Carillon Tower Advisers Inc. Takes Position in Seattle Genetics, Inc. (SGEN)
Carillon Tower Advisers Inc. bought a new stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 395,659 shares of the biotechnology company’s stock, valued at approximately $26,267,000. Carillon Tower Advisers Inc. owned approximately 0.25% of Seattle Genetics as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Comerica Bank lifted its stake in shares of Seattle Genetics by 31.7% during the 1st quarter. Comerica Bank now owns 4,968 shares of the biotechnology company’s stock valued at $246,000 after buying an additional 1,195 shares in the last quarter. JPMorgan Chase & Co. lifted its stake in Seattle Genetics by 225.7% in the 1st quarter. JPMorgan Chase & Co. now owns 55,938 shares of the biotechnology company’s stock worth $2,927,000 after purchasing an additional 100,446 shares in the last quarter. Schwab Charles Investment Management Inc. lifted its stake in Seattle Genetics by 11.3% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 359,517 shares of the biotechnology company’s stock worth $18,818,000 after purchasing an additional 36,466 shares in the last quarter. Frontier Capital Management Co. LLC purchased a new stake in Seattle Genetics in the 2nd quarter worth $3,934,000. Finally, State of Alaska Department of Revenue lifted its stake in Seattle Genetics by 32.2% in the 2nd quarter. State of Alaska Department of Revenue now owns 12,840 shares of the biotechnology company’s stock worth $852,000 after purchasing an additional 3,130 shares in the last quarter.
In other news, EVP Darren S. Cline sold 12,054 shares of the business’s stock in a transaction dated Tuesday, June 12th. The shares were sold at an average price of $69.00, for a total value of $831,726.00. Following the sale, the executive vice president now directly owns 72,723 shares in the company, valued at approximately $5,017,887. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Clay B. Siegall sold 25,000 shares of the business’s stock in a transaction dated Tuesday, August 21st. The stock was sold at an average price of $74.95, for a total transaction of $1,873,750.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,949 shares of company stock worth $7,406,544. Insiders own 33.80% of the company’s stock.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, July 26th. The biotechnology company reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.34) by $0.81. Seattle Genetics had a negative net margin of 7.75% and a negative return on equity of 21.01%. The firm had revenue of $170.20 million for the quarter, compared to the consensus estimate of $141.07 million. During the same period in the previous year, the firm posted ($0.39) EPS. The business’s quarterly revenue was up 57.3% on a year-over-year basis. research analysts anticipate that Seattle Genetics, Inc. will post -1.12 earnings per share for the current year.
Several analysts have commented on the stock. Zacks Investment Research upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Thursday. BidaskClub upgraded shares of Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Wednesday, August 15th. Barclays reiterated a “buy” rating and issued a $80.00 price target on shares of Seattle Genetics in a research note on Friday, July 27th. SunTrust Banks set a $81.00 price target on shares of Seattle Genetics and gave the stock a “buy” rating in a research note on Friday, July 27th. Finally, ValuEngine upgraded shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research note on Saturday, July 28th. Six research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. Seattle Genetics presently has an average rating of “Buy” and a consensus target price of $71.64.
About Seattle Genetics
Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.
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