Tekla Capital Management LLC purchased a new position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 223,700 shares of the biotechnology company’s stock, valued at approximately $11,574,000. Tekla Capital Management LLC owned 0.16% of Seattle Genetics as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also made changes to their positions in SGEN. BlackRock Inc. boosted its position in Seattle Genetics by 6,338.2% during the 1st quarter. BlackRock Inc. now owns 7,267,660 shares of the biotechnology company’s stock worth $456,845,000 after acquiring an additional 7,154,776 shares during the period. Point72 Asset Management L.P. acquired a new position in Seattle Genetics during the 1st quarter worth $29,521,000. Janus Capital Management LLC boosted its position in Seattle Genetics by 321.2% during the 1st quarter. Janus Capital Management LLC now owns 527,400 shares of the biotechnology company’s stock worth $33,153,000 after acquiring an additional 402,200 shares during the period. Marshall Wace North America L.P. boosted its position in Seattle Genetics by 1,605.7% during the 2nd quarter. Marshall Wace North America L.P. now owns 374,220 shares of the biotechnology company’s stock worth $19,460,000 after acquiring an additional 352,280 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its position in Seattle Genetics by 61.1% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 753,152 shares of the biotechnology company’s stock worth $38,968,000 after acquiring an additional 285,663 shares during the period. Institutional investors own 97.63% of the company’s stock.

A number of research analysts have issued reports on SGEN shares. Needham & Company LLC reiterated a “buy” rating and set a $72.00 price target on shares of Seattle Genetics in a research report on Tuesday, June 20th. Jefferies Group LLC reiterated a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a research report on Thursday, July 27th. Cantor Fitzgerald set a $43.00 price target on Seattle Genetics and gave the stock a “hold” rating in a research report on Monday, June 19th. Cowen and Company reiterated a “hold” rating and set a $54.00 price target (down previously from $61.00) on shares of Seattle Genetics in a research report on Monday, June 19th. Finally, Cann reiterated a “hold” rating on shares of Seattle Genetics in a research report on Monday, June 19th. Three analysts have rated the stock with a sell rating, eleven have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company’s stock. Seattle Genetics presently has a consensus rating of “Hold” and a consensus price target of $61.77.

In other Seattle Genetics news, CEO Clay B. Siegall sold 10,423 shares of the stock in a transaction on Wednesday, July 5th. The stock was sold at an average price of $51.98, for a total value of $541,787.54. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction on 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. Insiders sold a total of 175,352 shares of company stock worth $8,884,096 over the last quarter. Corporate insiders own 34.70% of the company’s stock.

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Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) traded up 1.44% during midday trading on Thursday, hitting $54.14. The stock had a trading volume of 191,228 shares. Seattle Genetics, Inc. has a 52 week low of $45.31 and a 52 week high of $75.36. The stock has a 50 day moving average price of $49.71 and a 200-day moving average price of $58.82. The stock’s market capitalization is $7.74 billion.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.42) by $0.03. The firm had revenue of $108.20 million for the quarter, compared to analyst estimates of $105.92 million. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The business’s quarterly revenue was up 13.4% compared to the same quarter last year. During the same period last year, the company earned ($0.23) EPS. Equities research analysts anticipate that Seattle Genetics, Inc. will post ($1.68) earnings per share for the current year.

Seattle Genetics 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).

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

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