GSA Capital Partners LLP reduced its stake in shares of Seattle Genetics Inc. (NASDAQ:SGEN) by 73.6% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 5,529 shares of the company’s stock after selling 15,405 shares during the period. GSA Capital Partners LLP’s holdings in Seattle Genetics were worth $223,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of the stock. Commonwealth Equity Services Inc boosted its stake in shares of Seattle Genetics by 0.4% in the second quarter. Commonwealth Equity Services Inc now owns 5,942 shares of the company’s stock valued at $240,000 after buying an additional 25 shares during the last quarter. State Board of Administration of Florida Retirement System boosted its stake in shares of Seattle Genetics by 17.6% in the second quarter. State Board of Administration of Florida Retirement System now owns 179,627 shares of the company’s stock valued at $7,258,000 after buying an additional 26,935 shares during the last quarter. Calvert Investment Management Inc. bought a new stake in shares of Seattle Genetics during the second quarter valued at $250,000. Emerald Acquisition Ltd. bought a new stake in shares of Seattle Genetics during the second quarter valued at $16,220,000. Finally, Commerzbank Aktiengesellschaft FI boosted its stake in shares of Seattle Genetics by 0.8% in the second quarter. Commerzbank Aktiengesellschaft FI now owns 52,233 shares of the company’s stock valued at $2,111,000 after buying an additional 432 shares during the last quarter. 97.93% of the stock is owned by institutional investors.
Seattle Genetics Inc. (NASDAQ:SGEN) traded up 1.35% on Friday, hitting $54.01. The stock had a trading volume of 786,242 shares. The company’s market cap is $7.59 billion. The stock has a 50 day moving average price of $49.82 and a 200 day moving average price of $41.98. Seattle Genetics Inc. has a 1-year low of $26.02 and a 1-year high of $57.23.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, July 26th. The company reported ($0.23) earnings per share for the quarter, topping the consensus estimate of ($0.32) by $0.09. The company had revenue of $95.40 million for the quarter, compared to the consensus estimate of $94.56 million. Seattle Genetics had a negative return on equity of 15.29% and a negative net margin of 27.21%. The firm’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.38) EPS. On average, equities research analysts expect that Seattle Genetics Inc. will post ($1.00) EPS for the current fiscal year.
Several brokerages have recently weighed in on SGEN. Leerink Swann reissued a “buy” rating and issued a $62.00 price target on shares of Seattle Genetics in a research note on Friday, September 16th. Goldman Sachs Group Inc. cut Seattle Genetics from a “neutral” rating to a “sell” rating in a research note on Friday, September 16th. Morgan Stanley started coverage on Seattle Genetics in a research note on Wednesday, September 7th. They issued an “overweight” rating and a $60.00 price target for the company. RBC Capital Markets reaffirmed an “outperform” rating on shares of Seattle Genetics in a research note on Wednesday, July 27th. Finally, Barclays PLC raised their target price on Seattle Genetics from $48.00 to $53.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 27th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $49.92.
In related news, CMO Jonathan G. Drachman sold 2,249 shares of the company’s stock in a transaction that occurred on Thursday, September 22nd. The stock was sold at an average price of $56.75, for a total value of $127,630.75. Following the sale, the chief marketing officer now owns 115,504 shares in the company, valued at approximately $6,554,852. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Vaughn B. Himes sold 3,991 shares of the company’s stock in a transaction that occurred on Monday, August 22nd. The stock was sold at an average price of $46.59, for a total value of $185,940.69. The disclosure for this sale can be found here. 33.30% of the stock is owned by corporate insiders.
Seattle Genetics Company Profile
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC), comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE).
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