JGP Global Gestao de Recursos Ltda. Has $2.66 Million Stake in Seattle Genetics, Inc. (NASDAQ:SGEN)

JGP Global Gestao de Recursos Ltda. increased its holdings in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 0.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,290 shares of the biotechnology company’s stock after buying an additional 120 shares during the period. Seattle Genetics accounts for about 0.9% of JGP Global Gestao de Recursos Ltda.’s investment portfolio, making the stock its 13th biggest holding. JGP Global Gestao de Recursos Ltda.’s holdings in Seattle Genetics were worth $2,661,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also bought and sold shares of the company. NEXT Financial Group Inc boosted its stake in Seattle Genetics by 333.3% in the third quarter. NEXT Financial Group Inc now owns 325 shares of the biotechnology company’s stock valued at $28,000 after acquiring an additional 250 shares during the last quarter. CSat Investment Advisory L.P. bought a new stake in shares of Seattle Genetics during the 2nd quarter valued at $27,000. Usca Ria LLC bought a new stake in shares of Seattle Genetics during the 3rd quarter valued at $34,000. Quadrant Capital Group LLC raised its position in shares of Seattle Genetics by 215.4% during the 3rd quarter. Quadrant Capital Group LLC now owns 511 shares of the biotechnology company’s stock valued at $42,000 after acquiring an additional 349 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its stake in shares of Seattle Genetics by 3,607.7% in the 3rd quarter. Meeder Asset Management Inc. now owns 964 shares of the biotechnology company’s stock valued at $82,000 after purchasing an additional 938 shares during the period. 95.76% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ SGEN traded down $2.91 during mid-day trading on Friday, reaching $112.44. 70,992 shares of the company’s stock were exchanged, compared to its average volume of 771,413. The firm has a market capitalization of $19.14 billion, a price-to-earnings ratio of -60.14 and a beta of 1.98. The business has a fifty day simple moving average of $112.91 and a 200 day simple moving average of $92.79. Seattle Genetics, Inc. has a twelve month low of $62.90 and a twelve month high of $122.36.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.36) by ($0.19). Seattle Genetics had a negative net margin of 37.97% and a negative return on equity of 19.17%. The business had revenue of $213.26 million during the quarter, compared to analyst estimates of $211.85 million. During the same quarter in the prior year, the firm posted ($0.42) earnings per share. Seattle Genetics’s revenue for the quarter was up 25.9% compared to the same quarter last year. As a group, research analysts predict that Seattle Genetics, Inc. will post -1.57 EPS for the current year.

Several research analysts have recently issued reports on SGEN shares. Goldman Sachs Group upgraded Seattle Genetics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $100.00 in a research report on Friday, September 27th. Stifel Nicolaus increased their target price on Seattle Genetics from $87.00 to $101.00 in a research note on Thursday, December 19th. Morgan Stanley cut their target price on Seattle Genetics from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research note on Friday, January 17th. Guggenheim cut Seattle Genetics from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Finally, ValuEngine lowered Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $112.06.

In other Seattle Genetics news, CEO Lip Bu Tan sold 50,000 shares of the stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $67.09, for a total transaction of $3,354,500.00. Also, CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction dated Friday, November 8th. The shares were sold at an average price of $107.61, for a total value of $3,063,871.92. The disclosure for this sale can be found here. Insiders have sold a total of 207,916 shares of company stock worth $21,351,597 over the last 90 days. Corporate insiders own 33.80% of the company’s stock.

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

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