Nomura Asset Management Co. Ltd. Has $679,000 Position in Seattle Genetics, Inc. (SGEN)
Nomura Asset Management Co. Ltd. held its position in Seattle Genetics, Inc. (NASDAQ:SGEN) during the first quarter, Holdings Channel reports. The fund owned 10,800 shares of the biotechnology company’s stock at the end of the first quarter. Nomura Asset Management Co. Ltd.’s holdings in Seattle Genetics were worth $679,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. increased its position in Seattle Genetics by 6,338.2% in the first quarter. BlackRock Inc. now owns 7,267,660 shares of the biotechnology company’s stock valued at $456,845,000 after buying an additional 7,154,776 shares during the period. Norges Bank acquired a new position in Seattle Genetics during the fourth quarter valued at $57,470,000. Point72 Asset Management L.P. acquired a new position in Seattle Genetics during the first quarter valued at $29,521,000. Pictet Asset Management Ltd. increased its position in Seattle Genetics by 1,303.6% in the first quarter. Pictet Asset Management Ltd. now owns 475,824 shares of the biotechnology company’s stock valued at $29,910,000 after buying an additional 441,924 shares during the period. Finally, Janus Capital Management LLC increased its position in Seattle Genetics by 321.2% in the first quarter. Janus Capital Management LLC now owns 527,400 shares of the biotechnology company’s stock valued at $33,153,000 after buying an additional 402,200 shares during the period. Hedge funds and other institutional investors own 98.04% of the company’s stock.
Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at 53.73 on Monday. The company’s 50 day moving average price is $63.06 and its 200 day moving average price is $62.73. Seattle Genetics, Inc. has a one year low of $41.34 and a one year high of $75.36. The stock’s market capitalization is $7.67 billion.
Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, April 27th. The biotechnology company reported ($0.42) EPS for the quarter, missing analysts’ consensus estimates of ($0.41) by $0.01. Seattle Genetics had a negative net margin of 43.17% and a negative return on equity of 27.98%. The firm had revenue of $109.10 million during the quarter, compared to analysts’ expectations of $103.23 million. During the same quarter last year, the firm earned ($0.15) EPS. The business’s revenue for the quarter was down 1.9% compared to the same quarter last year. On average, equities analysts expect that Seattle Genetics, Inc. will post ($1.68) earnings per share for the current year.
Several equities analysts recently weighed in on SGEN shares. TheStreet downgraded Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Zacks Investment Research upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Tuesday, May 2nd. Leerink Swann increased their target price on Seattle Genetics from $70.00 to $74.00 and gave the stock an “outperform” rating in a research report on Friday, April 7th. HC Wainwright raised their price objective on Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a report on Friday, April 28th. Finally, Cann restated a “hold” rating on shares of Seattle Genetics in a report on Thursday, April 27th. Four research analysts have rated the stock with a sell rating, twelve have given a hold rating, six have given a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $61.00.
In other Seattle Genetics news, insider Clay B. Siegall sold 10,423 shares of the business’s stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $65.21, for a total value of $679,683.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Jonathan G. Drachman sold 10,000 shares of the business’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $64.01, for a total value of $640,100.00. Following the completion of the sale, the chief marketing officer now directly owns 125,204 shares of the company’s stock, valued at approximately $8,014,308.04. The disclosure for this sale can be found here. Insiders sold 30,846 shares of company stock valued at $1,861,571 in the last ninety days. Insiders own 33.30% of the company’s stock.
About Seattle Genetics
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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