving average price is $64.62 and its 200 day moving average price is $63.22. The company's market capitalization is $9.13 billion.

Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, April 27th. The company had revenue of $109.10 million for the quarter, compared to analyst estimates of $103.23 million.

Certain of the statements made in this press release are forward looking, such as those, among others, relating to Seattle Genetics' future actions and plans with respect to its vadastuximab talirine (SGN-CD33A) development program, Seattle Genetics' expectations with respect to the opportunities related to the remainder of its pipeline, Seattle Genetics' expectations for future ADCETRIS and enfortumab vedotin clinical trial events and the timing thereof, and other statements that are not historical facts. The disclosure for this sale can be found here. In comparison, previous year the company earned revenue of $111 million and had a GAAP net loss of $20.48 million.

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. ADCETRIS (brentuximab vedotin), the company's lead product, in collaboration with Takeda Pharmaceutical Company Limited, is the first in a new class of ADCs and is commercially available globally in 67 countries for relapsed classical Hodgkin lymphoma (HL) and relapsed systemic anaplastic large cell lymphoma (sALCL).

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