Ossiam acquired a new stake in Seattle Genetics, Inc. (NASDAQ:SGEN) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,046 shares of the biotechnology company’s stock, valued at approximately $142,000.
A number of other large investors have also made changes to their positions in the business. Glen Harbor Capital Management LLC bought a new position in shares of Seattle Genetics during the 2nd quarter worth $44,000. Tyers Asset Management LLC bought a new position in shares of Seattle Genetics during the 2nd quarter worth $61,000. Resources Investment Advisors LLC. grew its stake in shares of Seattle Genetics by 310.0% during the 2nd quarter. Resources Investment Advisors LLC. now owns 1,025 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 775 shares during the period. Flinton Capital Management LLC bought a new position in shares of Seattle Genetics during the 2nd quarter worth $78,000. Finally, Twin Tree Management LP bought a new position in shares of Seattle Genetics during the 1st quarter worth $87,000. Hedge funds and other institutional investors own 99.14% of the company’s stock.
In other Seattle Genetics news, insider Vaughn B. Himes sold 6,836 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.21, for a total value of $500,463.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Jean I. Liu sold 3,716 shares of the firm’s stock in a transaction dated Tuesday, August 6th. The shares were sold at an average price of $75.00, for a total value of $278,700.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 164,519 shares of company stock worth $11,919,491. Insiders own 33.80% of the company’s stock.
Several research analysts have recently weighed in on SGEN shares. Deutsche Bank started coverage on Seattle Genetics in a research note on Thursday, July 18th. They set a “hold” rating and a $79.00 price target for the company. William Blair reiterated a “buy” rating on shares of Seattle Genetics in a research note on Friday, July 19th. BTIG Research assumed coverage on Seattle Genetics in a research note on Monday, August 26th. They set a “neutral” rating for the company. ValuEngine upgraded Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, July 17th. Finally, Oppenheimer upgraded Seattle Genetics from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $77.00 to $82.00 in a research note on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $84.17.
NASDAQ SGEN traded up $0.30 during trading hours on Friday, hitting $71.18. The company had a trading volume of 13,995 shares, compared to its average volume of 594,080. Seattle Genetics, Inc. has a 52 week low of $50.71 and a 52 week high of $84.37. The firm has a 50 day simple moving average of $74.81 and a 200 day simple moving average of $71.72. The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of -43.10 and a beta of 1.97.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Tuesday, July 16th. The biotechnology company reported ($0.49) EPS for the quarter, missing the consensus estimate of ($0.39) by ($0.10). Seattle Genetics had a negative return on equity of 17.16% and a negative net margin of 36.94%. The company had revenue of $218.45 million during the quarter, compared to the consensus estimate of $189.76 million. During the same quarter in the prior year, the business earned $0.47 EPS. The firm’s revenue for the quarter was up 28.4% compared to the same quarter last year. Sell-side analysts forecast that Seattle Genetics, Inc. will post -1.31 earnings per share for the current year.
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.
Featured Story: Trading based on a resistance level
Want to see what other hedge funds are holding SGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seattle Genetics, Inc. (NASDAQ:SGEN).
Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.