Swiss National Bank Increases Position in Seattle Genetics, Inc. (SGEN)

Swiss National Bank lifted its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 0.9% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 367,200 shares of the biotechnology company’s stock after purchasing an additional 3,400 shares during the period. Swiss National Bank owned 256,729.36% of Seattle Genetics worth $19,979,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Seattle Genetics by 2.3% in the second quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock valued at $389,628,000 after purchasing an additional 167,828 shares during the period. BlackRock Inc. boosted its holdings in shares of Seattle Genetics by 2.6% in the second quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock valued at $385,644,000 after purchasing an additional 185,823 shares during the period. Capital International Investors boosted its holdings in shares of Seattle Genetics by 34.3% in the second quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock valued at $140,970,000 after purchasing an additional 695,986 shares during the period. Matrix Capital Management Company LP boosted its holdings in shares of Seattle Genetics by 18.8% in the second quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock valued at $109,585,000 after purchasing an additional 335,000 shares during the period. Finally, Pictet Asset Management Ltd. boosted its holdings in shares of Seattle Genetics by 79.3% in the third quarter. Pictet Asset Management Ltd. now owns 1,266,426 shares of the biotechnology company’s stock valued at $68,906,000 after purchasing an additional 560,110 shares during the period. Hedge funds and other institutional investors own 98.45% of the company’s stock.

Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $59.79 on Friday. Seattle Genetics, Inc. has a 12-month low of $45.31 and a 12-month high of $73.91.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.42) by $0.23. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The firm had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. During the same period in the prior year, the firm earned ($0.23) EPS. The firm’s revenue was up 27.3% on a year-over-year basis. equities analysts forecast that Seattle Genetics, Inc. will post -0.93 EPS for the current fiscal year.

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In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $61.18, for a total transaction of $1,152,141.76. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Darren S. Cline sold 1,788 shares of the stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total value of $85,627.32. The disclosure for this sale can be found here. Over the last three months, insiders sold 263,165 shares of company stock worth $14,403,647. 34.70% of the stock is owned by insiders.

A number of analysts recently issued reports on the company. Barclays PLC upgraded Seattle Genetics from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $60.00 to $70.00 in a report on Friday, October 20th. Zacks Investment Research lowered Seattle Genetics from a “buy” rating to a “hold” rating in a report on Monday, October 16th. SunTrust Banks, Inc. set a $52.00 target price on Seattle Genetics and gave the stock a “hold” rating in a report on Friday, October 27th. Cowen and Company restated a “hold” rating on shares of Seattle Genetics in a report on Sunday, October 29th. Finally, J P Morgan Chase & Co upped their target price on Seattle Genetics from $55.00 to $60.00 and gave the stock a “neutral” rating in a report on Monday, October 30th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $63.53.

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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