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Stock Investors Sell Off Shares of Seattle Genetics, Down 2.3%

Published on Thu, 02/21/2013 - 11:45
By Peter Chu

Seattle Genetics (NASDAQ:SGEN), a company whose shares are moving quickly, is trading 2.3% lower to $26.82. The Dow is down 0.3% to 13,878 and the S&P is currently down 0.5% to 1,505.

Seattle Genetics (NASDAQ:SGEN) is currently priced 11.1% above its average consensus analyst price target of $23.83. Seattle Genetics shares should encounter resistance at the 50-day moving average (MA) of $26.94 and support at its 200-day MA of $25.36.

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.

Over the past year, Seattle Genetics has traded in a range of $17.09 to $30.85 and is now at $26.82, 57% above that low. Over the past week, the 200-day moving average (MA) has gone up 0.3% while the 50-day MA has advanced 0.3%.

By Peter Chu