Metropolitan Life Insurance Co. NY maintained its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) during the first quarter, Holdings Channel reports. The firm owned 6,607 shares of the biotechnology company’s stock at the end of the first quarter. Metropolitan Life Insurance Co. NY’s holdings in Seattle Genetics were worth $415,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Seattle Genetics during the first quarter valued at approximately $119,000. Tradewinds Capital Management LLC raised its position in shares of Seattle Genetics by 2.3% in the first quarter. Tradewinds Capital Management LLC now owns 2,344 shares of the biotechnology company’s stock valued at $147,000 after buying an additional 52 shares in the last quarter. Daiwa Securities Group Inc. raised its position in shares of Seattle Genetics by 562.5% in the first quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock valued at $167,000 after buying an additional 2,250 shares in the last quarter. Capital Fund Management S.A. purchased a new position in shares of Seattle Genetics during the first quarter valued at approximately $208,000. Finally, Miles Capital Inc. purchased a new position in shares of Seattle Genetics during the first quarter valued at approximately $226,000. 98.21% of the stock is owned by institutional investors and hedge funds.

Seattle Genetics, Inc. (NASDAQ:SGEN) traded down 1.29% during midday trading on Thursday, reaching $46.56. The company had a trading volume of 87,942 shares. The company’s market capitalization is $6.66 billion. The firm has a 50-day moving average of $51.30 and a 200 day moving average of $60.94. Seattle Genetics, Inc. has a 1-year low of $42.58 and a 1-year high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The company had revenue of $108.20 million during the quarter, compared to analysts’ expectations of $105.92 million. During the same period last year, the business posted ($0.23) earnings per share. The firm’s revenue was up 13.4% compared to the same quarter last year. On average, equities research analysts forecast that Seattle Genetics, Inc. will post ($1.70) EPS for the current year.

TRADEMARK VIOLATION NOTICE: “Metropolitan Life Insurance Co. NY Has $415,000 Stake in Seattle Genetics, Inc. (SGEN)” was reported by Watch List News and is the sole property of of Watch List News. If you are viewing this news story on another website, it was stolen and reposted in violation of US & international copyright and trademark legislation. The legal version of this news story can be accessed at https://www.watchlistnews.com/metropolitan-life-insurance-co-ny-has-415000-stake-in-seattle-genetics-inc-sgen/1499570.html.

Several equities analysts have commented on the company. Barclays PLC reissued a “hold” rating on shares of Seattle Genetics in a research report on Friday, June 23rd. BidaskClub lowered Seattle Genetics from a “hold” rating to a “sell” rating in a research report on Wednesday, June 28th. TheStreet lowered Seattle Genetics from a “c-” rating to a “d” rating in a research report on Tuesday, May 9th. Jefferies Group LLC reissued a “buy” rating and set a $53.00 price objective on shares of Seattle Genetics in a research report on Thursday, July 27th. Finally, ValuEngine raised Seattle Genetics from a “sell” rating to a “hold” rating in a research report on Friday, June 2nd. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $62.29.

In other Seattle Genetics news, insider Clay B. Siegall sold 10,423 shares of the stock in a transaction dated Monday, June 5th. The stock was sold at an average price of $65.21, for a total value of $679,683.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction dated Thursday, July 27th. The shares were sold at an average price of $54.54, for a total value of $545,400.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 57,259 shares of company stock valued at $3,211,411. 33.30% of the stock is currently owned by company insiders.

Seattle Genetics Company Profile

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

Want to see what other hedge funds are holding SGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seattle Genetics, Inc. (NASDAQ:SGEN).

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

Receive News & Ratings for Seattle Genetics Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics Inc. and related companies with Analyst Ratings Network's FREE daily email newsletter.