Seattle Genetics, Inc. (SGEN) Position Lifted by Candriam Luxembourg S.C.A.
Candriam Luxembourg S.C.A. raised its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 17.7% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 137,200 shares of the biotechnology company’s stock after purchasing an additional 20,600 shares during the period. Candriam Luxembourg S.C.A. owned approximately 0.09% of Seattle Genetics worth $10,581,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Toronto Dominion Bank lifted its stake in Seattle Genetics by 27.3% in the 3rd quarter. Toronto Dominion Bank now owns 26,753 shares of the biotechnology company’s stock valued at $2,063,000 after purchasing an additional 5,734 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. increased its position in Seattle Genetics by 1.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 327,952 shares of the biotechnology company’s stock valued at $25,292,000 after acquiring an additional 3,580 shares during the period. Parametrica Management Ltd acquired a new position in Seattle Genetics in the 3rd quarter valued at approximately $316,000. Achmea Investment Management B.V. acquired a new position in Seattle Genetics in the 3rd quarter valued at approximately $527,000. Finally, Dupont Capital Management Corp acquired a new position in Seattle Genetics in the 3rd quarter valued at approximately $501,000.
Shares of SGEN traded down $2.05 during trading hours on Friday, hitting $59.99. 624,246 shares of the stock were exchanged, compared to its average volume of 1,242,605. Seattle Genetics, Inc. has a fifty-two week low of $47.75 and a fifty-two week high of $84.37. The stock has a market cap of $9.94 billion, a PE ratio of -68.17 and a beta of 2.20.
Several equities analysts have issued reports on the stock. Barclays upped their price target on shares of Seattle Genetics from $80.00 to $95.00 and gave the company an “overweight” rating in a research report on Wednesday, October 3rd. Royal Bank of Canada upped their price target on shares of Seattle Genetics to $98.00 and gave the company an “outperform” rating in a research report on Tuesday, October 2nd. restated a “hold” rating on shares of Seattle Genetics in a research report on Monday, October 1st. JPMorgan Chase & Co. restated a “buy” rating and issued a $85.00 price target on shares of Seattle Genetics in a research report on Wednesday, September 26th. Finally, Leerink Swann assumed coverage on shares of Seattle Genetics in a research report on Monday, September 24th. They issued an “outperform” rating and a $101.00 price target for the company. One analyst has rated the stock with a sell rating, six have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Buy” and an average price target of $77.77.
In other Seattle Genetics news, CEO Clay B. Siegall sold 20,148 shares of the firm’s stock in a transaction on Monday, October 8th. The shares were sold at an average price of $77.39, for a total value of $1,559,253.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Vaughn B. Himes sold 5,000 shares of the firm’s stock in a transaction on Friday, November 30th. The stock was sold at an average price of $62.14, for a total transaction of $310,700.00. The disclosure for this sale can be found here. Insiders sold 76,611 shares of company stock valued at $5,334,380 over the last 90 days. Corporate insiders own 33.80% of the company’s stock.
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Seattle Genetics Profile
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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