Atria Investments LLC boosted its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 29.0% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,427 shares of the biotechnology company’s stock after buying an additional 1,220 shares during the period. Atria Investments LLC’s holdings in Seattle Genetics were worth $281,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Seattle Genetics by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,362,687 shares of the biotechnology company’s stock worth $462,818,000 after buying an additional 275,044 shares during the last quarter. BlackRock Inc. boosted its stake in shares of Seattle Genetics by 6,338.2% in the first quarter. BlackRock Inc. now owns 7,267,660 shares of the biotechnology company’s stock worth $456,845,000 after buying an additional 7,154,776 shares during the last quarter. State Street Corp boosted its stake in shares of Seattle Genetics by 10.9% in the first quarter. State Street Corp now owns 2,845,120 shares of the biotechnology company’s stock worth $178,847,000 after buying an additional 279,079 shares during the last quarter. Norges Bank acquired a new stake in Seattle Genetics during the fourth quarter valued at $57,470,000. Finally, Geode Capital Management LLC boosted its stake in Seattle Genetics by 8.3% in the first quarter. Geode Capital Management LLC now owns 795,339 shares of the biotechnology company’s stock valued at $49,976,000 after buying an additional 60,696 shares in the last quarter. Hedge funds and other institutional investors own 97.91% of the company’s stock.
Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) traded up 0.26% during mid-day trading on Friday, reaching $46.32. The company had a trading volume of 1,002,288 shares. The company’s market cap is $6.63 billion. The firm’s 50-day moving average price is $52.63 and its 200 day moving average price is $61.26. Seattle Genetics, Inc. has a 52-week low of $42.58 and a 52-week high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating 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 company had revenue of $108.20 million during the quarter, compared to analyst estimates of $105.92 million. During the same quarter in the previous year, the company posted ($0.23) EPS. Seattle Genetics’s revenue for the quarter was up 13.4% on a year-over-year basis. Equities analysts expect that Seattle Genetics, Inc. will post ($1.70) EPS for the current year.
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Several equities research analysts have recently weighed in on SGEN shares. Needham & Company LLC reissued a “buy” rating and issued a $72.00 price objective on shares of Seattle Genetics in a research report on Tuesday, June 20th. HC Wainwright increased their price objective on Seattle Genetics from $65.00 to $75.00 and gave the company a “buy” rating in a research report on Friday, April 28th. Jefferies Group LLC reissued a “buy” rating and issued a $53.00 price objective on shares of Seattle Genetics in a research report on Thursday, July 27th. TheStreet cut Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Finally, Zacks Investment Research raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Five investment analysts have rated the stock with a sell rating, ten have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $62.07.
In other news, insider Clay B. Siegall sold 10,413 shares of the business’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $48.91, for a total value of $509,299.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of the business’s stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $54.54, for a total value of $545,400.00. The disclosure for this sale can be found here. In the last three months, insiders sold 57,259 shares of company stock valued at $3,211,411. 33.30% of the stock is currently owned by corporate insiders.
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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