Dimensional Fund Advisors LP reduced its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 5.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 222,333 shares of the biotechnology company’s stock after selling 12,671 shares during the quarter. Dimensional Fund Advisors LP owned 0.14% of Seattle Genetics worth $12,596,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Valeo Financial Advisors LLC bought a new stake in shares of Seattle Genetics during the fourth quarter worth $57,000. Financial Architects Inc grew its holdings in shares of Seattle Genetics by 60.2% during the fourth quarter. Financial Architects Inc now owns 1,331 shares of the biotechnology company’s stock worth $75,000 after purchasing an additional 500 shares during the last quarter. Advisor Group Inc. grew its holdings in shares of Seattle Genetics by 20.8% during the fourth quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock worth $77,000 after purchasing an additional 232 shares during the last quarter. Paradigm Asset Management Co. LLC bought a new stake in shares of Seattle Genetics during the third quarter worth $108,000. Finally, Glenmede Trust Co. NA grew its holdings in shares of Seattle Genetics by 500.0% during the third quarter. Glenmede Trust Co. NA now owns 2,400 shares of the biotechnology company’s stock worth $185,000 after purchasing an additional 2,000 shares during the last quarter.
Seattle Genetics stock opened at $69.18 on Friday. The stock has a market capitalization of $11.13 billion, a P/E ratio of -41.93 and a beta of 2.30. Seattle Genetics, Inc. has a 12-month low of $47.75 and a 12-month high of $84.37.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.36). The firm had revenue of $174.50 million during the quarter, compared to the consensus estimate of $164.03 million. Seattle Genetics had a negative net margin of 34.01% and a negative return on equity of 19.33%. Seattle Genetics’s revenue was up 34.6% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.41) EPS. On average, equities analysts forecast that Seattle Genetics, Inc. will post -1.01 EPS for the current year.
In related news, insider Clay B. Siegall sold 20,148 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $79.22, for a total value of $1,596,124.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Todd E. Simpson sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 95,944 shares of company stock worth $6,945,020. 33.80% of the stock is owned by company insiders.
Several analysts have recently commented on SGEN shares. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Wednesday, January 30th. TheStreet upgraded Seattle Genetics from a “d+” rating to a “c” rating in a report on Friday, February 1st. BidaskClub cut Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Thursday. Royal Bank of Canada increased their target price on Seattle Genetics from $89.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, April 5th. Finally, Piper Jaffray Companies reiterated a “hold” rating on shares of Seattle Genetics in a report on Thursday, March 28th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the company’s stock. Seattle Genetics has a consensus rating of “Buy” and an average price target of $81.58.
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Seattle Genetics 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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