Shorts On Watch: Seattle Genetics Incorporated (NASDAQ:SGEN) Reports Increase in Sellers; Strong Momentum for Short Players

November 15, 2016 - By Louis Casey   ·   0 Comments

Shorts On Watch: Seattle Genetics Incorporated (NASDAQ:SGEN) Reports Increase in Sellers; Strong Momentum for Short Players

The stock of Seattle Genetics Incorporated (NASDAQ:SGEN) registered an increase of 4.61% in short interest. SGEN’s total short interest was 13.27M shares in November as published by FINRA. Its up 4.61% from 12.68M shares, reported previously. With 1.10 million shares average volume, it will take short sellers 12 days to cover their SGEN’s short positions. The short interest to Seattle Genetics Incorporated’s float is 13.96%. About 989,236 shares traded hands. Seattle Genetics, Inc. (NASDAQ:SGEN) has risen 85.79% since April 13, 2016 and is uptrending. It has outperformed by 81.86% the S&P500.

Seattle Genetics, Inc. is a biotechnology firm focused on the development and commercialization of therapies for the treatment of cancer. The company has a market cap of $10.52 billion. The Company’s product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate , comprising an anti-CD30 monoclonal antibody attached by a protease-cleavable linker to a microtubule disrupting agent, monomethyl auristatin E (MMAE). It currently has negative earnings. The Company’s pipeline includes other clinical-stage ADC programs, which are 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.

Insitutional Activity: The institutional sentiment increased to 0.91 in Q2 2016. Its up 0.17, from 0.74 in 2016Q1. The ratio improved, as 12 funds sold all Seattle Genetics, Inc. shares owned while 75 reduced positions. 34 funds bought stakes while 45 increased positions. They now own 136.24 million shares or 2.59% less from 139.87 million shares in 2016Q1.
Cornerstone Advsrs holds 0.01% or 300 shares in its portfolio. Cwm Limited Liability last reported 0% of its portfolio in the stock. Tocqueville Asset Mngmt Lp, a New York-based fund reported 24,800 shares. Planning Corporation has 0.44% invested in the company for 116,845 shares. Perkins Coie Trust Communication has 0% invested in the company for 100 shares. Eqis Cap Mngmt reported 38,087 shares or 0.1% of all its holdings. South Dakota Investment Council accumulated 65,800 shares or 0.06% of the stock. Van Eck Assoc has 181,517 shares for 0.04% of their US portfolio. Pdts Prtn Limited Liability Co accumulated 0.5% or 156,800 shares. The New York-based Pinnacle Assocs Limited has invested 1.03% in Seattle Genetics, Inc. (NASDAQ:SGEN). Lord Abbett And Company Ltd Liability Corporation holds 210,174 shares or 0.03% of its portfolio. Springbok Mgmt last reported 0% of its portfolio in the stock. Analytic Investors Ltd Limited Liability Company has 6,418 shares for 0% of their US portfolio. Schwab Charles Management Inc last reported 252,113 shares in the company. Soros Fund Ltd Llc holds 0.01% or 14,700 shares in its portfolio.

Insider Transactions: Since May 17, 2016, the stock had 4 insider buys, and 24 sales for $110.15 million net activity. Another trade for 414,016 shares valued at $20.05 million was made by BAKER FELIX on Tuesday, September 6. Another trade for 1,774 shares valued at $82,652 was sold by Cline Darren S. $529,007 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) was sold by SIEGALL CLAY B. Another trade for 1,000 shares valued at $57,749 was sold by LIPPMAN MARC E. Shares for $604,272 were sold by DOBMEIER ERIC. Another trade for 3,418 shares valued at $176,847 was sold by DRACHMAN JONATHAN G. $185,943 worth of Seattle Genetics, Inc. (NASDAQ:SGEN) shares were sold by HIMES VAUGHN B.

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

Out of 8 analysts covering Seattle Genetics (NASDAQ:SGEN), 5 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 63% are positive. Seattle Genetics has been the topic of 14 analyst reports since July 31, 2015 according to StockzIntelligence Inc. The firm has “Overweight” rating by Barclays Capital given on Thursday, February 4. The rating was maintained by RBC Capital Markets with “Outperform” on Monday, September 14. The stock has “Hold” rating given by Cantor Fitzgerald on Wednesday, July 27. The firm has “Neutral” rating by Piper Jaffray given on Friday, October 30. The firm has “Outperform” rating by RBC Capital Markets given on Friday, July 31. The stock of Seattle Genetics, Inc. (NASDAQ:SGEN) earned “Outperform” rating by RBC Capital Markets on Monday, October 10. The firm has “Overweight” rating by Barclays Capital given on Wednesday, July 27. The company was maintained on Tuesday, August 25 by William Blair. Goldman Sachs initiated Seattle Genetics, Inc. (NASDAQ:SGEN) on Wednesday, November 18 with “Sell” rating. The rating was initiated by Morgan Stanley on Wednesday, September 7 with “Overweight”.

SGEN Company Profile

Seattle Genetics, Inc., incorporated on July 15, 1997, is a biotechnology firm 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). In addition to ADCETRIS, the Company’s pipeline includes other clinical-stage ADC programs, which are 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. It also has multiple preclinical and research-stage programs that employ its technologies.

More news for Seattle Genetics, Inc. (NASDAQ:SGEN) were recently published by: Fool.com, which released: “5 Years After Adcetris Approval, Seattle Genetics, Inc. Still Focused on Pipeline” on October 31, 2016. Businesswire.com‘s article titled: “Seattle Genetics and Takeda Complete Enrollment of Phase 3 ECHELON-2 Clinical …” and published on November 08, 2016 is yet another important article.

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By Louis Casey


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