Seattle Genetics, Inc. (SGEN) Holdings Cut by AMP Capital Investors Ltd

AMP Capital Investors Ltd reduced its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 36.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,933 shares of the biotechnology company’s stock after selling 19,100 shares during the quarter. AMP Capital Investors Ltd’s holdings in Seattle Genetics were worth $1,762,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in SGEN. American International Group Inc. purchased a new position in shares of Seattle Genetics during the 4th quarter valued at $121,000. Quantbot Technologies LP grew its holdings in shares of Seattle Genetics by 116.5% during the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after acquiring an additional 1,428 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of Seattle Genetics during the 3rd quarter valued at $203,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in shares of Seattle Genetics during the 3rd quarter valued at $208,000. Finally, Trexquant Investment LP purchased a new position in shares of Seattle Genetics during the 3rd quarter valued at $226,000. 93.09% of the stock is currently owned by institutional investors.

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Shares of SGEN stock opened at $50.95 on Friday. Seattle Genetics, Inc. has a fifty-two week low of $45.31 and a fifty-two week high of $71.32. The stock has a market cap of $8,548.33, a PE ratio of -57.90 and a beta of 1.96.

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, beating the Zacks’ consensus estimate of ($0.43) by $0.02. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The company had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. During the same period in the prior year, the company earned ($0.39) earnings per share. The business’s quarterly revenue was up 23.1% compared to the same quarter last year. equities analysts forecast that Seattle Genetics, Inc. will post -1.53 EPS for the current fiscal year.

In other Seattle Genetics news, insider Vaughn B. Himes sold 5,000 shares of the company’s stock in a transaction dated Thursday, March 15th. The shares were sold at an average price of $58.12, for a total transaction of $290,600.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction dated Friday, March 9th. The shares were sold at an average price of $57.32, for a total transaction of $1,079,450.24. The disclosure for this sale can be found here. Insiders have sold 71,953 shares of company stock valued at $3,833,188 over the last 90 days. Corporate insiders own 34.70% of the company’s stock.

SGEN has been the topic of several research analyst reports. Needham & Company LLC restated a “buy” rating and set a $74.00 price target (up from $72.00) on shares of Seattle Genetics in a report on Wednesday, February 7th. HC Wainwright reiterated a “buy” rating on shares of Seattle Genetics in a report on Wednesday, February 7th. Royal Bank of Canada reiterated a “buy” rating and issued a $73.00 price objective on shares of Seattle Genetics in a report on Tuesday. TheStreet cut shares of Seattle Genetics from a “c-” rating to a “d+” rating in a report on Wednesday, February 28th. Finally, JPMorgan Chase & Co. reiterated a “hold” rating on shares of Seattle Genetics in a report on Tuesday, January 9th. Ten investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $64.63.

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Seattle Genetics 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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Institutional Ownership by Quarter for Seattle Genetics (NASDAQ:SGEN)

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