Swiss National Bank lifted its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 25.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 465,692 shares of the biotechnology company’s stock after acquiring an additional 93,100 shares during the period. Swiss National Bank’s holdings in Seattle Genetics were worth $53,732,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in SGEN. Amundi Pioneer Asset Management Inc. increased its position in shares of Seattle Genetics by 11.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock worth $14,072,000 after acquiring an additional 19,394 shares in the last quarter. Nisa Investment Advisors LLC grew its holdings in Seattle Genetics by 4.3% during the 4th quarter. Nisa Investment Advisors LLC now owns 15,983 shares of the biotechnology company’s stock valued at $1,826,000 after purchasing an additional 658 shares in the last quarter. Janney Montgomery Scott LLC grew its holdings in Seattle Genetics by 19.3% during the 4th quarter. Janney Montgomery Scott LLC now owns 7,914 shares of the biotechnology company’s stock valued at $904,000 after purchasing an additional 1,281 shares in the last quarter. Candriam Luxembourg S.C.A. grew its holdings in Seattle Genetics by 76.1% during the 4th quarter. Candriam Luxembourg S.C.A. now owns 379,904 shares of the biotechnology company’s stock valued at $43,408,000 after purchasing an additional 164,124 shares in the last quarter. Finally, Leavell Investment Management Inc. acquired a new stake in Seattle Genetics during the 4th quarter valued at $229,000. 95.11% of the stock is owned by institutional investors.
Seattle Genetics stock opened at $154.20 on Friday. The firm’s 50-day moving average is $141.81 and its 200-day moving average is $119.84. Seattle Genetics, Inc. has a 1 year low of $63.02 and a 1 year high of $168.10.
Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.81) by ($0.17). Seattle Genetics had a negative return on equity of 16.51% and a negative net margin of 32.81%. The business had revenue of $234.51 million during the quarter, compared to the consensus estimate of $207.59 million. During the same quarter in the previous year, the business posted ($0.08) earnings per share. The company’s quarterly revenue was up 20.1% compared to the same quarter last year. On average, research analysts expect that Seattle Genetics, Inc. will post -2.8 earnings per share for the current year.
In other news, EVP Charles R. Romp sold 6,942 shares of the firm’s stock in a transaction dated Tuesday, May 12th. The shares were sold at an average price of $166.00, for a total value of $1,152,372.00. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Vaughn B. Himes sold 8,000 shares of the firm’s stock in a transaction dated Friday, March 6th. The stock was sold at an average price of $114.91, for a total transaction of $919,280.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 691,733 shares of company stock worth $107,475,576. Insiders own 31.10% of the company’s stock.
A number of research firms recently weighed in on SGEN. SVB Leerink raised their price target on shares of Seattle Genetics from $146.00 to $155.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Piper Sandler raised their price target on shares of Seattle Genetics from $135.00 to $155.00 and gave the company an “overweight” rating in a report on Monday, April 27th. Oppenheimer raised their price target on shares of Seattle Genetics from $124.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, April 20th. William Blair reaffirmed a “buy” rating on shares of Seattle Genetics in a report on Friday, April 3rd. Finally, ValuEngine lowered shares of Seattle Genetics from a “buy” rating to a “hold” rating in a report on Monday, May 4th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average 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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