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Shares of Seattle Genetics Rise Above Previous 52-Week High

By David Diaz

Seattle Genetics (NASDAQ:SGEN) traded today at a new 52-week high of $55.25. This new high was reached on below average trading volume as 139,000 shares traded hands, while the average 30-day volume is approximately 954,000 shares.

In the past 52 weeks, Seattle Genetics share prices have been bracketed by a low of $26.02 and a high of $55.25 and are now at $54.97, 111% above that low price. In the last five trading sessions, the 50-day moving average (MA) has climbed 1.0% while the 200-day MA has slid 0.8%.

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.

Based on a current price of $54.97, Seattle Genetics is currently 9.6% above its average consensus analyst price target of $49.69. The stock should discover initial support at its 200-day moving average (MA) of $39.22 and subsequent support at its 50-day MA of $35.07.

SmarTrend is monitoring the recent change of momentum in Seattle Genetics. Please refer to our Company Overview for the results of our proprietary technical indicators that have been scanning shares of Seattle Genetics in search of a potential trend change.

Keywords: 52 week high/lows seattle genetics

Ticker(s): SGEN