Neuburgh Advisers LLC bought a new stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the 2nd quarter, according to its most recent filing with the SEC. The fund bought 1,360 shares of the biotechnology company’s stock, valued at approximately $94,000.
Other institutional investors have also modified their holdings of the company. Partners Capital Investment Group LLP lifted its holdings in Seattle Genetics by 9.0% during the 2nd quarter. Partners Capital Investment Group LLP now owns 105,784 shares of the biotechnology company’s stock valued at $7,321,000 after purchasing an additional 8,769 shares during the last quarter. Tiverton Asset Management LLC bought a new position in Seattle Genetics during the 2nd quarter valued at about $417,000. Resources Investment Advisors LLC. lifted its holdings in Seattle Genetics by 310.0% during the 2nd quarter. Resources Investment Advisors LLC. now owns 1,025 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 775 shares during the last quarter. Quantamental Technologies LLC bought a new position in Seattle Genetics during the 2nd quarter valued at about $109,000. Finally, Fosun International Ltd lifted its holdings in Seattle Genetics by 9.0% during the 2nd quarter. Fosun International Ltd now owns 132,605 shares of the biotechnology company’s stock valued at $8,924,000 after purchasing an additional 11,000 shares during the last quarter. Institutional investors and hedge funds own 99.14% of the company’s stock.
Shares of SGEN traded up $0.40 on Friday, reaching $71.28. 12,454 shares of the company’s stock were exchanged, compared to its average volume of 594,080. The stock has a market capitalization of $11.10 billion, a P/E ratio of -43.18 and a beta of 1.97. The business has a 50 day moving average price of $74.81 and a two-hundred day moving average price of $71.72. Seattle Genetics, Inc. has a 12 month low of $50.71 and a 12 month high of $84.37.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.39) by ($0.10). The business had revenue of $218.45 million for the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The company’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. As a group, equities analysts forecast that Seattle Genetics, Inc. will post -1.31 EPS for the current fiscal year.
SGEN has been the subject of several analyst reports. BTIG Research initiated coverage on shares of Seattle Genetics in a report on Monday, August 26th. They set a “neutral” rating for the company. BidaskClub downgraded shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a report on Tuesday. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating and set a $72.00 price target for the company in a report on Wednesday, May 29th. Oppenheimer raised shares of Seattle Genetics from a “market perform” rating to an “outperform” rating and lifted their price target for the company from $77.00 to $82.00 in a report on Thursday. Finally, ValuEngine raised shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a report on Wednesday, July 17th. Two research analysts have rated the stock with a sell rating, five have given a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $84.17.
In related news, CEO Clay B. Siegall sold 28,951 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $73.21, for a total transaction of $2,119,502.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Vaughn B. Himes sold 6,836 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $73.21, for a total transaction of $500,463.56. The disclosure for this sale can be found here. Over the last three months, insiders have sold 164,519 shares of company stock valued at $11,919,491. 33.80% of the stock is currently owned by insiders.
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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