Seattle Genetics (SGEN) : Btr Capital Management Inc added new position in Seattle Genetics during the most recent quarter end. The investment management firm now holds 4,500 shares of Seattle Genetics which is valued at $226,395 , the company said in a statement filed on Oct 14, 2016 with the SEC.Seattle Genetics makes up approximately 0.05% of Btr Capital Management Inc’s portfolio.
Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in SGEN in the latest quarter, The investment management firm added 994 additional shares and now holds a total of 1,866 shares of Seattle Genetics which is valued at $97,573.Capstone Asset Management Co reduced its stake in SGEN by selling 750 shares or 13.65% in the most recent quarter. The Hedge Fund company now holds 4,745 shares of SGEN which is valued at $265,673. Seattle Genetics makes up approx 0.01% of Capstone Asset Management Co’s portfolio. Washington Trust Bank added SGEN to its portfolio by purchasing 16 company shares during the most recent quarter which is valued at $888.
Seattle Genetics closed down -1.98 points or -3.79% at $50.31 with 10,78,619 shares getting traded on Friday. Post opening the session at $52.68, the shares hit an intraday low of $50.29 and an intraday high of $53.06 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.
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 RBC Capital Mkts on Oct 10, 2016 to “Outperform”, Firm has raised the Price Target to $ 62 from a previous price target of $55 .Seattle Genetics was Upgraded by Goldman to ” Neutral” on Sep 15, 2016. Seattle Genetics was Initiated by Morgan Stanley to “Overweight” on Sep 7, 2016.
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.