Asset Management One Co. Ltd. boosted its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 18.3% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,510 shares of the biotechnology company’s stock after purchasing an additional 30,697 shares during the quarter. Asset Management One Co. Ltd. owned about 0.14% of Seattle Genetics worth $10,779,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also bought and sold shares of the company. Quantbot Technologies LP boosted its position in shares of Seattle Genetics by 116.5% in the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 1,428 shares during the period. Bristlecone Advisors LLC bought a new stake in shares of Seattle Genetics in the third quarter valued at approximately $180,000. Caisse DE Depot ET Placement DU Quebec bought a new stake in shares of Seattle Genetics in the third quarter valued at approximately $208,000. DRW Securities LLC bought a new stake in shares of Seattle Genetics in the second quarter valued at approximately $207,000. Finally, Andra AP fonden bought a new stake in shares of Seattle Genetics in the second quarter valued at approximately $212,000. 98.94% of the stock is owned by institutional investors.
In other news, CFO Todd E. Simpson sold 39,385 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total value of $1,152,141.76. The disclosure for this sale can be found here. Insiders have sold 157,210 shares of company stock valued at $9,273,250 over the last quarter. Corporate insiders own 34.70% of the company’s stock.
Several research firms have recently weighed in on SGEN. Cowen reissued a “hold” rating and issued a $54.00 price objective on shares of Seattle Genetics in a research report on Monday, December 11th. Cantor Fitzgerald set a $50.00 price objective on Seattle Genetics and gave the company a “hold” rating in a research report on Tuesday, December 12th. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Oppenheimer reissued a “hold” rating on shares of Seattle Genetics in a research report on Thursday, December 7th. Finally, TheStreet raised Seattle Genetics from a “d” rating to a “c” rating in a research report on Thursday, November 16th. One analyst has rated the stock with a sell rating, thirteen have given a hold rating, ten have given a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics currently has an average rating of “Hold” and an average price target of $63.76.
Seattle Genetics, Inc. (NASDAQ SGEN) opened at $52.55 on Friday. Seattle Genetics, Inc. has a 12 month low of $45.31 and a 12 month high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The firm had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. During the same period in the prior year, the company posted ($0.23) earnings per share. The business’s revenue for the quarter was up 27.3% compared to the same quarter last year. sell-side analysts anticipate that Seattle Genetics, Inc. will post -0.93 EPS for the current year.
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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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