ETF Managers Group LLC grew its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 7.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,733 shares of the biotechnology company’s stock after purchasing an additional 196 shares during the period. ETF Managers Group LLC’s holdings in Seattle Genetics were worth $200,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Frontier Capital Management Co. LLC increased its position in shares of Seattle Genetics by 943.8% in the fourth quarter. Frontier Capital Management Co. LLC now owns 1,166,968 shares of the biotechnology company’s stock valued at $66,120,000 after acquiring an additional 1,055,173 shares during the last quarter. American Century Companies Inc. acquired a new stake in shares of Seattle Genetics in the fourth quarter valued at about $44,729,000. Norges Bank acquired a new stake in shares of Seattle Genetics in the fourth quarter valued at about $44,082,000. First Trust Advisors LP increased its position in shares of Seattle Genetics by 13.0% in the fourth quarter. First Trust Advisors LP now owns 2,011,114 shares of the biotechnology company’s stock valued at $113,950,000 after acquiring an additional 231,919 shares during the last quarter. Finally, Vanguard Group Inc increased its position in shares of Seattle Genetics by 1.7% in the third quarter. Vanguard Group Inc now owns 8,914,184 shares of the biotechnology company’s stock valued at $687,461,000 after acquiring an additional 148,979 shares during the last quarter. Institutional investors own 99.92% of the company’s stock.
In other news, CFO Todd E. Simpson sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $75.00, for a total value of $750,000.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Vaughn B. Himes sold 8,000 shares of the company’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $68.72, for a total value of $549,760.00. 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. Company insiders own 33.80% of the company’s stock.
Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, April 25th. The biotechnology company reported ($0.08) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.33) by $0.25. The firm had revenue of $195.20 million for the quarter, compared to the consensus estimate of $186.79 million. Seattle Genetics had a negative return on equity of 16.09% and a negative net margin of 17.52%. The business’s revenue was up 38.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.73) earnings per share. Equities analysts forecast that Seattle Genetics, Inc. will post -1.36 EPS for the current year.
A number of research firms recently issued reports on SGEN. William Blair reaffirmed an “outperform” rating on shares of Seattle Genetics in a research report on Monday, March 25th. HC Wainwright reaffirmed a “buy” rating and issued a $98.00 target price on shares of Seattle Genetics in a research report on Friday, February 8th. ValuEngine downgraded Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 1st. Piper Jaffray Companies lowered their target price on Seattle Genetics to $64.00 and set a “neutral” rating on the stock in a research report on Thursday, February 7th. Finally, Berenberg Bank assumed coverage on Seattle Genetics in a research report on Wednesday, March 27th. They issued a “buy” rating and a $95.00 target price on the stock. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Seattle Genetics currently has an average rating of “Buy” and an average price target of $84.45.
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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