Seattle Genetics (SGEN) : National Planning Corp reduced its stake in Seattle Genetics by 3.63% during the most recent quarter end. The investment management company now holds a total of 116,845 shares of Seattle Genetics which is valued at $5,457,830 after selling 4,400 shares in Seattle Genetics , the firm said in a disclosure report filed with the SEC on Aug 9, 2016.Seattle Genetics makes up approximately 0.42% of National Planning Corp’s portfolio.
Other Hedge Funds, Including , Teacher Retirement System Of Texas boosted its stake in SGEN in the latest quarter, The investment management firm added 1,083 additional shares and now holds a total of 14,727 shares of Seattle Genetics which is valued at $687,898.Gsa Capital Partners Llp reduced its stake in SGEN by selling 15,405 shares or 73.59% in the most recent quarter. The Hedge Fund company now holds 5,529 shares of SGEN which is valued at $265,060. Seattle Genetics makes up approx 0.01% of Gsa Capital Partners Llp’s portfolio.Tocqueville Asset Management reduced its stake in SGEN by selling 1,100 shares or 4.25% in the most recent quarter. The Hedge Fund company now holds 24,800 shares of SGEN which is valued at $1,191,888. Seattle Genetics makes up approx 0.01% of Tocqueville Asset Management’s portfolio.
Seattle Genetics closed down -0.2 points or -0.44% at $45.57 with 4,77,399 shares getting traded on Wednesday. Post opening the session at $45.86, the shares hit an intraday low of $44.89 and an intraday high of $46.06 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.
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. Company shares were Reiterated by Barclays on Jul 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 53 from a previous price target of $48 .Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .Company shares were Reiterated by SunTrust on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 38 from a previous price target of $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.