Flagship Harbor Advisors LLC raised its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 112.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 660 shares of the biotechnology company’s stock after purchasing an additional 350 shares during the period. Flagship Harbor Advisors LLC’s holdings in Seattle Genetics were worth $48,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Virtu Financial LLC purchased a new position in shares of Seattle Genetics during the first quarter worth approximately $1,296,000. Canton Hathaway LLC boosted its stake in Seattle Genetics by 300.0% in the first quarter. Canton Hathaway LLC now owns 2,400 shares of the biotechnology company’s stock valued at $175,000 after acquiring an additional 1,800 shares in the last quarter. Gateway Investment Advisers LLC boosted its stake in Seattle Genetics by 0.3% in the first quarter. Gateway Investment Advisers LLC now owns 62,280 shares of the biotechnology company’s stock valued at $4,561,000 after acquiring an additional 171 shares in the last quarter. Hollencrest Capital Management acquired a new stake in Seattle Genetics in the first quarter valued at approximately $205,000. Finally, Deutsche Bank AG boosted its stake in Seattle Genetics by 10.3% in the fourth quarter. Deutsche Bank AG now owns 77,996 shares of the biotechnology company’s stock valued at $4,417,000 after acquiring an additional 7,306 shares in the last quarter.

In other news, insider Vaughn B. Himes sold 8,000 shares of Seattle Genetics stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $68.72, for a total value of $549,760.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 20,148 shares of Seattle Genetics stock in a transaction dated Friday, February 8th. The shares were sold at an average price of $65.17, for a total transaction of $1,313,045.16. The disclosure for this sale can be found here. Insiders sold 95,944 shares of company stock valued at $6,945,020 in the last ninety days. 33.80% of the stock is owned by corporate insiders.

A number of research analysts have issued reports on SGEN shares. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Seattle Genetics in a report on Thursday, January 10th. TheStreet raised shares of Seattle Genetics from a “d+” rating to a “c” rating in a report on Friday, February 1st. William Blair reaffirmed an “outperform” rating on shares of Seattle Genetics in a report on Monday, March 25th. Piper Jaffray Companies decreased their price target on shares of Seattle Genetics to $64.00 and set a “neutral” rating for the company in a report on Thursday, February 7th. Finally, HC Wainwright reissued a “buy” rating and set a $98.00 target price on shares of Seattle Genetics in a report on Friday, February 8th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $81.58.

SGEN opened at $69.18 on Monday. Seattle Genetics, Inc. has a fifty-two week low of $47.75 and a fifty-two week high of $84.37. The firm has a market capitalization of $11.13 billion, a price-to-earnings ratio of -41.93 and a beta of 2.30.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, February 7th. The biotechnology company reported ($0.75) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $174.50 million during the quarter, compared to analysts’ expectations of $164.03 million. During the same period in the previous year, the firm posted ($0.41) EPS. The firm’s quarterly revenue was up 34.6% on a year-over-year basis. As a group, equities research analysts expect that Seattle Genetics, Inc. will post -1.01 EPS for the current fiscal 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.

Further Reading: Mutual Funds

Institutional Ownership by Quarter for Seattle Genetics (NASDAQ:SGEN)

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