Daiwa Securities Group Inc. Maintains Stake in Seattle Genetics, Inc. (SGEN)

Daiwa Securities Group Inc. held its position in Seattle Genetics, Inc. (NASDAQ:SGEN) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,650 shares of the biotechnology company’s stock at the end of the second quarter. Daiwa Securities Group Inc.’s holdings in Seattle Genetics were worth $137,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Grandfield & Dodd LLC increased its position in Seattle Genetics by 5.2% in the second quarter. Grandfield & Dodd LLC now owns 10,001 shares of the biotechnology company’s stock worth $517,000 after buying an additional 495 shares during the period. Spark Investment Management LLC increased its position 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 worth $7,197,000 after buying an additional 86,900 shares during the period. Great West Life Assurance Co. Can increased its position in Seattle Genetics by 4.2% in the second quarter. Great West Life Assurance Co. Can now owns 43,539 shares of the biotechnology company’s stock worth $2,250,000 after buying an additional 1,762 shares during the period. Parametrica Management Ltd increased its position in Seattle Genetics by 9.7% in the second quarter. Parametrica Management Ltd now owns 6,487 shares of the biotechnology company’s stock worth $336,000 after buying an additional 571 shares during the period. Finally, Quantitative Systematic Strategies LLC increased its position in Seattle Genetics by 59.2% in the second quarter. Quantitative Systematic Strategies LLC now owns 6,219 shares of the biotechnology company’s stock worth $331,000 after buying an additional 2,312 shares during the period. 98.21% of the stock is currently owned by institutional investors and hedge funds.

Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at 46.30 on Monday. Seattle Genetics, Inc. has a 12 month low of $42.58 and a 12 month high of $75.36. The stock’s market capitalization is $6.62 billion. The company’s 50 day moving average price is $50.86 and its 200-day moving average price is $60.76.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) 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 analyst estimates of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. Seattle Genetics’s revenue was up 13.4% on a year-over-year basis. During the same period in the prior year, the business posted ($0.23) EPS. Equities analysts predict that Seattle Genetics, Inc. will post ($1.70) earnings per share for the current year.

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A number of research firms recently weighed in on SGEN. Cantor Fitzgerald set a $46.00 price target on Seattle Genetics and gave the stock a “hold” rating in a research note on Wednesday, August 16th. BidaskClub downgraded Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Cowen and Company reaffirmed a “hold” rating and set a $54.00 price target on shares of Seattle Genetics in a research note on Friday, July 28th. ValuEngine downgraded Seattle Genetics from a “hold” rating to a “sell” rating in a research note on Friday, July 28th. Finally, Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $62.29.

In other news, CMO Jonathan G. Drachman sold 10,000 shares of the company’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $64.01, for a total value of $640,100.00. Following the completion of the sale, the chief marketing officer now directly owns 125,204 shares in the company, valued at approximately $8,014,308.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Clay B. Siegall sold 10,423 shares of the company’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $65.21, for a total value of $679,683.83. The disclosure for this sale can be found here. Insiders sold a total of 57,259 shares of company stock valued at $3,211,411 over the last 90 days. 34.70% of the stock is currently owned by company insiders.

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).

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

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