Capital International Sarl raised its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 4.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 103,522 shares of the biotechnology company’s stock after purchasing an additional 4,352 shares during the period. Seattle Genetics accounts for approximately 1.8% of Capital International Sarl’s holdings, making the stock its 9th biggest position. Capital International Sarl owned 0.06% of Seattle Genetics worth $11,828,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Capital International Investors boosted its stake in shares of Seattle Genetics by 2.1% during the fourth quarter. Capital International Investors now owns 18,262,302 shares of the biotechnology company’s stock valued at $2,086,651,000 after purchasing an additional 378,511 shares in the last quarter. State Street Corp raised its stake in shares of Seattle Genetics by 3.9% during the third quarter. State Street Corp now owns 3,292,202 shares of the biotechnology company’s stock valued at $281,154,000 after purchasing an additional 123,424 shares during the period. FMR LLC raised its stake in shares of Seattle Genetics by 116.1% during the fourth quarter. FMR LLC now owns 1,511,717 shares of the biotechnology company’s stock valued at $172,729,000 after purchasing an additional 812,103 shares during the period. First Trust Advisors LP raised its stake in shares of Seattle Genetics by 18.0% during the fourth quarter. First Trust Advisors LP now owns 1,092,861 shares of the biotechnology company’s stock valued at $124,870,000 after purchasing an additional 166,782 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in shares of Seattle Genetics by 14.7% during the fourth quarter. Pictet Asset Management Ltd. now owns 766,148 shares of the biotechnology company’s stock valued at $87,540,000 after purchasing an additional 98,322 shares during the period. 94.63% of the stock is owned by institutional investors and hedge funds.
SGEN stock traded up $7.66 during trading on Thursday, hitting $113.12. 401,194 shares of the company’s stock traded hands, compared to its average volume of 1,546,181. Seattle Genetics, Inc. has a 52 week low of $62.90 and a 52 week high of $124.32. The stock has a fifty day moving average price of $111.06 and a two-hundred day moving average price of $104.34. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of -115.43 and a beta of 1.72.
Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, February 6th. The biotechnology company reported $0.15 earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.60. The firm had revenue of $289.80 million during the quarter, compared to analyst estimates of $219.21 million. Seattle Genetics had a negative net margin of 17.31% and a negative return on equity of 13.99%. The firm’s revenue for the quarter was up 66.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.75) earnings per share. As a group, equities analysts forecast that Seattle Genetics, Inc. will post -2.95 earnings per share for the current fiscal year.
In related news, CEO Clay B. Siegall sold 28,472 shares of the firm’s stock in a transaction dated Monday, March 9th. The stock was sold at an average price of $110.09, for a total value of $3,134,482.48. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Vaughn B. Himes sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The shares were sold at an average price of $114.91, for a total value of $919,280.00. The disclosure for this sale can be found here. Insiders sold 93,766 shares of company stock valued at $10,527,157 over the last 90 days. 33.80% of the stock is currently owned by corporate insiders.
SGEN has been the topic of a number of analyst reports. BidaskClub upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Saturday, March 21st. Morgan Stanley dropped their price objective on shares of Seattle Genetics from $123.00 to $115.00 and set an “equal weight” rating on the stock in a research report on Friday, January 17th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a research report on Tuesday, February 11th. Piper Jaffray Companies increased their price objective on shares of Seattle Genetics from $120.00 to $130.00 and gave the company an “overweight” rating in a research report on Friday, December 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $150.00 price objective (up from $140.00) on shares of Seattle Genetics in a research report on Wednesday, February 12th. Ten research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $119.33.
Seattle Genetics Profile
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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