Spark Investment Management LLC cut its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 41.1% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 108,000 shares of the biotechnology company’s stock after selling 75,500 shares during the period. Spark Investment Management LLC’s holdings in Seattle Genetics were worth $5,778,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. Capital Bank & Trust Co raised its stake in Seattle Genetics by 43.7% in the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock valued at $45,406,000 after buying an additional 253,753 shares in the last quarter. Creative Planning raised its stake in Seattle Genetics by 22.5% in the fourth quarter. Creative Planning now owns 42,417 shares of the biotechnology company’s stock valued at $2,269,000 after buying an additional 7,797 shares in the last quarter. South Dakota Investment Council increased its position in shares of Seattle Genetics by 46.8% during the third quarter. South Dakota Investment Council now owns 49,900 shares of the biotechnology company’s stock worth $2,715,000 after purchasing an additional 15,900 shares in the last quarter. Campbell & CO Investment Adviser LLC acquired a new stake in shares of Seattle Genetics during the third quarter worth about $291,000. Finally, Partners Capital Investment Group Holdings LLC acquired a new stake in shares of Seattle Genetics during the third quarter worth about $683,000. Institutional investors own 90.99% of the company’s stock.
In related news, insider Vaughn B. Himes sold 10,000 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $59.97, for a total transaction of $599,700.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Clay B. Siegall sold 18,832 shares of the firm’s stock in a transaction dated Friday, February 9th. The stock was sold at an average price of $49.75, for a total value of $936,892.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 70,225 shares of company stock worth $3,772,766. Corporate insiders own 34.70% of the company’s stock.
Seattle Genetics, Inc. (NASDAQ SGEN) opened at $55.35 on Monday. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $71.32. The stock has a market capitalization of $8,742.61, a PE ratio of -62.90 and a beta of 2.08.
Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The firm had revenue of $129.61 million for the quarter, compared to analyst estimates of $123.99 million. During the same quarter last year, the company posted ($0.39) earnings per share. The business’s revenue was up 23.1% on a year-over-year basis. analysts anticipate that Seattle Genetics, Inc. will post -1.59 earnings per share for the current fiscal year.
ILLEGAL ACTIVITY NOTICE: This piece of content was reported by Ticker Report and is the sole property of of Ticker Report. If you are viewing this piece of content on another site, it was copied illegally and reposted in violation of United States and international copyright law. The correct version of this piece of content can be read at https://www.tickerreport.com/banking-finance/3223776/spark-investment-management-llc-has-5-78-million-holdings-in-seattle-genetics-inc-sgen.html.
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).
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.