What’s in Seattle Genetics, Inc. After Today’s Bullish Options Activity?

 What's in Seattle Genetics, Inc. After Today's Bullish Options Activity?

In today’s session Seattle Genetics, Inc. (SGEN) registered an unusually high (229) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious SGEN increase. With 229 contracts traded and 574 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: SGEN161118C00055000 closed last at: $2 or 25% up. About 189,371 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 56.00% since March 16, 2016 and is uptrending. It has outperformed by 50.45% the S&P500.

Analysts await Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings on November, 3. They expect $-0.29 earnings per share, down 38.10% or $0.08 from last year’s $-0.21 per share. After $-0.23 actual earnings per share reported by Seattle Genetics, Inc. for the previous quarter, Wall Street now forecasts 26.09% negative EPS growth.

Seattle Genetics, Inc. (NASDAQ:SGEN) Ratings Coverage

Out of 8 analysts covering Seattle Genetics (NASDAQ:SGEN), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Seattle Genetics has been the topic of 14 analyst reports since July 31, 2015 according to StockzIntelligence Inc. As per Thursday, January 21, the company rating was initiated by Credit Suisse. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Outperform” rating given on Monday, September 14 by RBC Capital Markets. On Thursday, February 4 the stock rating was initiated by Barclays Capital with “Overweight”. As per Wednesday, November 18, the company rating was initiated by Goldman Sachs. William Blair maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Tuesday, August 25 with “Buy” rating. The stock has “Overweight” rating given by Morgan Stanley on Wednesday, September 7. The rating was downgraded by Cantor Fitzgerald to “Hold” on Wednesday, July 27. The firm has “Outperform” rating by RBC Capital Markets given on Monday, October 10. Leerink Swann maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Friday, August 14 with “Outperform” rating. The firm earned “Overweight” rating on Wednesday, July 27 by Barclays Capital.

According to Zacks Investment Research, “Seattle Genetics is a biotechnology company focused on the development and commercialization of innovative antibody-based therapies for the treatment of cancer. Seattle Genetics is leading the field in developing antibody-drug conjugates (ADCs), a technology designed to harness the targeting ability of antibodies to deliver cell-killing agents directly to cancer cells. The company’s lead product, ADCETRIS® (brentuximab vedotin) is an ADC that, in collaboration with Takeda Pharmaceutical Company Limited, is commercially available for two indications in more than 45 countries, including the U.S., Canada, Japan and members of the European Union. Additionally, ADCETRIS is being evaluated broadly in more than 30 ongoing clinical trials. Seattle Genetics is also advancing a robust pipeline of clinical-stage ADC programs, including SGN-CD19A, SGN-CD33A, SGN-LIV1A, SGN-CD70A, ASG-22ME and ASG-15ME.”

Insitutional Activity: The institutional sentiment increased to 0.91 in Q2 2016. Its up 0.17, from 0.74 in 2016Q1. The ratio improved, as 12 funds sold all Seattle Genetics, Inc. shares owned while 75 reduced positions. 34 funds bought stakes while 45 increased positions. They now own 136.24 million shares or 2.59% less from 139.87 million shares in 2016Q1.
Omers Administration last reported 0.03% of its portfolio in the stock. Trexquant Investment L P accumulated 0.08% or 15,469 shares. Rhumbline Advisers accumulated 0.01% or 99,748 shares. Spark Invest Mgmt Lc, a New York-based fund reported 102,900 shares. Ladenburg Thalmann Fincl Service Inc, a Florida-based fund reported 2,420 shares. Alpha Windward Lc holds 0.03% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 970 shares. Ubs Asset Mgmt Americas, a Illinois-based fund reported 85,148 shares. Blackrock Institutional Trust Na holds 2.55 million shares or 0.02% of its portfolio. Moreover, Brown Advisory has 0% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 34,276 shares. Canada Pension Plan Inv Board holds 0.03% or 175,600 shares in its portfolio. Sunbelt accumulated 0% or 79 shares. Baker Bros L P has 43.24 million shares for 18.32% of their US portfolio. Levin Strategies Ltd Partnership has invested 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Advisory Service Ntwk Ltd Liability has invested 0% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Tributary Capital Management Ltd Company accumulated 50,700 shares or 0.3% of the stock.

Insider Transactions: Since April 25, 2016, the stock had 2 insider purchases, and 22 insider sales for $30.90 million net activity. On Monday, August 22 Cline Darren S sold $82,652 worth of the stock or 1,774 shares. HIMES VAUGHN B sold $185,943 worth of stock. SIEGALL CLAY B sold $308,999 worth of stock or 7,618 shares. DRACHMAN JONATHAN G sold $127,631 worth of stock or 2,249 shares. $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by SIMPSON TODD E. Shares for $1.24M were sold by DOBMEIER ERIC. BAKER FELIX also bought $20.05M worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares.

Seattle Genetics, Inc. is a biotechnology firm focused on the development and commercialization of therapies for the treatment of cancer. The company has a market cap of $7.25 billion. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate , comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE). It currently has negative earnings. The Company’s pipeline includes other clinical-stage ADC programs, which are 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.

SGEN Company Profile

Seattle Genetics, Inc., incorporated on July 15, 1997, is a biotechnology firm 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). In addition to ADCETRIS, the Company’s pipeline includes other clinical-stage ADC programs, which are 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. It also has multiple preclinical and research-stage programs that employ its technologies.

More recent Seattle Genetics, Inc. (NASDAQ:SGEN) news were published by: Prnewswire.com which released: “Research Reports Initiation on Biotech Stocks — Heat Biologics, Geron …” on October 19, 2016. Also Businesswire.com published the news titled: “Seattle Genetics and Agensys, an Affiliate of Astellas, Highlight Promising …” on October 07, 2016. Thestreet.com‘s news article titled: “Pardon Me, but I Have a Few Things to Say… Seattle Genetics, Biomarin …” with publication date: October 13, 2016 was also an interesting one.

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