Seattle Genetics, Inc. (SGEN) was a big mover last session, as its shares rose over 8% on the day. The upside was driven by the pricing of underwritten public offering by the company. This also led to far more shares changing hands than in a normal session. Friday’s rally breaks the recent trend for the company since Aug 19, as the stock is now trading above the volatile price range of $38.74 to $44.76.
Over the last 30 days, the company witnessed one positive estimate revision while the Zacks Consensus Estimate remained unchanged. Friday’s price action is encouraging though, so make sure to keep a close watch on this firm in the near future.