Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in Seattle Genetics, Inc. (NASDAQ:SGEN) by 7.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 18,273 shares of the biotechnology company’s stock after selling 1,366 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seattle Genetics were worth $2,088,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the stock. Janney Montgomery Scott LLC boosted its holdings in Seattle Genetics by 19.3% in the fourth quarter. Janney Montgomery Scott LLC now owns 7,914 shares of the biotechnology company’s stock valued at $904,000 after acquiring an additional 1,281 shares in the last quarter. Nisa Investment Advisors LLC boosted its holdings in shares of 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 buying an additional 658 shares in the last quarter. Alpine Global Management LLC bought a new stake in shares of Seattle Genetics during the 4th quarter valued at $349,000. DNB Asset Management AS boosted its holdings in shares of Seattle Genetics by 17.7% during the 4th quarter. DNB Asset Management AS now owns 13,205 shares of the biotechnology company’s stock valued at $1,509,000 after buying an additional 1,986 shares in the last quarter. Finally, Addison Capital Co boosted its holdings in shares of Seattle Genetics by 5.6% during the 4th quarter. Addison Capital Co now owns 6,658 shares of the biotechnology company’s stock valued at $761,000 after buying an additional 353 shares in the last quarter. Institutional investors and hedge funds own 95.18% of the company’s stock.

Shares of SGEN traded up $1.85 during trading hours on Tuesday, hitting $112.28. The company had a trading volume of 30,428 shares, compared to its average volume of 876,301. The firm has a fifty day moving average price of $112.54 and a 200-day moving average price of $93.67. The stock has a market capitalization of $19.46 billion, a price-to-earnings ratio of -60.03 and a beta of 1.98. Seattle Genetics, Inc. has a 52-week low of $62.90 and a 52-week high of $122.36.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, October 29th. The biotechnology company reported ($0.55) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.19). The company had revenue of $213.26 million during the quarter, compared to analysts’ expectations of $211.85 million. Seattle Genetics had a negative return on equity of 19.17% and a negative net margin of 37.97%. Seattle Genetics’s revenue for the quarter was up 25.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.42) EPS. On average, sell-side analysts predict that Seattle Genetics, Inc. will post -1.57 EPS for the current year.

A number of analysts have recently commented on the stock. Leerink Swann boosted their target price on shares of Seattle Genetics from $102.00 to $120.00 and gave the company a “positive” rating in a report on Tuesday, October 22nd. Bank of America assumed coverage on shares of Seattle Genetics in a report on Tuesday, December 3rd. They set a “neutral” rating and a $125.00 target price on the stock. Stifel Nicolaus boosted their target price on shares of Seattle Genetics from $87.00 to $101.00 in a report on Thursday, December 19th. HC Wainwright restated a “buy” rating and set a $140.00 target price on shares of Seattle Genetics in a report on Friday, December 13th. Finally, Oppenheimer boosted their target price on shares of Seattle Genetics from $110.00 to $124.00 and gave the company an “outperform” rating in a report on Thursday, December 12th. Ten research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Seattle Genetics presently has an average rating of “Buy” and an average price target of $113.88.

In other news, CEO Lip Bu Tan sold 50,000 shares of Seattle Genetics stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $67.09, for a total value of $3,354,500.00. Also, CEO Clay B. Siegall sold 28,472 shares of Seattle Genetics stock in a transaction dated Wednesday, January 8th. The stock was sold at an average price of $111.32, for a total value of $3,169,503.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 207,916 shares of company stock valued at $21,351,597. 33.80% of the stock is owned by insiders.

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: Cash Flow

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

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