ETRADE Capital Management LLC Purchases 1,246 Shares of Seattle Genetics, Inc. (NASDAQ:SGEN)

ETRADE Capital Management LLC lifted its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 17.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 8,258 shares of the biotechnology company’s stock after acquiring an additional 1,246 shares during the period. ETRADE Capital Management LLC’s holdings in Seattle Genetics were worth $953,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in SGEN. Amundi Pioneer Asset Management Inc. increased its position in shares of Seattle Genetics by 11.2% during the first quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock valued at $14,072,000 after acquiring an additional 19,394 shares in the last quarter. Nisa Investment Advisors LLC increased its position in shares of Seattle Genetics by 4.3% during the fourth quarter. Nisa Investment Advisors LLC now owns 15,983 shares of the biotechnology company’s stock valued at $1,826,000 after acquiring an additional 658 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of Seattle Genetics by 19.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 7,914 shares of the biotechnology company’s stock valued at $904,000 after acquiring an additional 1,281 shares in the last quarter. Candriam Luxembourg S.C.A. increased its position in shares of Seattle Genetics by 76.1% during the fourth quarter. Candriam Luxembourg S.C.A. now owns 379,904 shares of the biotechnology company’s stock valued at $43,408,000 after acquiring an additional 164,124 shares in the last quarter. Finally, Leavell Investment Management Inc. bought a new stake in shares of Seattle Genetics during the fourth quarter valued at approximately $229,000. 95.11% of the stock is owned by institutional investors.

Shares of Seattle Genetics stock opened at $154.20 on Friday. The company’s fifty day simple moving average is $141.81 and its 200-day simple moving average is $119.84. The stock has a market capitalization of $26.69 billion, a PE ratio of -82.02 and a beta of 1.41. Seattle Genetics, Inc. has a 1-year low of $63.02 and a 1-year high of $168.10.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.81) by ($0.17). Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The firm had revenue of $234.51 million for the quarter, compared to analysts’ expectations of $207.59 million. During the same quarter last year, the firm posted ($0.08) EPS. The firm’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, equities research analysts expect that Seattle Genetics, Inc. will post -2.8 EPS for the current fiscal year.

In related news, Director Bros. Advisors Lp Baker sold 500,000 shares of Seattle Genetics stock in a transaction on Friday, May 8th. The shares were sold at an average price of $158.50, for a total transaction of $79,250,000.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Charles R. Romp sold 5,056 shares of Seattle Genetics stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $166.18, for a total transaction of $840,206.08. Following the transaction, the executive vice president now owns 54,575 shares in the company, valued at approximately $9,069,273.50. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 691,733 shares of company stock worth $107,475,576. 31.10% of the stock is owned by corporate insiders.

Several equities research analysts recently issued reports on the stock. Oppenheimer raised their target price on shares of Seattle Genetics from $124.00 to $146.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. Royal Bank of Canada raised their target price on shares of Seattle Genetics from $148.00 to $149.00 and gave the stock an “outperform” rating in a report on Friday, May 1st. Needham & Company LLC raised their target price on shares of Seattle Genetics from $157.00 to $163.00 and gave the stock a “buy” rating in a report on Friday, May 1st. Piper Sandler raised their target price on shares of Seattle Genetics from $135.00 to $155.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Finally, BMO Capital Markets raised their target price on shares of Seattle Genetics from $139.00 to $154.00 and gave the stock an “outperform” rating in a report on Monday, April 20th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $138.50.

Seattle Genetics Profile

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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