Allianz Asset Management GmbH lessened its holdings in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 2.9% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 49,847 shares of the biotechnology company’s stock after selling 1,511 shares during the quarter. Allianz Asset Management GmbH’s holdings in Seattle Genetics were worth $2,667,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in SGEN. Capital International Investors increased its position in Seattle Genetics by 63.7% during the third quarter. Capital International Investors now owns 4,460,246 shares of the biotechnology company’s stock worth $242,682,000 after buying an additional 1,735,657 shares during the last quarter. Capital Guardian Trust Co. increased its position in Seattle Genetics by 82.2% during the third quarter. Capital Guardian Trust Co. now owns 1,064,300 shares of the biotechnology company’s stock worth $57,909,000 after buying an additional 480,044 shares during the last quarter. Capital Bank & Trust Co increased its position in Seattle Genetics by 43.7% during the third quarter. Capital Bank & Trust Co now owns 834,519 shares of the biotechnology company’s stock worth $45,406,000 after buying an additional 253,753 shares during the last quarter. BlackRock Inc. increased its position in Seattle Genetics by 2.9% during the fourth quarter. BlackRock Inc. now owns 7,756,494 shares of the biotechnology company’s stock worth $414,975,000 after buying an additional 220,955 shares during the last quarter. Finally, UBS Asset Management Americas Inc. increased its position in Seattle Genetics by 31.1% during the fourth quarter. UBS Asset Management Americas Inc. now owns 726,083 shares of the biotechnology company’s stock worth $38,845,000 after buying an additional 172,224 shares during the last quarter. 93.09% of the stock is currently owned by hedge funds and other institutional investors.

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In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction that occurred on Friday, February 9th. The shares were sold at an average price of $49.75, for a total transaction of $936,892.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Bros. Advisors Lp Baker acquired 3,846,153 shares of the stock in a transaction on Thursday, February 1st. The shares were purchased at an average price of $52.00 per share, with a total value of $199,999,956.00. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 71,953 shares of company stock valued at $3,833,188. 34.70% of the stock is currently owned by corporate insiders.

A number of brokerages have recently issued reports on SGEN. Morgan Stanley reduced their price objective on Seattle Genetics from $69.00 to $67.00 and set an “overweight” rating for the company in a report on Wednesday. SunTrust Banks restated a “hold” rating and set a $60.00 price objective on shares of Seattle Genetics in a report on Wednesday, February 7th. Oppenheimer restated a “hold” rating on shares of Seattle Genetics in a report on Tuesday, January 2nd. BidaskClub upgraded Seattle Genetics from a “sell” rating to a “hold” rating in a report on Thursday, March 15th. Finally, Cantor Fitzgerald set a $50.00 price objective on Seattle Genetics and gave the stock a “hold” rating in a report on Tuesday. Ten equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $64.63.

Shares of Seattle Genetics stock opened at $54.12 on Thursday. The stock has a market capitalization of $8,802.63, a P/E ratio of -61.50 and a beta of 1.96. Seattle Genetics, Inc. has a 12 month low of $45.31 and a 12 month high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.43) by $0.02. The business had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The firm’s revenue for the quarter was up 23.1% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.39) earnings per share. equities analysts expect that Seattle Genetics, Inc. will post -1.53 EPS for the current fiscal year.

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About Seattle Genetics

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).

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

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