Capital International Investors boosted its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 63.7% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 4,460,246 shares of the biotechnology company’s stock after acquiring an additional 1,735,657 shares during the period. Capital International Investors owned about 3.10% of Seattle Genetics worth $242,682,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Seattle Genetics by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock worth $389,628,000 after acquiring an additional 167,828 shares during the period. BlackRock Inc. grew its stake in Seattle Genetics by 2.6% in the 2nd quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock worth $385,644,000 after acquiring an additional 185,823 shares during the period. Manning & Napier Advisors LLC purchased a new stake in Seattle Genetics in the 3rd quarter worth approximately $140,098,000. Matrix Capital Management Company LP boosted its holdings in shares of Seattle Genetics by 18.8% in the 2nd quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock valued at $109,585,000 after purchasing an additional 335,000 shares during the last quarter. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Seattle Genetics by 79.3% in the 3rd quarter. Pictet Asset Management Ltd. now owns 1,266,426 shares of the biotechnology company’s stock valued at $68,906,000 after purchasing an additional 560,110 shares during the last quarter. 98.96% of the stock is owned by hedge funds and other institutional investors.
Seattle Genetics, Inc. (SGEN) opened at $59.26 on Monday. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The business had revenue of $135.29 million for the quarter, compared to analyst estimates of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The business’s quarterly revenue was up 27.3% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.23) EPS. research analysts expect that Seattle Genetics, Inc. will post -0.93 earnings per share for the current year.
A number of equities analysts have weighed in 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 on the stock in a report on Tuesday, October 10th. Jefferies Group reiterated a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a report on Thursday, September 14th. Guggenheim reiterated a “buy” rating and issued a $72.00 price target on shares of Seattle Genetics in a report on Monday, October 23rd. HC Wainwright reiterated a “buy” rating and issued 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. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $63.53.
In related news, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction on Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total transaction of $1,152,141.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Marc E. Lippman sold 3,000 shares of Seattle Genetics stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $58.07, for a total transaction of $174,210.00. The disclosure for this sale can be found here. Insiders have sold a total of 138,378 shares of company stock worth $8,229,957 in the last 90 days. Company 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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