Prudential Financial Inc. grew its position in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 6.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,291 shares of the biotechnology company’s stock after acquiring an additional 400 shares during the quarter. Prudential Financial Inc.’s holdings in Seattle Genetics were worth $325,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently bought and sold shares of the company. First Manhattan Co. boosted its holdings in Seattle Genetics by 31.3% during the 2nd quarter. First Manhattan Co. now owns 3,150 shares of the biotechnology company’s stock worth $162,000 after acquiring an additional 750 shares during the last quarter. Oppenheimer Asset Management Inc. bought a new stake in shares of Seattle Genetics during the 1st quarter worth $240,000. Meeder Asset Management Inc. raised its stake in shares of Seattle Genetics by 1,580.9% during the 2nd quarter. Meeder Asset Management Inc. now owns 3,950 shares of the biotechnology company’s stock worth $205,000 after purchasing an additional 3,715 shares during the period. PNC Financial Services Group Inc. raised its stake in shares of Seattle Genetics by 27.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 906 shares during the period. Finally, M&T Bank Corp raised its stake in shares of Seattle Genetics by 7.3% during the 1st quarter. M&T Bank Corp now owns 4,376 shares of the biotechnology company’s stock worth $276,000 after purchasing an additional 297 shares during the period. 97.63% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Seattle Genetics, Inc. (NASDAQ SGEN) opened at 61.77 on Friday. Seattle Genetics, Inc. has a 52 week low of $45.31 and a 52 week high of $75.36. The company has a 50-day moving average price of $53.86 and a 200-day moving average price of $57.70. The company’s market capitalization is $8.83 billion.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) EPS for the quarter, topping the consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative return on equity of 32.87% and a negative net margin of 47.38%. The firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. During the same quarter last year, the company earned ($0.23) earnings per share. The business’s revenue for the quarter was up 13.4% compared to the same quarter last year. Analysts predict that Seattle Genetics, Inc. will post ($1.69) earnings per share for the current year.

In other news, insider Clay B. Siegall sold 10,413 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $48.91, for a total value of $509,299.83. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CMO Jonathan G. Drachman sold 10,000 shares of the firm’s stock in a transaction dated Thursday, July 27th. The stock was 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 164,929 shares of company stock worth $8,342,308 in the last ninety days. Corporate insiders own 34.70% of the company’s stock.

A number of research firms have recently commented on SGEN. Cann reiterated a “hold” rating on shares of Seattle Genetics in a research note on Monday, June 19th. Cowen and Company reiterated a “hold” rating and set a $54.00 target price (down from $61.00) on shares of Seattle Genetics in a research note on Monday, June 19th. Cantor Fitzgerald set a $43.00 target price on Seattle Genetics and gave the stock a “hold” rating in a research note on Monday, June 19th. Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of Seattle Genetics in a research note on Thursday, June 15th. Finally, Barclays PLC reiterated a “hold” rating on shares of Seattle Genetics in a research note on Friday, June 23rd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating, eight have given a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $61.00.

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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).

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

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