Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 3.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,553 shares of the biotechnology company’s stock after buying an additional 848 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seattle Genetics were worth $1,418,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. raised its position in Seattle Genetics by 124.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 188,705 shares of the biotechnology company’s stock worth $9,959,000 after buying an additional 104,557 shares during the period. Hanseatic Management Services Inc. purchased a new position in Seattle Genetics during the third quarter worth approximately $2,007,000. Tocqueville Asset Management L.P. raised its position in Seattle Genetics by 49.4% in the third quarter. Tocqueville Asset Management L.P. now owns 37,050 shares of the biotechnology company’s stock worth $2,001,000 after buying an additional 12,250 shares during the period. Opus Point Partners Management LLC raised its position in Seattle Genetics by 0.5% in the fourth quarter. Opus Point Partners Management LLC now owns 68,310 shares of the biotechnology company’s stock worth $3,605,000 after buying an additional 357 shares during the period. Finally, Renaissance Technologies LLC purchased a new position in Seattle Genetics during the fourth quarter worth approximately $13,367,000. Institutional investors own 98.43% of the company’s stock.
Seattle Genetics, Inc. (NASDAQ:SGEN) traded up 0.26% on Tuesday, hitting $66.68. 82,587 shares of the company’s stock traded hands. The stock has a 50 day moving average price of $64.56 and a 200-day moving average price of $63.58. Seattle Genetics, Inc. has a 12 month low of $35.93 and a 12 month high of $75.36. The stock’s market cap is $9.52 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, April 27th. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.01. The firm had revenue of $109.10 million for the quarter, compared to the consensus estimate of $103.23 million. Seattle Genetics had a negative net margin of 33.51% and a negative return on equity of 20.86%. The firm’s revenue was down 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.15) earnings per share. Equities analysts predict that Seattle Genetics, Inc. will post ($1.79) earnings per share for the current fiscal year.
SGEN has been the topic of a number of recent analyst reports. CIBC initiated coverage on shares of Seattle Genetics in a research note on Thursday, March 16th. They issued a “market perform” rating on the stock. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Cann initiated coverage on shares of Seattle Genetics in a research note on Wednesday, March 15th. They issued a “market perform” rating on the stock. TheStreet downgraded shares of Seattle Genetics from a “c-” rating to a “d” rating in a research note on Tuesday, May 9th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $43.00 target price on shares of Seattle Genetics in a research note on Monday, March 6th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company. Seattle Genetics has an average rating of “Hold” and a consensus target price of $59.21.
In other news, CEO Clay B. Siegall sold 14,465 shares of the stock in a transaction that occurred on Monday, March 6th. The stock was sold at an average price of $68.04, for a total transaction of $984,198.60. Following the completion of the transaction, the chief executive officer now directly owns 646,858 shares in the company, valued at approximately $44,012,218.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vaughn B. Himes sold 10,000 shares of the stock in a transaction that occurred on Friday, March 31st. The shares were sold at an average price of $62.75, for a total value of $627,500.00. Following the transaction, the insider now owns 161,283 shares of the company’s stock, valued at $10,120,508.25. The disclosure for this sale can be found here. Insiders have sold a total of 38,930 shares of company stock valued at $2,522,849 over the last quarter. Corporate insiders own 33.30% of the company’s stock.
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).
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