What’s Seattle Genetics Inc (NASDAQ:SGEN) Upside After This Short Interest Decrease?

July 12, 2018 - By Robert Crowder

Seattle Genetics, Inc. (NASDAQ:SGEN) Logo

Investors sentiment increased to 1.61 in Q1 2018. Its up 0.38, from 1.23 in 2017Q4. It is positive, as 24 investors sold Seattle Genetics, Inc. shares while 53 reduced holdings. 31 funds opened positions while 93 raised stakes. 159.52 million shares or 12.47% more from 141.83 million shares in 2017Q4 were reported.
Moreover, Envestnet Asset Management has 0% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 5,314 shares. 5,280 were accumulated by Peak6 Invests L P. Wasatch Incorporated has invested 0.66% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Amp Investors Ltd holds 0.01% or 32,933 shares. Macquarie has 0.01% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 80,700 shares. Tributary Ltd Liability Company stated it has 0.11% in Seattle Genetics, Inc. (NASDAQ:SGEN). Zurcher Kantonalbank (Zurich Cantonalbank) reported 23,953 shares. Creative Planning owns 35,862 shares or 0.01% of their US portfolio. Morgan Stanley has 159,276 shares for 0% of their portfolio. Moreover, Eventide Asset Limited Liability Corp has 1.36% invested in Seattle Genetics, Inc. (NASDAQ:SGEN) for 557,000 shares. Royal Bankshares Of Canada holds 0.01% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN) for 228,463 shares. Renaissance Tech Llc reported 0.01% of its portfolio in Seattle Genetics, Inc. (NASDAQ:SGEN). Iguana Healthcare Mgmt Llc invested in 0.6% or 17,500 shares. Berson & Corrado Limited Co holds 0.64% or 20,543 shares. Barclays Public Limited Liability Company owns 33,675 shares or 0% of their US portfolio.

Since February 1, 2018, it had 3 insider purchases, and 11 sales for $267.92 million activity. $51.26M worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were bought by BAKER BROS. ADVISORS LP. 5,000 shares were sold by HIMES VAUGHN B, worth $292,365. SIEGALL CLAY B also sold $951,393 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) on Monday, April 9. The insider DRACHMAN JONATHAN G sold $552,452.

The stock of Seattle Genetics Inc (NASDAQ:SGEN) registered a decrease of 3.6% in short interest. SGEN’s total short interest was 14.44 million shares in July as published by FINRA. Its down 3.6% from 14.98 million shares, reported previously. With 1.02M shares average volume, it will take short sellers 14 days to cover their SGEN’s short positions. The short interest to Seattle Genetics Inc’s float is 14.94%.

The stock increased 0.86% or $0.595 during the last trading session, reaching $70.035. About 148,275 shares traded. Seattle Genetics, Inc. (NASDAQ:SGEN) has declined 15.50% since July 12, 2017 and is downtrending. It has underperformed by 28.07% the S&P500.

Seattle Genetics, Inc., a biotechnology company, develops and commercializes targeted therapies to treat cancer worldwide. The company has market cap of $11.08 billion. It markets ADCETRIS, an antibody-drug conjugate for relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma. It currently has negative earnings. The firm also develops SGN-CD33A that is in Phase III clinical trial to evaluate SGN-CD33A in combination with hypomethylating agents in previously untreated older patients, as well as in Phase 1/2 clinical trial for patients with relapsed or refractory acute myeloid leukemia ; ASG-22ME, which is in Phase I clinical trial for Nectin-4-positive solid tumors, including bladder cancer; SGN-LIV1A that is in Phase 1 clinical trial for patients with LIV-1-positive metastatic breast cancer; and SGN-CD19A, which is in Phase II clinical trial for patients with relapsed DLBCL, as well as in Phase II trial for patients with newly diagnosed DLBCL.

Seattle Genetics, Inc. (NASDAQ:SGEN) Ratings Coverage

Among 8 analysts covering Seattle Genetics (NASDAQ:SGEN), 7 have Buy rating, 0 Sell and 1 Hold. Therefore 88% are positive. Seattle Genetics had 12 analyst reports since January 31, 2018 according to SRatingsIntel. H.C. Wainwright maintained Seattle Genetics, Inc. (NASDAQ:SGEN) rating on Wednesday, February 7. H.C. Wainwright has “Buy” rating and $77.0 target. The firm has “Neutral” rating given on Wednesday, February 7 by Bank of America. The firm has “Overweight” rating by Morgan Stanley given on Wednesday, March 21. The company was maintained on Wednesday, February 7 by SunTrust. The stock has “Buy” rating by H.C. Wainwright on Friday, April 27. The company was maintained on Wednesday, January 31 by RBC Capital Markets. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) has “Buy” rating given on Thursday, February 1 by H.C. Wainwright. On Tuesday, March 20 the stock rating was maintained by RBC Capital Markets with “Buy”. On Monday, June 11 the stock rating was upgraded by SunTrust to “Buy”. The rating was upgraded by JP Morgan on Wednesday, February 14 to “Overweight”.

More notable recent Seattle Genetics, Inc. (NASDAQ:SGEN) news were published by: Streetinsider.com which released: “Seattle Genetics (SGEN), Astellas Announce Progress in Enfortumab Vedotin Urothelial Cancer Clinical Development …” on July 09, 2018, also Nasdaq.com with their article: “HuMax®-AXL-ADC Progress Triggers Milestone Payment to Seattle Genetics” published on June 29, 2018, Seekingalpha.com published: “Mid-stage study underway for Seattle Genetics’ tisotumab vedotin in solid tumors; shares up 1% premarket” on July 12, 2018. More interesting news about Seattle Genetics, Inc. (NASDAQ:SGEN) were released by: Seekingalpha.com and their article: “Don’t Sell Axon Enterprise – Cramer’s Lightning Round (7/11/18)” published on July 12, 2018 as well as Marketwatch.com‘s news article titled: “Bull ‘trend’ strengthens: S&P 500, Nasdaq reclaim the breakdown point” with publication date: July 09, 2018.

Seattle Genetics, Inc. (NASDAQ:SGEN) Institutional Positions Chart

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