CWM Advisors LLC cut its holdings in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 31.4% in the fourth quarter, HoldingsChannel reports. The fund owned 5,052 shares of the biotechnology company’s stock after selling 2,312 shares during the quarter. CWM Advisors LLC’s holdings in Seattle Genetics were worth $577,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Seattle Genetics by 7.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 19,639 shares of the biotechnology company’s stock worth $1,677,000 after acquiring an additional 1,351 shares during the period. Parametric Portfolio Associates LLC lifted its holdings in shares of Seattle Genetics by 1.7% during the 3rd quarter. Parametric Portfolio Associates LLC now owns 164,099 shares of the biotechnology company’s stock valued at $14,014,000 after buying an additional 2,803 shares during the last quarter. Redpoint Investment Management Pty Ltd acquired a new stake in shares of Seattle Genetics during the 3rd quarter valued at about $212,000. Castleark Management LLC acquired a new stake in shares of Seattle Genetics during the 3rd quarter valued at about $2,673,000. Finally, University of Notre Dame DU Lac lifted its holdings in shares of Seattle Genetics by 48.9% during the 2nd quarter. University of Notre Dame DU Lac now owns 56,092 shares of the biotechnology company’s stock valued at $3,882,000 after buying an additional 18,433 shares during the last quarter. Hedge funds and other institutional investors own 95.76% of the company’s stock.
Shares of SGEN stock opened at $113.57 on Friday. The stock’s 50 day simple moving average is $112.84 and its 200 day simple moving average is $93.01. Seattle Genetics, Inc. has a twelve month low of $62.90 and a twelve month high of $122.36. The company has a market capitalization of $19.46 billion, a price-to-earnings ratio of -60.73 and a beta of 1.98.
Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings data on Tuesday, October 29th. The biotechnology company reported ($0.55) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.36) by ($0.19). Seattle Genetics had a negative net margin of 37.97% and a negative return on equity of 19.17%. The company had revenue of $213.26 million during the quarter, compared to the consensus estimate of $211.85 million. During the same period in the previous year, the business posted ($0.42) earnings per share. The firm’s revenue was up 25.9% on a year-over-year basis. Sell-side analysts predict that Seattle Genetics, Inc. will post -1.57 earnings per share for the current fiscal year.
Several equities research analysts have recently issued reports on the company. Svb Leerink reiterated an “outperform” rating on shares of Seattle Genetics in a report on Wednesday, October 2nd. BidaskClub upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a report on Saturday. Piper Jaffray Companies lifted their price target on Seattle Genetics from $120.00 to $130.00 and gave the company an “overweight” rating in a report on Friday, December 20th. Royal Bank of Canada lifted their price target on Seattle Genetics from $80.00 to $109.00 and gave the company an “outperform” rating in a report on Tuesday, October 22nd. Finally, Deutsche Bank lifted their price target on Seattle Genetics from $88.00 to $95.00 and gave the company a “hold” rating in a report on Tuesday, October 22nd. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $112.06.
In other Seattle Genetics news, CEO Lip Bu Tan sold 50,000 shares of Seattle Genetics stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $67.09, for a total value of $3,354,500.00. Also, CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction that occurred on Friday, November 8th. The stock was sold at an average price of $107.61, for a total value of $3,063,871.92. The disclosure for this sale can be found here. Insiders sold a total of 207,916 shares of company stock worth $21,351,597 over the last three months. 33.80% of the stock is owned by company 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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