Nexthera Capital Lp buys $3.4 Million stake in Seattle Genetics (SGEN)

Seattle Genetics (SGEN) : Nexthera Capital Lp scooped up 13,000 additional shares in Seattle Genetics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 13, 2016. The investment management firm now holds a total of 103,000 shares of Seattle Genetics which is valued at $3.4 Million.Seattle Genetics makes up approximately 3.71% of Nexthera Capital Lp’s portfolio.

Other Hedge Funds, Including , Reynolds Capital Management sold out all of its stake in SGEN during the most recent quarter. The investment firm sold 7,200 shares of SGEN which is valued $237,240.First City Capital Management reduced its stake in SGEN by selling 100 shares or 1.83% in the most recent quarter. The Hedge Fund company now holds 5,350 shares of SGEN which is valued at $176,283. Seattle Genetics makes up approx 0.12% of First City Capital Management’s portfolio.Columbia Wanger Asset Management boosted its stake in SGEN in the latest quarter, The investment management firm added 142,795 additional shares and now holds a total of 1,763,796 shares of Seattle Genetics which is valued at $58.1 Million. Seattle Genetics makes up approx 0.62% of Columbia Wanger Asset Management’s portfolio. Bessemer Group Inc added SGEN to its portfolio by purchasing 35 company shares during the most recent quarter which is valued at $1,153.

Seattle Genetics opened for trading at $40.22 and hit $41.53 on the upside on Wednesday, eventually ending the session at $40.27, with a gain of 0.75% or 0.3 points. The heightened volatility saw the trading volume jump to 8,97,589 shares. Company has a market cap of $5,645 M.

On the company’s financial health, Seattle Genetics reported $-0.15 EPS for the quarter, missing the analyst consensus estimate by $ -0.04 based on the information available during the earnings call on Apr 28, 2016. Analyst had a consensus of $-0.11. The company had revenue of $111.15 million for the quarter, compared to analysts expectations of $115.99 million. The company’s revenue was up 35.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $-0.17 EPS.

Many Wall Street Analysts have commented on Seattle Genetics. Sun Trust Rbsn Humphrey Initiated Seattle Genetics on Mar 3, 2016 to “Neutral”, Price Target of the shares are set at $34.

Seattle Genetics Inc. is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company’s marketed product ADCETRIS or brentuximab vedotin is an antibody-drug conjugate (ADC) comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent monomethyl auristatin E (MMAE) utilizing its technology. In addition to ADCETRIS the Company’s pipeline includes six clinical-stage ADC programs consisting of SGN-CD33A SGN-CD19A SGN-LIV1A SGN-CD70A ASG-22ME and ASG-15ME and SEA-CD40 which is based on its sugar-engineered antibody (SEA) technology. In addition it has multiple preclinical and research-stage programs that employ its technologies. Its technologies include ADC technology and Seattle Genetics’ sugar-engineered antibody (SEA) technology.

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