Baker Bros. Advisors Lp buys $2,026,004,612 stake in Seattle Genetics (SGEN)

Seattle Genetics (SGEN) : Baker Bros. Advisors Lp scooped up 5,941,539 additional shares in Seattle Genetics during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 43,235,267 shares of Seattle Genetics which is valued at $2,026,004,612.Seattle Genetics makes up approximately 22.62% of Baker Bros. Advisors Lp’s portfolio.

Other Hedge Funds, Including , Tanaka Capital Management Inc sold out all of its stake in SGEN during the most recent quarter. The investment firm sold 2,000 shares of SGEN which is valued $93,720. Cornerstone Capital Management Holdings. sold out all of its stake in SGEN during the most recent quarter. The investment firm sold 17,249 shares of SGEN which is valued $808,288.Msi Financial Services Inc boosted its stake in SGEN in the latest quarter, The investment management firm added 247 additional shares and now holds a total of 872 shares of Seattle Genetics which is valued at $41,839. Huntington National Bank sold out all of its stake in SGEN during the most recent quarter. The investment firm sold 132 shares of SGEN which is valued $6,333.

Seattle Genetics opened for trading at $44.72 and hit $44.97 on the upside on Thursday, eventually ending the session at $44.9, with a gain of 0.79% or 0.35 points. The heightened volatility saw the trading volume jump to 4,40,129 shares. Company has a market cap of $6,309 M.

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 Barclays on Jul 27, 2016 to “Overweight”, Firm has raised the Price Target to $ 53 from a previous price target of $48 .Company shares were Reiterated by RBC Capital Mkts on Jul 27, 2016 to “Outperform”, Firm has raised the Price Target to $ 130 from a previous price target of $125 .Company shares were Reiterated by SunTrust on Jul 27, 2016 to “Neutral”, Firm has raised the Price Target to $ 38 from a previous price target of $34 .

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.

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