Bank of America Corp DE reduced its holdings in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 21.7% in the 4th quarter, HoldingsChannel reports. The fund owned 210,218 shares of the biotechnology company’s stock after selling 58,117 shares during the period. Bank of America Corp DE’s holdings in Seattle Genetics were worth $11,911,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of SGEN. Captrust Financial Advisors boosted its holdings in shares of Seattle Genetics by 167.4% in the 4th quarter. Captrust Financial Advisors now owns 893 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 559 shares during the last quarter. Valeo Financial Advisors LLC acquired a new stake in shares of Seattle Genetics in the 4th quarter valued at approximately $57,000. Financial Architects Inc boosted its holdings in shares of Seattle Genetics by 60.2% in the 4th quarter. Financial Architects Inc now owns 1,331 shares of the biotechnology company’s stock valued at $75,000 after buying an additional 500 shares during the last quarter. Advisor Group Inc. boosted its holdings in shares of Seattle Genetics by 20.8% in the 4th quarter. Advisor Group Inc. now owns 1,349 shares of the biotechnology company’s stock valued at $77,000 after buying an additional 232 shares during the last quarter. Finally, Paradigm Asset Management Co. LLC acquired a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $108,000.

In other Seattle Genetics news, insider Clay B. Siegall sold 20,148 shares of the firm’s stock in a transaction on Friday, February 8th. The stock was sold at an average price of $65.17, for a total transaction of $1,313,045.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd E. Simpson sold 10,000 shares of the firm’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $75.00, for a total value of $750,000.00. The disclosure for this sale can be found here. Insiders have sold a total of 95,944 shares of company stock valued at $6,945,020 in the last ninety days. Insiders own 33.80% of the company’s stock.

Several research firms have recently commented on SGEN. Stifel Nicolaus began coverage on Seattle Genetics in a report on Wednesday. They issued a “hold” rating for the company. Zacks Investment Research raised Seattle Genetics from a “strong sell” rating to a “hold” rating in a report on Wednesday. Royal Bank of Canada increased their price objective on Seattle Genetics from $89.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, April 5th. TheStreet raised Seattle Genetics from a “d+” rating to a “c” rating in a report on Friday, February 1st. Finally, BidaskClub raised Seattle Genetics from a “buy” rating to a “strong-buy” rating in a report on Thursday, January 31st. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company. Seattle Genetics presently has an average rating of “Buy” and a consensus target price of $82.64.

Shares of Seattle Genetics stock opened at $80.91 on Thursday. Seattle Genetics, Inc. has a 1 year low of $47.75 and a 1 year high of $84.37. The firm has a market cap of $12.98 billion, a price-to-earnings ratio of -49.04 and a beta of 2.31.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.39) by ($0.36). Seattle Genetics had a negative net margin of 34.01% and a negative return on equity of 19.33%. The business had revenue of $174.50 million for the quarter, compared to analyst estimates of $164.03 million. During the same period in the prior year, the business earned ($0.41) EPS. The company’s revenue for the quarter was up 34.6% compared to the same quarter last year. Equities research analysts expect that Seattle Genetics, Inc. will post -0.9 earnings per share for the current fiscal year.

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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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