Vanguard Group Inc. increased its position in Seattle Genetics Inc. (NASDAQ:SGEN) by 2.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,110,502 shares of the company’s stock after buying an additional 178,403 shares during the period. Vanguard Group Inc. owned 5.06% of Seattle Genetics worth $287,335,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of the company. Brown Advisory Inc. raised its position in shares of Seattle Genetics by 0.5% in the second quarter. Brown Advisory Inc. now owns 34,276 shares of the company’s stock valued at $1,385,000 after buying an additional 156 shares during the last quarter. Prudential Financial Inc. purchased a new stake in shares of Seattle Genetics during the second quarter worth $246,000. Dimensional Fund Advisors LP raised its stake in shares of Seattle Genetics by 1.4% in the second quarter. Dimensional Fund Advisors LP now owns 211,825 shares of the company’s stock worth $8,560,000 after buying an additional 2,985 shares in the last quarter. Teacher Retirement System of Texas raised its stake in shares of Seattle Genetics by 7.9% in the second quarter. Teacher Retirement System of Texas now owns 14,727 shares of the company’s stock worth $595,000 after buying an additional 1,083 shares in the last quarter. Finally, UBS Asset Management Americas Inc. raised its stake in shares of Seattle Genetics by 3.9% in the second quarter. UBS Asset Management Americas Inc. now owns 85,148 shares of the company’s stock worth $3,441,000 after buying an additional 3,200 shares in the last quarter. Hedge funds and other institutional investors own 97.93% of the company’s stock.
Seattle Genetics Inc. (NASDAQ:SGEN) opened at 55.18 on Monday. The firm’s market capitalization is $7.75 billion. The stock has a 50 day moving average price of $51.03 and a 200-day moving average price of $42.76. Seattle Genetics Inc. has a 52 week low of $26.02 and a 52 week high of $57.23.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Tuesday, July 26th. The company reported ($0.23) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.32) by $0.09. Seattle Genetics had a negative return on equity of 15.29% and a negative net margin of 27.21%. The firm had revenue of $95.40 million for the quarter, compared to analysts’ expectations of $94.56 million. During the same period last year, the firm earned ($0.38) earnings per share. The company’s revenue for the quarter was up 23.7% compared to the same quarter last year. Analysts anticipate that Seattle Genetics Inc. will post ($1.00) EPS for the current fiscal year.
A number of equities research analysts recently weighed in on the company. Leerink Swann boosted their price objective on Seattle Genetics from $50.00 to $52.00 and gave the stock an “outperform” rating in a research report on Monday, August 1st. RBC Capital Markets restated an “outperform” rating on shares of Seattle Genetics in a research report on Wednesday, July 27th. Needham & Company LLC restated a “buy” rating and set a $72.00 price objective (up previously from $60.00) on shares of Seattle Genetics in a research report on Wednesday, June 29th. Morgan Stanley assumed coverage on Seattle Genetics in a research report on Wednesday, September 7th. They set an “overweight” rating and a $60.00 price objective on the stock. Finally, HC Wainwright restated a “buy” rating and set a $65.00 price objective on shares of Seattle Genetics in a research report on Monday, June 13th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $50.79.
In other news, EVP Vaughn B. Himes sold 3,991 shares of the stock in a transaction dated Monday, August 22nd. The shares were sold at an average price of $46.59, for a total transaction of $185,940.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CMO Jonathan G. Drachman sold 2,249 shares of the stock in a transaction dated Thursday, September 22nd. The stock was sold at an average price of $56.75, for a total transaction of $127,630.75. Following the sale, the chief marketing officer now owns 115,504 shares of the company’s stock, valued at $6,554,852. The disclosure for this sale can be found here. Insiders own 33.30% of the company’s stock.
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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