Seattle Genetics, Inc. (SGEN) Position Reduced by Principal Financial Group Inc

Judith Bessette
Agosto 13, 2017

Neuberger Berman Group LLC boosted its stake in shares of Seattle Genetics by 0.5% in the first quarter. First Manhattan has an ownership of 3,150 stocks of the biotechnology firms shares valued $162,000 after scooping up an extra 750 shares through out the quarter. PNC Financial Services Group Inc.'s holdings in Seattle Genetics were worth $262,000 as of its most recent filing with the SEC. NBT Bank N A NY bought a new position in shares of Seattle Genetics during the first quarter worth about $1,056,000. Nationwide Fund Advisors bought a new position in shares of Seattle Genetics during the first quarter valued at approximately $1,402,000. The institutional investor owned 31,693 shares of the biotechnology company's stock after buying an additional 91 shares during the period. AQR Capital Management LLC acquired a new position in Seattle Genetics during the fourth quarter worth $2,022,000.

Aperio Group LLC boosted its position in Seattle Genetics, Inc. UBS Asset Management Americas Inc. now owns 188,705 shares of the biotechnology company's stock worth $9,959,000 after buying an additional 104,557 shares during the period. (SGEN) traded up 0.26% during mid-day trading on Friday, hitting $46.32. 135.77 million shares or 1.02% less from 137.16 million shares in 2016Q3 were reported. The stock's market capitalization is 6.61B. Seattle Genetics, Inc. has a one year low of $42.58 and a one year high of $75.36. The corporation has a 50 day SMA of $52.63 and a two hundred SMA of $61.26.

Primecap Management Co/ca/ sold 223,337 shares during the last quarter decreasing its stake in Seattle Genetics, Inc. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.03. The business had revenue of $108.20 million during the quarter, compared to analyst estimates of $105.92 million. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. During the same quarter in the prior year, the firm earned ($0.23) earnings per share. Equities analysts anticipate that Seattle Genetics, Inc. will post ($1.70) earnings per share for the current fiscal year. If you are reading this story on another domain, it was illegally copied and republished in violation of United States & global trademark and copyright legislation. If you are viewing this story on another domain, it was illegally copied and reposted in violation of United States and worldwide copyright and trademark laws. The correct version of this piece of content can be viewed at https://transcriptdaily.com/2017/08/12/seattle-genetics-inc-sgen-shares-sold-by-principal-financial-group-inc-updated-updated-updated.html.

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SGEN has been the subject of a number of recent research reports. Finally, Piper Jaffray Companies reaffirmed a "neutral" rating and set a $48.00 target price on shares of Seattle Genetics in a research report on Tuesday, June 27th. Needham & Company LLC reissued a "buy" rating and set a $72.00 price objective on shares of Seattle Genetics in a report on Tuesday, June 20th. BidaskClub downgraded Seattle Genetics from a "sell" rating to a "strong sell" rating in a research report on Wednesday, August 2nd. J.P. Morgan maintained the shares of SGEN in report on Thursday, June 8 with "Hold" rating. ValuEngine cut Seattle Genetics from a "hold" rating to a "sell" rating in a research note on Friday, July 28th. Five equities research analysts have rated the stock with a sell rating, ten have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. RBC Capital Markets maintained it with "Outperform" rating and $62 target in Monday, October 10 report.

In other Seattle Genetics news, insider Clay B. Siegall sold 10,423 shares of the company's stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Darren S. Cline sold 6,000 shares of the business's stock in a transaction dated Monday, August 7th. The stock was unloaded at a price range of of $65.21, amounting $679,683.83. The disclosure for this sale can be found here. Daiwa Securities Group has an ownership of 2,650 stocks of the biotechnology firms shares valued $167,000 after scooping up an extra 2,250 shares through out the quarter.

Seattle Genetics, Inc.is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Firm is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others.

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