Cetera Advisor Networks LLC bought a new position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the 1st quarter, Holdings Channel reports. The fund bought 4,735 shares of the biotechnology company’s stock, valued at approximately $347,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the business. BlackRock Inc. increased its position in Seattle Genetics by 0.7% during the 4th quarter. BlackRock Inc. now owns 9,104,981 shares of the biotechnology company’s stock worth $515,888,000 after purchasing an additional 62,743 shares during the period. Vanguard Group Inc grew its holdings in shares of Seattle Genetics by 1.7% in the 3rd quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock worth $687,461,000 after acquiring an additional 148,979 shares during the period. First Trust Advisors LP grew its holdings in shares of Seattle Genetics by 13.0% in the 4th quarter. First Trust Advisors LP now owns 2,011,114 shares of the biotechnology company’s stock worth $113,950,000 after acquiring an additional 231,919 shares during the period. Manning & Napier Group LLC grew its holdings in shares of Seattle Genetics by 9.1% in the 4th quarter. Manning & Napier Group LLC now owns 1,625,891 shares of the biotechnology company’s stock worth $92,122,000 after acquiring an additional 135,280 shares during the period. Finally, Frontier Capital Management Co. LLC grew its holdings in shares of Seattle Genetics by 943.8% in the 4th quarter. Frontier Capital Management Co. LLC now owns 1,166,968 shares of the biotechnology company’s stock worth $66,120,000 after acquiring an additional 1,055,173 shares during the period. Institutional investors own 99.92% of the company’s stock.

In other Seattle Genetics news, CFO Todd E. Simpson sold 10,000 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $75.00, for a total transaction of $750,000.00. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Clay B. Siegall sold 20,148 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $69.19, for a total value of $1,394,040.12. The disclosure for this sale can be found here. In the last three months, insiders have sold 100,768 shares of company stock worth $7,328,530. Corporate insiders own 33.80% of the company’s stock.

SGEN has been the topic of a number of analyst reports. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $82.00 target price on the stock in a report on Wednesday, January 30th. TheStreet upgraded Seattle Genetics from a “d+” rating to a “c” rating in a report on Friday, February 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Seattle Genetics in a report on Sunday, April 28th. BidaskClub cut Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Thursday, April 18th. Finally, Royal Bank of Canada increased their target price on Seattle Genetics from $89.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $84.45.

Shares of NASDAQ:SGEN opened at $68.03 on Friday. The firm has a market cap of $10.97 billion, a price-to-earnings ratio of -41.23 and a beta of 2.22. Seattle Genetics, Inc. has a one year low of $50.71 and a one year high of $84.37.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, April 25th. The biotechnology company reported ($0.08) EPS for the quarter, beating analysts’ consensus estimates of ($0.33) by $0.25. Seattle Genetics had a negative return on equity of 16.09% and a negative net margin of 17.52%. The firm had revenue of $195.20 million for the quarter, compared to analysts’ expectations of $186.79 million. During the same quarter in the prior year, the firm earned ($0.73) EPS. Seattle Genetics’s quarterly revenue was up 38.8% on a year-over-year basis. Equities research analysts forecast that Seattle Genetics, Inc. will post -1.36 earnings per share for the current year.

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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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