Seattle Genetics (SGEN) : Ct Financial Advisors reduced its stake in Seattle Genetics by 4.07% during the most recent quarter end. The investment management company now holds a total of 26,657 shares of Seattle Genetics which is valued at $1,492,525 after selling 1,130 shares in Seattle Genetics , the firm said in a disclosure report filed with the SEC on Oct 12, 2016.Seattle Genetics makes up approximately 0.94% of Ct Financial Advisors’s portfolio.
Other Hedge Funds, Including , Nisa Investment Advisors added SGEN to its portfolio by purchasing 500 company shares during the most recent quarter which is valued at $27,995.Bnp Paribas Arbitrage Sa reduced its stake in SGEN by selling 802 shares or 5.06% in the most recent quarter. The Hedge Fund company now holds 15,043 shares of SGEN which is valued at $835,037. Washington Trust Bank added SGEN to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $888.
Seattle Genetics closed down -1.26 points or -2.20% at $55.99 with 7,35,904 shares getting traded on Tuesday. Post opening the session at $57.25, the shares hit an intraday low of $55.62 and an intraday high of $57.83 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 RBC Capital Mkts on Oct 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $55 .Seattle Genetics was Upgraded by Goldman to ” Neutral” on Sep 15, 2016. Seattle Genetics was Initiated by Morgan Stanley to “Overweight” on Sep 7, 2016.
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.