Toronto Dominion Bank lifted its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 244.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 4,219 shares of the biotechnology company’s stock after buying an additional 2,994 shares during the quarter. Toronto Dominion Bank’s holdings in Seattle Genetics were worth $230,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. First Manhattan Co. grew its holdings in shares of Seattle Genetics by 31.3% during the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after buying an additional 750 shares in the last quarter. Bristlecone Advisors LLC purchased a new stake in shares of Seattle Genetics during the third quarter worth about $180,000. DRW Securities LLC purchased a new stake in shares of Seattle Genetics during the second quarter worth about $207,000. Andra AP fonden purchased a new stake in shares of Seattle Genetics during the second quarter worth about $212,000. Finally, Tower Research Capital LLC TRC grew its holdings in shares of Seattle Genetics by 6,835.5% during the second quarter. Tower Research Capital LLC TRC now owns 4,300 shares of the biotechnology company’s stock worth $223,000 after buying an additional 4,238 shares in the last quarter. Institutional investors and hedge funds own 96.93% of the company’s stock.
A number of equities research analysts have recently commented on SGEN shares. Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a report on Tuesday, October 10th. Jefferies Group LLC reiterated a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a report on Thursday, September 14th. Guggenheim reiterated a “buy” rating and set a $72.00 price target on shares of Seattle Genetics in a report on Monday, October 23rd. HC Wainwright reiterated a “buy” rating and set a $75.00 price target on shares of Seattle Genetics in a report on Friday, October 27th. Finally, TheStreet upgraded shares of Seattle Genetics from a “d” rating to a “c” rating in a report on Thursday, November 16th. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $63.53.
Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at $58.94 on Monday. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $71.87.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.23. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The firm had revenue of $135.29 million during the quarter, compared to the consensus estimate of $112.76 million. During the same period in the previous year, the firm earned ($0.23) earnings per share. Seattle Genetics’s revenue was up 27.3% compared to the same quarter last year. analysts forecast that Seattle Genetics, Inc. will post -0.93 earnings per share for the current fiscal year.
In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $53.49, for a total transaction of $1,007,323.68. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, COO Eric Dobmeier sold 25,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $52.24, for a total transaction of $1,306,000.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 200,712 shares of company stock worth $11,416,273. 34.70% of the stock is currently owned by corporate insiders.
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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