Teachers Advisors LLC Acquires 69,140 Shares of Seattle Genetics, Inc. (NASDAQ:SGEN)
Teachers Advisors LLC boosted its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 24.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 356,948 shares of the biotechnology company’s stock after buying an additional 69,140 shares during the period. Teachers Advisors LLC owned 0.25% of Seattle Genetics worth $22,438,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Livforsakringsbolaget Skandia Omsesidigt bought a new position in shares of Seattle Genetics during the first quarter worth about $119,000. Tradewinds Capital Management LLC raised its position in shares of Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock worth $147,000 after buying an additional 52 shares during the period. Daiwa Securities Group Inc. raised its position in shares of Seattle Genetics by 562.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock worth $167,000 after buying an additional 2,250 shares during the period. Capital Fund Management S.A. acquired a new stake in Seattle Genetics during the first quarter worth $208,000. Finally, Catawba Capital Management VA acquired a new stake in Seattle Genetics during the first quarter worth $238,000. 97.91% of the stock is currently owned by institutional investors.
Shares of Seattle Genetics, Inc. (SGEN) traded down 0.57% during mid-day trading on Monday, hitting $48.88. The stock had a trading volume of 988,024 shares. Seattle Genetics, Inc. has a 1-year low of $42.58 and a 1-year high of $75.36. The firm’s market capitalization is $6.99 billion. The stock’s 50-day moving average is $55.57 and its 200-day moving average is $61.84.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.03. The company had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. Seattle Genetics’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.23) EPS. Equities analysts expect that Seattle Genetics, Inc. will post ($1.70) earnings per share for the current year.
A number of equities research analysts have weighed in on SGEN shares. Cann reiterated a “hold” rating on shares of Seattle Genetics in a research note on Thursday, April 27th. HC Wainwright lifted their price target on shares of Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d” rating in a research note on Tuesday, May 9th. Finally, ValuEngine upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $62.07.
In other Seattle Genetics news, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $54.54, for a total value of $545,400.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 10,423 shares of the stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $65.21, for a total value of $679,683.83. The disclosure for this sale can be found here. Insiders have sold a total of 40,846 shares of company stock valued at $2,406,971 over the last 90 days. 33.30% of the stock is currently owned by company 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 is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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