Laurion Capital Management LP Invests $287,000 in Seattle Genetics, Inc. (SGEN) Stock
Laurion Capital Management LP purchased a new stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 5,550 shares of the biotechnology company’s stock, valued at approximately $287,000.
A number of other large investors have also bought and sold shares of the business. First Manhattan Co. lifted its position in shares of Seattle Genetics by 31.3% in the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock valued at $162,000 after acquiring an additional 750 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in shares of Seattle Genetics by 1,580.9% in the second quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after acquiring an additional 3,715 shares during the period. Andra AP fonden purchased a new stake in shares of Seattle Genetics during the second quarter worth about $212,000. Miles Capital Inc. purchased a new stake in shares of Seattle Genetics during the first quarter worth about $226,000. Finally, Princeton Portfolio Strategies Group LLC purchased a new stake in shares of Seattle Genetics during the first quarter worth about $233,000. 97.63% of the stock is currently owned by institutional investors and hedge funds.
In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction dated Monday, September 11th. The shares were sold at an average price of $53.49, for a total value of $1,007,323.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Vaughn B. Himes sold 6,377 shares of the stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $47.89, for a total transaction of $305,394.53. The disclosure for this sale can be found here. Insiders have sold 175,352 shares of company stock worth $8,884,096 over the last 90 days. 34.70% of the stock is currently owned by company insiders.
Seattle Genetics, Inc. (NASDAQ SGEN) opened at 58.72 on Tuesday. The company’s market cap is $8.40 billion. The company has a 50 day moving average of $51.10 and a 200-day moving average of $57.92. Seattle Genetics, Inc. has a one year low of $45.31 and a one year high of $75.36.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. The business had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.23) earnings per share. On average, equities analysts expect that Seattle Genetics, Inc. will post ($1.68) earnings per share for the current fiscal year.
Several analysts recently issued reports on the company. Cowen and Company set a $61.00 target price on Seattle Genetics and gave the company a “hold” rating in a research note on Tuesday, June 6th. J P Morgan Chase & Co reissued a “hold” rating and issued a $58.00 price target on shares of Seattle Genetics in a report on Tuesday, June 13th. Oppenheimer Holdings, Inc. restated a “hold” rating on shares of Seattle Genetics in a research note on Thursday, June 15th. Cann restated a “hold” rating on shares of Seattle Genetics in a research note on Monday, June 19th. Finally, Cantor Fitzgerald set a $43.00 price objective on shares of Seattle Genetics and gave the company a “hold” rating in a report on Monday, June 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $61.77.
About Seattle Genetics
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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