Andra AP fonden bought a new position in Seattle Genetics, Inc. (NASDAQ:SGEN) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 4,100 shares of the biotechnology company’s stock, valued at approximately $212,000.
A number of other institutional investors have also recently added to or reduced their stakes in SGEN. Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in Seattle Genetics during the 1st quarter valued at approximately $119,000. First Manhattan Co. grew its holdings in Seattle Genetics by 31.3% during the 2nd quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock valued at $162,000 after buying an additional 750 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in Seattle Genetics by 562.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 2,250 shares in the last quarter. Meeder Asset Management Inc. grew its holdings in Seattle Genetics by 1,580.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock valued at $205,000 after buying an additional 3,715 shares in the last quarter. Finally, Capital Fund Management S.A. bought a new position in shares of Seattle Genetics during the 1st quarter valued at approximately $208,000. 97.63% of the stock is owned by institutional investors.
SGEN has been the subject of a number of research reports. BidaskClub downgraded Seattle Genetics from a “sell” rating to a “strong sell” rating in a research report on Wednesday, August 2nd. Jefferies Group LLC reiterated a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a research report on Thursday, July 27th. Cantor Fitzgerald reiterated a “hold” rating on shares of Seattle Genetics in a research report on Tuesday, August 29th. ValuEngine upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Friday, September 1st. Finally, Piper Jaffray Companies restated a “neutral” rating and issued a $48.00 price target on shares of Seattle Genetics in a research report on Tuesday, June 27th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Hold” and a consensus target price of $61.77.
Shares of Seattle Genetics, Inc. (NASDAQ SGEN) traded up 0.23% during trading on Friday, hitting $52.48. The stock had a trading volume of 418,083 shares. The stock’s market cap is $7.51 billion. Seattle Genetics, Inc. has a 12 month low of $45.31 and a 12 month high of $75.36. The company’s 50 day moving average price is $49.71 and its 200 day moving average price is $58.82.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The business had revenue of $108.20 million during the quarter, compared to analyst estimates of $105.92 million. During the same period in the prior year, the company posted ($0.23) EPS. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Equities research analysts expect that Seattle Genetics, Inc. will post ($1.68) earnings per share for the current fiscal year.
In other Seattle Genetics news, CEO Clay B. Siegall sold 10,423 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $51.98, for a total value of $541,787.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vaughn B. Himes sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. The disclosure for this sale can be found here. Insiders sold a total of 175,352 shares of company stock valued at $8,884,096 over the last three months. Corporate insiders own 34.70% of the company’s stock.
About Seattle Genetics
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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