Captrust Financial Advisors increased its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 167.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 893 shares of the biotechnology company’s stock after acquiring an additional 559 shares during the period. Captrust Financial Advisors’ holdings in Seattle Genetics were worth $51,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in SGEN. Valeo Financial Advisors LLC acquired a new stake in shares of Seattle Genetics in the 4th quarter worth about $57,000. Financial Architects Inc increased its stake in Seattle Genetics by 60.2% during the 4th quarter. Financial Architects Inc now owns 1,331 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 500 shares during the period. Advisor Group Inc. increased its stake in Seattle Genetics by 20.8% during the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 232 shares during the period. Paradigm Asset Management Co. LLC acquired a new position in Seattle Genetics during the 3rd quarter valued at about $108,000. Finally, ETF Managers Group LLC increased its stake in Seattle Genetics by 17.9% during the 4th quarter. ETF Managers Group LLC now owns 2,537 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 386 shares during the period.
Several equities analysts have commented on SGEN shares. Piper Jaffray Companies lowered their target price on shares of Seattle Genetics to $64.00 and set a “neutral” rating on the stock in a research note on Thursday, February 7th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a research note on Thursday, January 10th. BidaskClub raised shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research note on Thursday, January 31st. TheStreet raised shares of Seattle Genetics from a “d+” rating to a “c” rating in a research note on Friday, February 1st. Finally, HC Wainwright reissued a “buy” rating and set a $98.00 target price on shares of Seattle Genetics in a research note on Friday, February 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, ten have assigned a buy rating and two have assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $80.82.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.36). The business had revenue of $174.50 million during the quarter, compared to analyst estimates of $164.03 million. Seattle Genetics had a negative return on equity of 19.33% and a negative net margin of 34.01%. The business’s revenue for the quarter was up 34.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.41) EPS. Research analysts expect that Seattle Genetics, Inc. will post -0.9 earnings per share for the current fiscal year.
In other news, Director David W. Gryska sold 5,000 shares of Seattle Genetics stock in a transaction that occurred on Tuesday, January 8th. The shares were sold at an average price of $65.04, for a total value of $325,200.00. Following the transaction, the director now owns 50,050 shares of the company’s stock, valued at approximately $3,255,252. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Clay B. Siegall sold 20,148 shares of Seattle Genetics stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $69.19, for a total transaction of $1,394,040.12. The disclosure for this sale can be found here. Insiders sold a total of 83,444 shares of company stock worth $5,656,373 in the last ninety days. Corporate insiders own 33.80% of the company’s stock.
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About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.
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