Seattle Genetics, Inc. (SGEN) Position Trimmed by 440 Investment Group LLC
440 Investment Group LLC trimmed its holdings in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 50.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,730 shares of the biotechnology company’s stock after selling 12,750 shares during the period. 440 Investment Group LLC’s holdings in Seattle Genetics were worth $681,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in Seattle Genetics by 116.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock valued at $144,000 after buying an additional 1,428 shares during the last quarter. Bristlecone Advisors LLC bought a new position in shares of Seattle Genetics in the 3rd quarter worth $180,000. Virtu Financial LLC bought a new position in shares of Seattle Genetics in the 3rd quarter worth $203,000. DRW Securities LLC bought a new position in shares of Seattle Genetics in the 2nd quarter worth $207,000. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in shares of Seattle Genetics in the 3rd quarter worth $208,000. 98.89% of the stock is owned by hedge funds and other institutional investors.
Seattle Genetics, Inc. (NASDAQ SGEN) traded down $1.10 on Tuesday, hitting $51.26. The company’s stock had a trading volume of 349,664 shares, compared to its average volume of 857,744. Seattle Genetics, Inc. has a 1 year low of $45.31 and a 1 year high of $71.32. The firm has a market cap of $7,480.00, a P/E ratio of -58.92 and a beta of 2.37.
Seattle Genetics (NASDAQ:SGEN) last released 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. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The firm had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. During the same quarter last year, the business posted ($0.23) EPS. The company’s revenue for the quarter was up 27.3% on a year-over-year basis. equities analysts forecast that Seattle Genetics, Inc. will post -0.93 earnings per share for the current fiscal year.
Several research analysts have recently issued reports on the company. BidaskClub upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Saturday, December 9th. Oppenheimer assumed coverage on Seattle Genetics in a research report on Tuesday, October 10th. They issued a “hold” rating on the stock. Cantor Fitzgerald set a $46.00 price target on Seattle Genetics and gave the stock a “hold” rating in a research report on Tuesday, October 10th. Cann assumed coverage on Seattle Genetics in a research report on Wednesday, November 8th. They issued a “hold” rating on the stock. Finally, Bank of America upgraded Seattle Genetics from an “underperform” rating to a “neutral” rating in a research report on Friday, October 27th. One research analyst has rated the stock with a sell rating, twelve have given a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus price target of $63.76.
In other Seattle Genetics news, insider Vaughn B. Himes sold 10,000 shares of Seattle Genetics stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $59.97, for a total value of $599,700.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $58.00, for a total value of $1,092,256.00. The disclosure for this sale can be found here. Insiders sold a total of 138,378 shares of company stock worth $8,121,108 in the last three months. Company insiders own 34.70% of the company’s stock.
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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