Seattle Genetics, Inc. (NASDAQ:SGEN) Position Lifted by Profund Advisors LLC

Profund Advisors LLC lifted its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 56.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 40,712 shares of the biotechnology company’s stock after buying an additional 14,676 shares during the quarter. Profund Advisors LLC’s holdings in Seattle Genetics were worth $4,652,000 as of its most recent filing with the SEC.

Several other institutional investors have also bought and sold shares of SGEN. Amundi Pioneer Asset Management Inc. lifted its position in shares of Seattle Genetics by 11.2% in the 1st quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock worth $14,072,000 after buying an additional 19,394 shares during the last quarter. Redpoint Investment Management Pty Ltd bought a new position in shares of Seattle Genetics in the 3rd quarter worth about $212,000. State Street Corp lifted its position in shares of Seattle Genetics by 3.9% in the 3rd quarter. State Street Corp now owns 3,292,202 shares of the biotechnology company’s stock worth $281,154,000 after buying an additional 123,424 shares during the last quarter. Neo Ivy Capital Management bought a new position in shares of Seattle Genetics in the 3rd quarter worth about $149,000. Finally, Pictet Asset Management Ltd. lifted its position in shares of Seattle Genetics by 20.5% in the 3rd quarter. Pictet Asset Management Ltd. now owns 667,826 shares of the biotechnology company’s stock worth $57,032,000 after buying an additional 113,663 shares during the last quarter. Institutional investors own 94.63% of the company’s stock.

In other Seattle Genetics news, CEO Clay B. Siegall sold 28,472 shares of the firm’s stock in a transaction dated Monday, March 9th. The shares were sold at an average price of $110.09, for a total value of $3,134,482.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Roger D. Dansey sold 350 shares of the firm’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.33, for a total transaction of $40,715.50. The disclosure for this sale can be found here. Over the last quarter, insiders sold 93,766 shares of company stock valued at $10,527,157. Corporate insiders own 33.80% of the company’s stock.

SGEN has been the topic of a number of recent research reports. ValuEngine downgraded shares of Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. William Blair reaffirmed an “outperform” rating on shares of Seattle Genetics in a report on Tuesday, March 3rd. Piper Jaffray Companies increased their price objective on shares of Seattle Genetics from $120.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, December 20th. Morgan Stanley dropped their price objective on shares of Seattle Genetics from $123.00 to $115.00 and set an “equal weight” rating on the stock in a report on Friday, January 17th. Finally, Guggenheim cut shares of Seattle Genetics from a “buy” rating to a “neutral” rating in a report on Thursday, January 2nd. Ten investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $119.33.

Shares of SGEN traded up $10.68 during mid-day trading on Thursday, hitting $116.14. The company’s stock had a trading volume of 1,326,499 shares, compared to its average volume of 1,185,469. The firm has a 50-day moving average price of $111.06 and a 200 day moving average price of $104.34. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of -118.51 and a beta of 1.72. Seattle Genetics, Inc. has a fifty-two week low of $62.90 and a fifty-two week high of $124.32.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, February 6th. The biotechnology company reported $0.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.60. Seattle Genetics had a negative net margin of 17.31% and a negative return on equity of 13.99%. The company had revenue of $289.80 million for the quarter, compared to analysts’ expectations of $219.21 million. During the same quarter in the previous year, the company posted ($0.75) EPS. The business’s revenue was up 66.1% compared to the same quarter last year. Equities research analysts forecast that Seattle Genetics, Inc. will post -2.95 EPS for the current fiscal year.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

Featured Article: What is the Difference Between Common Shares and Convertible Shares?

Want to see what other hedge funds are holding SGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seattle Genetics, Inc. (NASDAQ:SGEN).

Institutional Ownership by Quarter for Seattle Genetics (NASDAQ:SGEN)

Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.