Virtu Financial LLC Buys New Position in Seattle Genetics, Inc. (SGEN)
Virtu Financial LLC bought a new stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 3,736 shares of the biotechnology company’s stock, valued at approximately $203,000.
A number of other large investors have also added to or reduced their stakes in SGEN. Quantbot Technologies LP grew its stake in 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. Bristlecone Advisors LLC purchased a new position in Seattle Genetics during the 3rd quarter valued at about $180,000. DRW Securities LLC purchased a new position in Seattle Genetics during the 2nd quarter valued at about $207,000. Caisse DE Depot ET Placement DU Quebec purchased a new position in Seattle Genetics during the 3rd quarter valued at about $208,000. Finally, Andra AP fonden purchased a new position in Seattle Genetics during the 2nd quarter valued at about $212,000. 98.94% of the stock is currently owned by institutional investors.
In related news, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction that occurred on Monday, December 11th. The stock was sold at an average price of $55.40, for a total value of $1,043,292.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Todd E. Simpson sold 39,385 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 157,210 shares of company stock valued at $9,273,250. Corporate insiders own 34.70% of the company’s stock.
Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at $55.71 on Thursday. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $71.32.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The business had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The firm’s revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.23) EPS. research analysts forecast that Seattle Genetics, Inc. will post -0.93 EPS for the current year.
Several equities analysts have weighed in on SGEN shares. Cantor Fitzgerald set a $46.00 target price on Seattle Genetics and gave the company a “hold” rating in a research note on Wednesday, August 16th. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Tuesday, August 29th. ValuEngine raised Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Friday, September 1st. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a research note on Friday, September 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a research note on Thursday, September 14th. One equities research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of “Hold” and an average price target of $63.76.
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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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