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Seattle Genetics: 52-Week High Recently Eclipsed (SGEN)

Published on Tue, 03/26/2013 - 14:15
By Peter Chu

Seattle Genetics (NASDAQ:SGEN) traded today at a new 52-week high of $36.99. This new high was reached on below average trading volume as 590,000 shares traded hands, while the average 30-day volume is approximately 845,000 shares.

Based on a current price of $35.78, Seattle Genetics is currently 27.1% above its average consensus analyst price target of $26.10. The stock should find initial support at its 50-day moving average (MA) of $30.00 and further support at its 200-day MA of $26.64.

Over the past year, Seattle Genetics has traded in a range of $17.09 to $36.99 and is now at $35.78, 109% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.9% while the 50-day MA has advanced 1.8%.

Seattle Genetics, Inc. discovers and develops monoclonal antibody-based drugs to treat cancer and related diseases. The Company's technologies increase the potency and efficacy of monoclonal antibodies with specificity for cancer.

By Peter Chu