Seattle Genetics, Inc. (SGEN) Stake Increased by Two Sigma Advisers LP

Two Sigma Advisers LP grew its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 56.7% in the fourth quarter, HoldingsChannel.com reports. The firm owned 185,624 shares of the biotechnology company’s stock after acquiring an additional 67,200 shares during the period. Two Sigma Advisers LP’s holdings in Seattle Genetics were worth $9,931,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors lifted its stake in Seattle Genetics by 63.7% in the third quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after acquiring an additional 1,735,657 shares during the period. Goldman Sachs Group Inc. lifted its stake in Seattle Genetics by 92.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock worth $132,139,000 after acquiring an additional 1,184,491 shares during the period. Capital Guardian Trust Co. lifted its stake in Seattle Genetics by 82.2% in the third quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after acquiring an additional 480,044 shares during the period. Capital Bank & Trust Co lifted 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 worth $45,406,000 after acquiring an additional 253,753 shares during the period. Finally, BlackRock Inc. lifted its stake in Seattle Genetics by 2.9% in the fourth quarter. BlackRock Inc. now owns 7,756,494 shares of the biotechnology company’s stock worth $414,975,000 after acquiring an additional 220,955 shares during the period. 93.09% of the stock is owned by hedge funds and other institutional investors.

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In other 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 filing with the SEC, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction dated Thursday, January 11th. The shares were sold at an average price of $51.71, for a total transaction of $973,802.72. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,953 shares of company stock valued at $3,833,188. Insiders own 34.70% of the company’s stock.

Shares of Seattle Genetics stock opened at $50.95 on Friday. Seattle Genetics, Inc. has a 1 year low of $45.31 and a 1 year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million during the quarter, compared to analyst estimates of $123.99 million. Seattle Genetics had a negative net margin of 26.03% and a negative return on equity of 32.49%. The company’s quarterly revenue was up 23.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.39) earnings per share. equities research analysts forecast that Seattle Genetics, Inc. will post -1.57 earnings per share for the current year.

A number of analysts recently weighed in on the stock. BidaskClub raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Saturday, December 9th. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Thursday, December 7th. Royal Bank of Canada reaffirmed a “buy” rating and issued a $73.00 price objective on shares of Seattle Genetics in a research note on Tuesday, March 20th. Cantor Fitzgerald set a $50.00 price objective on shares of Seattle Genetics and gave the stock a “hold” rating in a research note on Tuesday, December 12th. Finally, SunTrust Banks reaffirmed a “hold” rating and issued a $60.00 price objective on shares of Seattle Genetics in a research note on Wednesday, February 7th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and eleven have issued a buy rating to the stock. Seattle Genetics currently has an average rating of “Hold” and a consensus target price of $64.63.

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

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