Ladenburg Thalmann Financial Services Inc. lifted its stake in Seattle Genetics, Inc. (NASDAQ:SGEN) by 32.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,291 shares of the biotechnology company’s stock after acquiring an additional 2,543 shares during the period. Ladenburg Thalmann Financial Services Inc.’s holdings in Seattle Genetics were worth $710,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of SGEN. CSat Investment Advisory L.P. bought a new position in shares of Seattle Genetics in the second quarter worth $27,000. BSW Wealth Partners bought a new position in shares of Seattle Genetics in the second quarter worth $29,000. Glen Harbor Capital Management LLC bought a new position in shares of Seattle Genetics in the second quarter worth $44,000. Tyers Asset Management LLC bought a new position in shares of Seattle Genetics in the second quarter worth $61,000. Finally, Resources Investment Advisors LLC. boosted its holdings in shares of Seattle Genetics by 310.0% in the second quarter. Resources Investment Advisors LLC. now owns 1,025 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 775 shares during the period. 98.86% of the stock is owned by hedge funds and other institutional investors.
In other Seattle Genetics news, insider Vaughn B. Himes sold 6,836 shares of the firm’s stock in a transaction dated Wednesday, August 28th. The stock was sold at an average price of $73.21, for a total transaction of $500,463.56. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Clay B. Siegall sold 9,693 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $70.80, for a total value of $686,264.40. The disclosure for this sale can be found here. Insiders have sold 197,859 shares of company stock worth $15,109,342 in the last 90 days. Company insiders own 33.80% of the company’s stock.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Tuesday, July 16th. The biotechnology company reported ($0.49) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.39) by ($0.10). The business had revenue of $218.45 million for the quarter, compared to the consensus estimate of $189.76 million. Seattle Genetics had a negative net margin of 36.94% and a negative return on equity of 17.16%. Seattle Genetics’s quarterly revenue was up 28.4% on a year-over-year basis. During the same period in the prior year, the business posted $0.47 EPS. Equities research analysts anticipate that Seattle Genetics, Inc. will post -1.34 EPS for the current year.
A number of equities analysts have recently commented on SGEN shares. ValuEngine lowered Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Wednesday, October 2nd. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Seattle Genetics in a report on Friday, September 27th. Goldman Sachs Group raised Seattle Genetics from a “neutral” rating to a “buy” rating and raised their price target for the stock from $78.00 to $100.00 in a report on Friday, September 27th. Bank of America set a $58.00 price objective on Seattle Genetics and gave the company a “sell” rating in a research note on Friday, September 27th. Finally, BidaskClub raised Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and thirteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $86.79.
Seattle Genetics Company Profile
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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