Seattle Genetics, Inc. (SGEN) Holdings Trimmed by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio trimmed its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 29.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 63,075 shares of the biotechnology company’s stock after selling 26,110 shares during the period. Public Employees Retirement System of Ohio’s holdings in Seattle Genetics were worth $3,264,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Legal & General Group Plc boosted its stake in Seattle Genetics by 12.4% in the second quarter. Legal & General Group Plc now owns 109,089 shares of the biotechnology company’s stock valued at $5,644,000 after acquiring an additional 12,005 shares in the last quarter. Teachers Advisors LLC boosted its stake in Seattle Genetics by 24.0% in the first quarter. Teachers Advisors LLC now owns 356,948 shares of the biotechnology company’s stock valued at $22,438,000 after acquiring an additional 69,140 shares in the last quarter. Spark Investment Management LLC boosted its stake in Seattle Genetics by 166.5% in the second quarter. Spark Investment Management LLC now owns 139,100 shares of the biotechnology company’s stock valued at $7,197,000 after acquiring an additional 86,900 shares in the last quarter. State of Wisconsin Investment Board boosted its stake in Seattle Genetics by 104.4% in the second quarter. State of Wisconsin Investment Board now owns 40,343 shares of the biotechnology company’s stock valued at $2,087,000 after acquiring an additional 20,610 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its stake in Seattle Genetics by 6.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 40,200 shares of the biotechnology company’s stock valued at $2,080,000 after acquiring an additional 2,500 shares in the last quarter. Institutional investors own 97.13% of the company’s stock.

Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at 62.73 on Monday. The stock’s market cap is $8.97 billion. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $75.36. The stock’s 50 day moving average is $57.53 and its 200-day moving average is $57.66.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The company had revenue of $135.29 million during the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 33.16%. The business’s revenue was up 27.3% on a year-over-year basis. During the same quarter last year, the business earned ($0.23) EPS. On average, analysts predict that Seattle Genetics, Inc. will post ($1.69) EPS for the current fiscal year.

In other news, insider Vaughn B. Himes sold 6,377 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $47.89, for a total value of $305,394.53. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Clay B. Siegall sold 10,413 shares of the stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $48.91, for a total transaction of $509,299.83. The disclosure for this sale can be found here. Insiders sold a total of 173,761 shares of company stock valued at $8,949,050 in the last quarter. Insiders own 34.70% of the company’s stock.

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Several equities research analysts have weighed in on SGEN shares. Jefferies Group LLC restated a “buy” rating and issued a $53.00 target price on shares of Seattle Genetics in a research note on Thursday, July 27th. Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 price objective for the company in a research note on Tuesday, October 10th. Guggenheim reiterated a “buy” rating and set a $72.00 price objective on shares of Seattle Genetics in a research note on Monday, October 23rd. HC Wainwright reiterated a “buy” rating and set a $75.00 price objective on shares of Seattle Genetics in a research note on Friday. Finally, Barclays PLC lifted their price objective on shares of Seattle Genetics from $55.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Monday, October 16th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, nine 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 a consensus price target of $62.06.

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).

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

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