Seattle Genetics, Inc. (SGEN) Stake Increased by Van ECK Associates Corp

Van ECK Associates Corp grew its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 39.1% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 210,550 shares of the biotechnology company’s stock after buying an additional 59,205 shares during the period. Van ECK Associates Corp owned 0.15% of Seattle Genetics worth $10,894,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. boosted its stake in Seattle Genetics by 73.6% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 375,642 shares of the biotechnology company’s stock worth $19,436,000 after purchasing an additional 159,227 shares in the last quarter. Verity Asset Management Inc. boosted its stake in Seattle Genetics by 31.0% in the 2nd quarter. Verity Asset Management Inc. now owns 5,882 shares of the biotechnology company’s stock worth $304,000 after purchasing an additional 1,391 shares in the last quarter. Sivik Global Healthcare LLC boosted its stake in Seattle Genetics by 66.7% in the 2nd quarter. Sivik Global Healthcare LLC now owns 25,000 shares of the biotechnology company’s stock worth $1,294,000 after purchasing an additional 10,000 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in Seattle Genetics by 131.6% in the 2nd quarter. PNC Financial Services Group Inc. now owns 9,661 shares of the biotechnology company’s stock worth $501,000 after purchasing an additional 5,490 shares in the last quarter. Finally, Laurion Capital Management LP acquired a new stake in Seattle Genetics in the 2nd quarter worth approximately $287,000. Institutional investors and hedge funds own 97.63% of the company’s stock.

A number of equities analysts have issued reports on SGEN shares. Needham & Company LLC reissued a “buy” rating and set a $72.00 price target on shares of Seattle Genetics in a research report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a report on Thursday, July 27th. Cantor Fitzgerald set a $43.00 target price on shares of Seattle Genetics and gave the company a “hold” rating in a report on Monday, June 19th. Cowen and Company reaffirmed a “hold” rating and set a $54.00 target price (down from $61.00) on shares of Seattle Genetics in a report on Monday, June 19th. Finally, Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Monday, June 19th. Three research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $61.77.

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Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) opened at 52.48 on Friday. The firm’s market cap is $7.51 billion. The firm’s 50-day moving average is $49.71 and its 200 day moving average is $58.82. Seattle Genetics, Inc. has a 52 week low of $45.31 and a 52 week high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. The firm had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. Seattle Genetics’s revenue was up 13.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.23) earnings per share. Equities research analysts forecast that Seattle Genetics, Inc. will post ($1.68) EPS for the current year.

In other news, insider Clay B. Siegall sold 10,413 shares of the firm’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $48.91, for a total value of $509,299.83. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CMO Jonathan G. Drachman sold 10,000 shares of the firm’s stock in a transaction on Thursday, July 27th. The shares were sold at an average price of $54.54, for a total value of $545,400.00. The disclosure for this sale can be found here. Insiders sold 175,352 shares of company stock valued at $8,884,096 in the last quarter. 34.70% of the stock is currently owned by company insiders.

Seattle Genetics Profile

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

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

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