What’s Ahead for Seattle Genetics, Inc. After Today’s Bearish Options Activity?

 What's Ahead for Seattle Genetics, Inc. After Today's Bearish Options Activity?

In today’s session Seattle Genetics, Inc. (SGEN) recorded an unusually high (613) contracts volume of put trades. Someone, most probably a professional was a very active buyer of the December, 2016 put, expecting serious SGEN decrease. With 613 contracts traded and 7314 open interest for the Dec, 16 contract, it seems this is a quite bearish bet. The option with symbol: SGEN161216P00070000 closed last at: $6.1 or 10.9% up. About 112,148 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 73.80% since April 28, 2016 and is uptrending. It has outperformed by 67.87% the S&P500.

Analysts await Seattle Genetics, Inc. (NASDAQ:SGEN) to report earnings on February, 14. They expect $-0.33 EPS, down 83.33% or $0.15 from last year’s $-0.18 per share. After $-0.23 actual EPS reported by Seattle Genetics, Inc. for the previous quarter, Wall Street now forecasts 43.48% negative EPS growth.

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

Out of 8 analysts covering Seattle Genetics (NASDAQ:SGEN), 4 rate it a “Buy”, 0 “Sell”, while 4 “Hold”. This means 50% are positive. $62 is the highest target while $51 is the lowest. The $57 average target is -12.00% below today’s ($64.77) stock price. Seattle Genetics has been the topic of 15 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The company was downgraded on Wednesday, July 27 by Cantor Fitzgerald. Barclays Capital downgraded Seattle Genetics, Inc. (NASDAQ:SGEN) on Tuesday, November 29 to “Equal-Weight” rating. Goldman Sachs upgraded Seattle Genetics, Inc. (NASDAQ:SGEN) on Thursday, September 15 to “Neutral” rating. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) earned “Outperform” rating by Credit Suisse on Thursday, January 21. The firm has “Neutral” rating given on Friday, October 30 by Piper Jaffray. William Blair maintained Seattle Genetics, Inc. (NASDAQ:SGEN) on Tuesday, August 25 with “Buy” rating. The rating was maintained by Barclays Capital with “Overweight” on Wednesday, July 27. RBC Capital Markets maintained the shares of SGEN in a report on Friday, July 31 with “Outperform” rating. The firm has “Outperform” rating given on Friday, August 14 by Leerink Swann. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) earned “Outperform” rating by RBC Capital Markets on Monday, October 10.

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 1 in 2016 Q2. Its up 0.09, from 0.91 in 2016Q1. The ratio is positive, 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.
Bankshares Of America Corporation De reported 392,696 shares or 0% of all its holdings. The Minnesota-based Us Bankshares De has invested 0% in Seattle Genetics, Inc. (NASDAQ:SGEN). Ironbridge Cap Mngmt Ltd Partnership has 0.26% invested in the company for 144,831 shares. Tradewinds Cap Limited Liability reported 1,949 shares or 0.06% of all its holdings. Blackrock Fund Advsr reported 2.85M shares or 0.03% of all its holdings. Barclays Public Limited accumulated 84,143 shares or 0% of the stock. Proshare Advsrs Limited Liability holds 0.06% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 107,917 shares. Baxter Bros Inc, a Connecticut-based fund reported 11,790 shares. Macquarie Grp Inc Ltd holds 0.01% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 130,000 shares. Blair William And Il holds 0.26% or 696,200 shares in its portfolio. Janus Management Limited Liability Corporation accumulated 0% or 106,000 shares. Bluecrest Capital Management Limited has 0.01% invested in the company for 7,679 shares. The California-based Assetmark Inc has invested 0% in Seattle Genetics, Inc. (NASDAQ:SGEN). State Of Wisconsin Board holds 62,640 shares or 0.01% of its portfolio. Tiaa Cref Management Ltd Liability Corporation has 290,178 shares for 0.01% of their US portfolio.

Insider Transactions: Since June 2, 2016, the stock had 4 insider buys, and 21 sales for $112.60 million net activity. SIEGALL CLAY B sold $845,144 worth of stock or 14,465 shares. SIMPSON TODD E sold $185,943 worth of stock or 3,991 shares. BAKER FELIX also bought $20.05M worth of Seattle Genetics, Inc. (NASDAQ:SGEN) on Tuesday, September 6. On Monday, August 22 the insider Cline Darren S sold $82,652. On Monday, November 7 the insider LIPPMAN MARC E sold $57,749. The insider DRACHMAN JONATHAN G sold $176,847. Shares for $252,102 were sold by DOBMEIER ERIC.

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 $8.95 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.

Another recent and important Seattle Genetics, Inc. (NASDAQ:SGEN) news was published by Forbes.com which published an article titled: “First Week of January 2017 Options Trading For Seattle Genetics (SGEN)” on November 22, 2016.

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