The GC of Seattle Genetics is Exercising Options

Yesterday it was reported that the GC of Seattle Genetics (SGEN), Jean Liu, exercised options to buy 9,954 SGEN shares at $36.77 a share, for a total transaction value of $366K.

This recent transaction increases Jean Liu’s holding in the company by 24.11% to a total of $10.51 million. In addition to Jean Liu, one other SGEN executive reported Buy trades in the last month.

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Based on Seattle Genetics’ latest earnings report for the quarter ending June 30, the company posted quarterly revenue of $278 million and GAAP net loss of -$21,190,000. In comparison, last year the company earned revenue of $218 million and had a GAAP net loss of $79.24 million. The company has a one-year high of $187.99 and a one-year low of $72.27. Currently, Seattle Genetics has an average volume of 779.55K.

10 different firms, including BMO Capital and Guggenheim, currently also have a Buy rating on the stock. Based on 16 analyst ratings, the analyst consensus is Moderate Buy with an average price target of $184.86, reflecting a -2.0% downside. Starting in September 2020, SGEN received 4 Buy ratings in a row.

The insider sentiment on Seattle Genetics has been positive according to 94 insider trades in the past three months. This sentiment is slightly higher than the average sentiment of company insiders in this sector.

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Seattle Genetics, Inc. is a biotechnology company, which engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B. Siegall and H. Perry Fell on July 15, 1997 and is headquartered in Bothell, WA.

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