Paloma Partners Management Co bought a new stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 13,143 shares of the biotechnology company’s stock, valued at approximately $704,000.
A number of other institutional investors and hedge funds have also modified their holdings of SGEN. Capital International Investors boosted its stake in Seattle Genetics by 63.7% during the 3rd quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock valued at $242,682,000 after purchasing an additional 1,735,657 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of Seattle Genetics by 92.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock valued at $132,139,000 after buying an additional 1,184,491 shares during the period. Capital Guardian Trust Co. lifted its holdings in shares of Seattle Genetics by 82.2% during the 3rd quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock valued at $57,909,000 after buying an additional 480,044 shares during the period. Capital Bank & Trust Co lifted its holdings in shares of Seattle Genetics by 43.7% during the 3rd quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after buying an additional 253,753 shares during the period. Finally, BlackRock Inc. lifted its holdings in shares of Seattle Genetics by 2.9% during the 4th quarter. BlackRock Inc. now owns 7,756,494 shares of the biotechnology company’s stock valued at $414,975,000 after buying an additional 220,955 shares during the period. Institutional investors and hedge funds own 93.09% of the company’s stock.
Seattle Genetics stock opened at $54.12 on Thursday. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last announced its 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. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The company had revenue of $129.61 million for the quarter, compared to analysts’ expectations of $123.99 million. During the same period last year, the firm earned ($0.39) EPS. Seattle Genetics’s revenue for the quarter was up 23.1% compared to the same quarter last year. equities research analysts anticipate that Seattle Genetics, Inc. will post -1.53 EPS for the current fiscal year.
Several equities analysts have recently weighed in on the company. Cowen reissued a “hold” rating on shares of Seattle Genetics in a report on Tuesday, March 13th. BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a report on Saturday, December 9th. Oppenheimer reissued a “hold” rating on shares of Seattle Genetics in a report on Thursday, December 7th. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Seattle Genetics in a report on Thursday, February 1st. Finally, Barclays assumed coverage on Seattle Genetics in a report on Tuesday. They set an “overweight” rating and a $74.00 price target on the stock. Ten equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $64.63.
In related news, insider Vaughn B. Himes sold 5,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $58.12, for a total value of $290,600.00. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction on Friday, February 9th. The stock was sold at an average price of $49.75, for a total value of $936,892.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 71,953 shares of company stock worth $3,833,188. 34.70% of the stock is owned by insiders.
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Seattle Genetics Company 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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