Kazazian Asset Management LLC Invests $354,000 in Seattle Genetics, Inc. (SGEN)
Kazazian Asset Management LLC bought a new stake in Seattle Genetics, Inc. (NASDAQ:SGEN) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 6,848 shares of the biotechnology company’s stock, valued at approximately $354,000.
Several other institutional investors have also recently bought and sold shares of the company. First Manhattan Co. increased its stake in shares of Seattle Genetics by 31.3% during the second quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after purchasing an additional 750 shares during the period. Miles Capital Inc. acquired a new stake in Seattle Genetics during the 1st quarter worth approximately $226,000. Oppenheimer Asset Management Inc. acquired a new stake in Seattle Genetics during the 1st quarter worth approximately $240,000. Meeder Asset Management Inc. lifted its holdings in Seattle Genetics by 1,580.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 3,715 shares during the last quarter. Finally, Andra AP fonden acquired a new stake in Seattle Genetics during the 2nd quarter worth approximately $212,000. 97.63% of the stock is currently owned by institutional investors.
Seattle Genetics, Inc. (SGEN) traded down 0.10% during mid-day trading on Wednesday, hitting $57.88. 284,845 shares of the company traded hands. The firm has a 50 day moving average of $51.44 and a 200 day moving average of $57.86. Seattle Genetics, Inc. has a one year low of $45.31 and a one year high of $75.36. The firm’s market capitalization is $8.28 billion.
Seattle Genetics (NASDAQ:SGEN) last posted its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The business had revenue of $108.20 million during the quarter, compared to analyst estimates of $105.92 million. During the same quarter in the previous year, the firm earned ($0.23) EPS. The company’s quarterly revenue was up 13.4% compared to the same quarter last year. Equities research analysts expect that Seattle Genetics, Inc. will post ($1.68) earnings per share for the current fiscal year.
In related news, insider Vaughn B. Himes sold 6,377 shares of the company’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $47.89, for a total transaction of $305,394.53. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 10,413 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $48.91, for a total transaction of $509,299.83. The disclosure for this sale can be found here. Over the last three months, insiders sold 164,929 shares of company stock worth $8,342,308. Insiders own 34.70% of the company’s stock.
Several research firms recently issued reports on SGEN. Cantor Fitzgerald set a $46.00 price target on Seattle Genetics and gave the company a “hold” rating in a research note on Monday. Royal Bank Of Canada assumed coverage on Seattle Genetics in a research report on Thursday, September 14th. They set an “outperform” rating and a $58.00 price objective on the stock. Jefferies Group LLC reissued a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a report on Thursday, September 14th. Oppenheimer Holdings, Inc. reissued a “hold” rating on shares of Seattle Genetics in a report on Friday, September 8th. Finally, Cann reissued a “hold” rating on shares of Seattle Genetics in a report on Friday, September 8th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $61.77.
Seattle Genetics Profile
Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).
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