Pacer Advisors Inc. decreased its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 2.5% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 13,558 shares of the biotechnology company’s stock after selling 350 shares during the quarter. Pacer Advisors Inc.’s holdings in Seattle Genetics were worth $2,304,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SGEN. Capital World Investors bought a new position in shares of Seattle Genetics in the first quarter worth about $33,737,000. Strs Ohio lifted its holdings in shares of Seattle Genetics by 255.6% in the second quarter. Strs Ohio now owns 21,358 shares of the biotechnology company’s stock worth $3,629,000 after acquiring an additional 15,352 shares during the last quarter. Mackenzie Financial Corp bought a new position in shares of Seattle Genetics in the first quarter worth about $379,000. Baird Financial Group Inc. lifted its holdings in shares of Seattle Genetics by 2.5% in the first quarter. Baird Financial Group Inc. now owns 4,300 shares of the biotechnology company’s stock worth $496,000 after acquiring an additional 103 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of Seattle Genetics by 52.9% in the first quarter. US Bancorp DE now owns 11,359 shares of the biotechnology company’s stock worth $1,311,000 after acquiring an additional 3,932 shares during the last quarter. 94.61% of the stock is owned by institutional investors and hedge funds.
SGEN has been the subject of a number of research reports. Guggenheim raised shares of Seattle Genetics from a “neutral” rating to a “buy” rating in a report on Friday, May 1st. BMO Capital Markets upped their price objective on Seattle Genetics from $174.00 to $186.00 in a research note on Tuesday, June 30th. Piper Sandler downgraded Seattle Genetics from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $155.00 to $165.00 in a research note on Friday, July 24th. Cfra upped their price objective on Seattle Genetics from $122.00 to $129.00 and gave the company a “sell” rating in a research note on Friday, May 1st. Finally, Barclays reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Sunday, May 3rd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $150.16.
In other news, insider Vaughn B. Himes sold 8,000 shares of Seattle Genetics stock in a transaction on Friday, July 17th. The stock was sold at an average price of $179.42, for a total transaction of $1,435,360.00. Following the sale, the insider now directly owns 199,840 shares in the company, valued at approximately $35,855,292.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $175.08, for a total value of $4,984,877.76. The disclosure for this sale can be found here. Insiders have sold a total of 721,041 shares of company stock worth $115,476,023 over the last quarter. Company insiders own 31.10% of the company’s stock.
Shares of NASDAQ:SGEN opened at $166.27 on Friday. The stock’s fifty day simple moving average is $169.28 and its two-hundred day simple moving average is $137.30. Seattle Genetics, Inc. has a 1-year low of $65.44 and a 1-year high of $187.99.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Thursday, July 30th. The biotechnology company reported ($0.12) earnings per share for the quarter, beating the consensus estimate of ($0.58) by $0.46. Seattle Genetics had a negative return on equity of 18.34% and a negative net margin of 25.17%. The business had revenue of $278.00 million for the quarter, compared to analysts’ expectations of $256.74 million. As a group, sell-side analysts forecast that Seattle Genetics, Inc. will post -2.69 earnings per share for the current year.
Seattle Genetics Company Profile
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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