Seattle Genetics Inc /wa (SGEN) Files Form 4 Insider Selling : Jonathan G Drachman Sells 2,249 Shares

Seattle Genetics Inc /wa (SGEN): Jonathan G Drachman , CMO & EVP, R & D of Seattle Genetics Inc /wa sold 2,249 shares on Sep 22, 2016. The Insider selling transaction was reported by the company on Sep 23, 2016 to the Securities and Exchange Commission. The shares were sold at $56.75 per share for a total value of $127,630.75 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on Sep 15, 2016, Eric Dobmeier (Chief Operating Officer) sold 22,918 shares at $54.22 per share price.On Sep 12, 2016, Clay B Siegall (President and CEO) sold 31,269 shares at $50.08 per share price.Also, On Sep 8, 2016, Darren S Cline (EVP, Commercial) sold 5,397 shares at $46.01 per share price.On Aug 22, 2016, Jonathan G Drachman (CMO & EVP, R & D) sold 3,991 shares at $46.59 per share price.

Seattle Genetics: On Thursday, Sep 22, 2016 heightened volatility was witnessed in Seattle Genetics which led to swings in the share price. The shares opened for trading at $56.52 and hit $56.97 on the upside , eventually ending the session at $56.19, with a gain of 0.16% or 0.09 points. The heightened volatility saw the trading volume jump to 8,20,456 shares. The 52-week high of the share price is $56.48 and the company has a market cap of $7,896 M . The 52-week low of the share price is at $26.02.

Seattle Genetics Money Flow Index Chart

Company has been under the radar of several Street Analysts.Seattle Genetics is Upgraded by Goldman to Neutral. Earlier the firm had a rating of Sell on the company shares. The Rating was issued on Sep 15, 2016.Seattle Genetics is Initiated by Morgan Stanley to Overweight. The Rating was issued on Sep 7, 2016.Seattle Genetics is Reiterated by Barclays to Overweight and the brokerage firm has raised the Price Target to $ 53 from a previous price target of $48 .The Rating was issued on Jul 27, 2016.Seattle Genetics is Reiterated by RBC Capital Mkts to Outperform and the brokerage firm has raised the Price Target to $ 130 from a previous price target of $125 .The Rating was issued on Jul 27, 2016.Seattle Genetics is Reiterated by SunTrust to Neutral and the brokerage firm has raised the Price Target to $ 38 from a previous price target of $34 .The Rating was issued on Jul 27, 2016.

Seattle Genetics Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s marketed product ADCETRIS or brentuximab vedotin is an antibody-drug conjugate (ADC) comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent monomethyl auristatin E (MMAE) utilizing its technology. In addition to ADCETRIS the Company’s pipeline includes six clinical-stage ADC programs consisting of SGN-CD33A SGN-CD19A SGN-LIV1A SGN-CD70A ASG-22ME and ASG-15ME and SEA-CD40 which is based on its sugar-engineered antibody (SEA) technology. In addition it has multiple preclinical and research-stage programs that employ its technologies. Its technologies include ADC technology and Seattle Genetics’ sugar-engineered antibody (SEA) technology.

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