Seattle Genetics (SGEN) Shares are Down -3.16%

Seattle Genetics (SGEN) has risen sharply, recording gains of 3.16% in the past 4 weeks. However, the stock has corrected -3.16% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 2.77% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.

Seattle Genetics, Inc. is up 16.9% in the last 3-month period. Year-to-Date the stock performance stands at 1.11%. The stock has recorded a 20-day Moving Average of 2.94% and the 50-Day Moving Average is 5.65%.


Seattle Genetics (NASDAQ:SGEN): The stock opened at $45.70 on Friday but the bulls could not build on the opening and the stock topped out at $45.81 for the day. The stock traded down to $45.09 during the day, due to lack of any buying support eventually closed down at $45.38 with a loss of -1.18% for the day. The stock had closed at $45.92 on the previous day. The total traded volume was 325,832 shares.

Also, In a research note released to the investors, Cantor Fitzgerald downgrades its rating on Seattle Genetics (NASDAQ:SGEN).The analysts at the brokerage house have a current rating of Hold on the shares. Earlier, the shares were rated a Buy by the brokerage firm. The rating by the firm was issued on July 27, 2016.

Seattle Genetics, Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Companys 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 Companys 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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