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Recent 52-Week High Exceeded in Shares of Seattle Genetics (SGEN)

By Nick Russo

Seattle Genetics (NASDAQ:SGEN) traded today at a new 52-week high of $70.74. This new high was reached on below average trading volume as 117,000 shares traded hands, while the average 30-day volume is approximately 936,000 shares.

In the past 52 weeks, shares of Seattle Genetics have traded between a low of $45.31 and a high of $70.74 and are now at $70.71, which is 56% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 2.4% while the 200-day MA has risen 0.6%.

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.

Seattle Genetics (NASDAQ:SGEN) is currently priced 7.9% above its average consensus analyst price target of $65.09. The stock should find initial support at its 50-day moving average (MA) of $62.06 and further support at its 200-day MA of $57.18.

SmarTrend is tracking the current trend status for Seattle Genetics and will alert subscribers who have SGEN in their portfolio or watchlist when shares have changed trend direction.

Keywords: 52 week high/lows seattle genetics

Ticker(s): SGEN