Northeast Financial Consultants Inc Purchases 2,029 Shares of Seattle Genetics, Inc. (NASDAQ:SGEN)

Northeast Financial Consultants Inc boosted its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 52.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 5,929 shares of the biotechnology company’s stock after acquiring an additional 2,029 shares during the period. Northeast Financial Consultants Inc’s holdings in Seattle Genetics were worth $1,007,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. M&T Bank Corp increased its position in shares of Seattle Genetics by 0.6% during the second quarter. M&T Bank Corp now owns 11,529 shares of the biotechnology company’s stock valued at $1,959,000 after buying an additional 71 shares during the period. IBM Retirement Fund increased its position in shares of Seattle Genetics by 3.0% in the second quarter. IBM Retirement Fund now owns 2,843 shares of the biotechnology company’s stock worth $483,000 after purchasing an additional 84 shares during the last quarter. Loomis Sayles & Co. L P increased its position in shares of Seattle Genetics by 10.1% in the first quarter. Loomis Sayles & Co. L P now owns 979 shares of the biotechnology company’s stock worth $113,000 after purchasing an additional 90 shares during the last quarter. Elite Wealth Management Inc. increased its position in shares of Seattle Genetics by 2.0% in the second quarter. Elite Wealth Management Inc. now owns 4,768 shares of the biotechnology company’s stock worth $810,000 after purchasing an additional 94 shares during the last quarter. Finally, Fairfield Bush & CO. increased its position in shares of Seattle Genetics by 0.9% in the first quarter. Fairfield Bush & CO. now owns 11,338 shares of the biotechnology company’s stock worth $1,308,000 after purchasing an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 94.61% of the company’s stock.

In other news, insider Roger D. Dansey sold 11,912 shares of the firm’s stock in a transaction on Thursday, May 7th. The stock was sold at an average price of $164.50, for a total transaction of $1,959,524.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Vaughn B. Himes sold 8,000 shares of the firm’s stock in a transaction on Friday, July 17th. The shares were sold at an average price of $179.42, for a total value of $1,435,360.00. Following the transaction, the insider now owns 199,840 shares of the company’s stock, valued at $35,855,292.80. The disclosure for this sale can be found here. In the last quarter, insiders sold 721,041 shares of company stock valued at $115,476,023. 31.10% of the stock is owned by corporate insiders.

Several analysts have issued reports on the company. BidaskClub lowered Seattle Genetics from a “buy” rating to a “hold” rating in a research note on Saturday. Zacks Investment Research lowered Seattle Genetics from a “buy” rating to a “hold” rating and set a $132.00 target price for the company. in a research note on Wednesday, April 15th. ValuEngine lowered Seattle Genetics from a “buy” rating to a “hold” rating in a research note on Monday, May 4th. HC Wainwright reaffirmed a “buy” rating and issued a $200.00 target price (up previously from $175.00) on shares of Seattle Genetics in a research note on Friday. Finally, Royal Bank of Canada upped their target price on Seattle Genetics from $148.00 to $149.00 and gave the stock an “outperform” rating in a research note on Friday, May 1st. One analyst has rated the stock with a sell rating, eleven have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $150.16.

SGEN traded down $4.87 during trading on Friday, reaching $166.27. The stock had a trading volume of 2,346,344 shares, compared to its average volume of 976,297. The stock’s 50 day moving average is $169.28 and its two-hundred day moving average is $137.30. The company has a market capitalization of $28.78 billion, a price-to-earnings ratio of -110.11 and a beta of 1.46. Seattle Genetics, Inc. has a one year low of $65.44 and a one year high of $187.99.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 30th. The biotechnology company reported ($0.12) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.46. The business had revenue of $278.00 million during the quarter, compared to the consensus estimate of $256.74 million. Seattle Genetics had a negative return on equity of 18.34% and a negative net margin of 25.17%. Research analysts predict that Seattle Genetics, Inc. will post -2.69 EPS for the current 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.

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

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