ETRADE Capital Management LLC Increases Position in Seattle Genetics, Inc. (NASDAQ:SGEN)

ETRADE Capital Management LLC boosted its position in Seattle Genetics, Inc. (NASDAQ:SGEN) by 17.8% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,258 shares of the biotechnology company’s stock after purchasing an additional 1,246 shares during the period. ETRADE Capital Management LLC’s holdings in Seattle Genetics were worth $953,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of SGEN. Synovus Financial Corp lifted its stake in Seattle Genetics by 206.5% in the first quarter. Synovus Financial Corp now owns 331 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 223 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in Seattle Genetics in the fourth quarter valued at approximately $39,000. Exchange Traded Concepts LLC lifted its stake in Seattle Genetics by 387.2% in the first quarter. Exchange Traded Concepts LLC now owns 458 shares of the biotechnology company’s stock valued at $53,000 after purchasing an additional 364 shares during the last quarter. Benjamin F. Edwards & Company Inc. lifted its stake in Seattle Genetics by 66.7% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 500 shares of the biotechnology company’s stock valued at $58,000 after purchasing an additional 200 shares during the last quarter. Finally, James Investment Research Inc. purchased a new position in Seattle Genetics in the fourth quarter valued at approximately $71,000. Institutional investors and hedge funds own 95.11% of the company’s stock.

A number of equities research analysts have issued reports on SGEN shares. Oppenheimer boosted their target price on shares of Seattle Genetics from $124.00 to $146.00 and gave the company an “outperform” rating in a report on Monday, April 20th. JPMorgan Chase & Co. reissued a “buy” rating on shares of Seattle Genetics in a report on Tuesday, February 11th. Royal Bank of Canada boosted their target price on shares of Seattle Genetics from $148.00 to $149.00 and gave the company an “outperform” rating in a report on Friday, May 1st. Stifel Nicolaus boosted their target price on shares of Seattle Genetics from $120.00 to $127.00 and gave the company a “hold” rating in a report on Friday, May 1st. Finally, Morgan Stanley boosted their target price on shares of Seattle Genetics from $111.00 to $149.00 and gave the company an “equal weight” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have given a buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $138.50.

Seattle Genetics stock opened at $154.20 on Friday. The stock has a market cap of $26.69 billion, a P/E ratio of -82.02 and a beta of 1.41. Seattle Genetics, Inc. has a fifty-two week low of $63.02 and a fifty-two week high of $168.10. The firm’s fifty day moving average price is $141.81 and its 200-day moving average price is $119.84.

Seattle Genetics (NASDAQ:SGEN) last released its earnings results on Thursday, April 30th. The biotechnology company reported ($0.98) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.81) by ($0.17). The firm had revenue of $234.51 million during the quarter, compared to the consensus estimate of $207.59 million. Seattle Genetics had a negative net margin of 32.81% and a negative return on equity of 16.51%. The firm’s revenue was up 20.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.08) EPS. As a group, equities research analysts forecast that Seattle Genetics, Inc. will post -2.8 EPS for the current year.

In related news, CEO Clay B. Siegall sold 24,598 shares of the stock in a transaction on Tuesday, May 5th. The stock was sold at an average price of $166.08, for a total value of $4,085,235.84. Following the transaction, the chief executive officer now owns 761,170 shares of the company’s stock, valued at $126,415,113.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Charles R. Romp sold 5,056 shares of the stock in a transaction on Tuesday, May 5th. The shares were sold at an average price of $166.18, for a total value of $840,206.08. Following the completion of the transaction, the executive vice president now directly owns 54,575 shares in the company, valued at approximately $9,069,273.50. The disclosure for this sale can be found here. In the last three months, insiders sold 691,733 shares of company stock worth $107,475,576. 31.10% of the stock is owned by insiders.

Seattle Genetics Profile

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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