Frontier Capital Management Co. LLC Acquires 91,185 Shares of Seattle Genetics, Inc. (SGEN)

Frontier Capital Management Co. LLC grew its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 7.8% in the first quarter, Holdings Channel reports. The institutional investor owned 1,258,153 shares of the biotechnology company’s stock after buying an additional 91,185 shares during the quarter. Frontier Capital Management Co. LLC’s holdings in Seattle Genetics were worth $92,147,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Spectrum Management Group Inc. acquired a new stake in shares of Seattle Genetics in the first quarter valued at about $34,000. Flagship Harbor Advisors LLC raised its position in shares of Seattle Genetics by 112.9% in the first quarter. Flagship Harbor Advisors LLC now owns 660 shares of the biotechnology company’s stock valued at $48,000 after buying an additional 350 shares during the last quarter. Captrust Financial Advisors raised its position in shares of Seattle Genetics by 167.4% in the fourth 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 fourth quarter valued at about $57,000. Finally, Quadrant Capital Group LLC raised its position in shares of Seattle Genetics by 424.7% in the first quarter. Quadrant Capital Group LLC now owns 850 shares of the biotechnology company’s stock valued at $60,000 after buying an additional 688 shares during the last quarter.

In other Seattle Genetics news, CEO Clay B. Siegall sold 20,148 shares of Seattle Genetics stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $69.19, for a total transaction of $1,394,040.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Todd E. Simpson sold 10,000 shares of Seattle Genetics stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $75.00, for a total transaction of $750,000.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 100,768 shares of company stock valued at $7,328,530. 33.80% of the stock is owned by company insiders.

SGEN has been the subject of a number of recent research reports. Piper Jaffray Companies reduced their target price on shares of Seattle Genetics to $64.00 and set a “neutral” rating for the company in a research report on Thursday, February 7th. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Seattle Genetics in a research report on Sunday, April 28th. BidaskClub upgraded shares of Seattle Genetics from a “buy” rating to a “strong-buy” rating in a research report on Thursday, January 31st. William Blair restated an “outperform” rating on shares of Seattle Genetics in a research report on Monday, March 25th. Finally, Royal Bank of Canada raised their price objective on shares of Seattle Genetics from $89.00 to $90.00 and gave the stock an “outperform” rating in a research report on Friday, April 5th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, ten have given a buy rating and one has assigned a strong buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of “Buy” and an average target price of $84.45.

Seattle Genetics stock traded up $2.03 during midday trading on Thursday, hitting $66.02. 4,610 shares of the stock were exchanged, compared to its average volume of 879,415. Seattle Genetics, Inc. has a fifty-two week low of $50.71 and a fifty-two week high of $84.37. The stock has a market cap of $10.49 billion, a P/E ratio of -39.75 and a beta of 2.22.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, April 25th. The biotechnology company reported ($0.08) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.33) by $0.25. Seattle Genetics had a negative net margin of 17.52% and a negative return on equity of 16.09%. The firm had revenue of $195.20 million during the quarter, compared to analysts’ expectations of $186.79 million. During the same period last year, the business earned ($0.73) earnings per share. Seattle Genetics’s revenue was up 38.8% compared to the same quarter last year. Research analysts anticipate that Seattle Genetics, Inc. will post -1.36 earnings per share 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.

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

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