Landscape Capital Management L.L.C. acquired a new position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor acquired 16,964 shares of the biotechnology company’s stock, valued at approximately $908,000.
Several other hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company lifted its stake in Seattle Genetics by 6.6% in the second quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares during the last quarter. Eqis Capital Management Inc. raised its stake in shares of Seattle Genetics by 3.6% during the fourth quarter. Eqis Capital Management Inc. now owns 26,087 shares of the biotechnology company’s stock valued at $1,396,000 after purchasing an additional 916 shares in the last quarter. JGP Global Gestao de Recursos Ltda. raised its stake in shares of Seattle Genetics by 4.9% during the third quarter. JGP Global Gestao de Recursos Ltda. now owns 20,603 shares of the biotechnology company’s stock valued at $1,121,000 after purchasing an additional 969 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Seattle Genetics by 8.7% during the third quarter. Advisors Asset Management Inc. now owns 12,663 shares of the biotechnology company’s stock valued at $689,000 after purchasing an additional 1,012 shares in the last quarter. Finally, Amalgamated Bank raised its stake in shares of Seattle Genetics by 5.8% during the fourth quarter. Amalgamated Bank now owns 19,142 shares of the biotechnology company’s stock valued at $1,024,000 after purchasing an additional 1,043 shares in the last quarter. Institutional investors and hedge funds own 93.13% of the company’s stock.
Several brokerages have commented on SGEN. TheStreet upgraded shares of Seattle Genetics from a “d” rating to a “c” rating in a research report on Thursday, November 16th. Cowen reissued a “hold” rating on shares of Seattle Genetics in a research note on Tuesday. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Thursday, December 7th. Finally, HC Wainwright reissued a “buy” rating and issued a $75.00 price target on shares of Seattle Genetics in a research note on Thursday, February 1st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have given a buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of “Hold” and an average price target of $64.25.
Shares of Seattle Genetics, Inc. (NASDAQ SGEN) traded down $0.73 on Wednesday, hitting $58.59. The stock had a trading volume of 754,541 shares, compared to its average volume of 1,400,000. The firm has a market capitalization of $9,250.00, a price-to-earnings ratio of -651.00 and a beta of 1.96. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. The company had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. Seattle Genetics’s revenue was up 23.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.39) earnings per share. sell-side analysts expect that Seattle Genetics, Inc. will post -1.59 EPS for the current fiscal year.
In other Seattle Genetics news, Director Bros. Advisors Lp Baker acquired 3,846,153 shares of the business’s stock in a transaction dated Thursday, February 1st. The stock was bought at an average cost of $52.00 per share, with a total value of $199,999,956.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction that occurred on Friday, March 9th. The stock was sold at an average price of $57.32, for a total value of $1,079,450.24. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,953 shares of company stock valued at $3,542,588. Corporate insiders own 34.70% of the company’s stock.
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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).
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