Fairfield Bush & CO. Has $868,000 Position in Seattle Genetics, Inc. (SGEN)

Fairfield Bush & CO. held its position in Seattle Genetics, Inc. (NASDAQ:SGEN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,772 shares of the biotechnology company’s stock at the close of the 2nd quarter. Fairfield Bush & CO.’s holdings in Seattle Genetics were worth $868,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its holdings in Seattle Genetics by 2.3% in the second quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock valued at $389,628,000 after acquiring an additional 167,828 shares during the period. BlackRock Inc. lifted its holdings in Seattle Genetics by 2.6% in the second quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock valued at $385,644,000 after acquiring an additional 185,823 shares during the period. State Street Corp lifted its holdings in Seattle Genetics by 10.9% in the first quarter. State Street Corp now owns 2,845,120 shares of the biotechnology company’s stock valued at $178,847,000 after acquiring an additional 279,079 shares during the period. Capital International Investors lifted its holdings in Seattle Genetics by 34.3% in the second quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock valued at $140,970,000 after acquiring an additional 695,986 shares during the period. Finally, Matrix Capital Management Company LP lifted its holdings in Seattle Genetics by 18.8% in the second quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock valued at $109,585,000 after acquiring an additional 335,000 shares during the period. 97.63% of the stock is owned by institutional investors.

In related news, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction dated Thursday, July 27th. The stock was sold at an average price of $54.54, for a total value of $545,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Darren S. Cline sold 1,788 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $85,627.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,929 shares of company stock valued at $8,342,308. Company insiders own 34.70% of the company’s stock.

SGEN has been the subject of a number of recent analyst reports. Cantor Fitzgerald reissued a “hold” rating and issued a $43.00 target price on shares of Seattle Genetics in a report on Monday, June 26th. ValuEngine downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a report on Friday, July 28th. Jefferies Group LLC reissued a “buy” rating and issued a $53.00 target price on shares of Seattle Genetics in a report on Thursday, July 27th. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Tuesday, August 29th. Finally, William Blair reaffirmed an “outperform” rating on shares of Seattle Genetics in a research note on Monday, June 26th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. Seattle Genetics presently has an average rating of “Hold” and an average target price of $61.00.

Seattle Genetics, Inc. (NASDAQ:SGEN) traded up 0.148% during mid-day trading on Tuesday, reaching $57.655. The company’s stock had a trading volume of 293,975 shares. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $75.36. The firm has a 50-day moving average of $52.72 and a 200 day moving average of $57.68. The firm’s market capitalization is $8.25 billion.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.42) by $0.03. The firm had revenue of $108.20 million during the quarter, compared to the consensus estimate of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The business’s revenue for the quarter was up 13.4% on a year-over-year basis. During the same period in the prior year, the business earned ($0.23) EPS. Equities analysts expect that Seattle Genetics, Inc. will post ($1.69) earnings per share for the current year.

ILLEGAL ACTIVITY NOTICE: This report was posted by Community Financial News and is the sole property of of Community Financial News. If you are accessing this report on another site, it was illegally stolen and republished in violation of United States and international trademark and copyright laws. The legal version of this report can be viewed at https://www.com-unik.info/2017/10/10/fairfield-bush-co-has-868000-position-in-seattle-genetics-inc-sgen.html.

Seattle Genetics Profile

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).

Institutional Ownership by Quarter for Seattle Genetics (NASDAQ:SGEN)

What are top analysts saying about Seattle Genetics Inc.? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Seattle Genetics Inc. and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit