Advisors Asset Management Inc. raised its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 8.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,663 shares of the biotechnology company’s stock after buying an additional 1,012 shares during the period. Advisors Asset Management Inc.’s holdings in Seattle Genetics were worth $689,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of SGEN. Quantbot Technologies LP increased its stake in shares of Seattle Genetics by 116.5% in the third quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after purchasing an additional 1,428 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Seattle Genetics by 3.1% in the third quarter. Bank of New York Mellon Corp now owns 439,432 shares of the biotechnology company’s stock worth $23,910,000 after purchasing an additional 13,303 shares during the period. Toronto Dominion Bank increased its stake in shares of Seattle Genetics by 244.4% in the third quarter. Toronto Dominion Bank now owns 4,219 shares of the biotechnology company’s stock worth $230,000 after purchasing an additional 2,994 shares during the period. New York State Common Retirement Fund increased its stake in shares of Seattle Genetics by 1.5% in the third quarter. New York State Common Retirement Fund now owns 265,358 shares of the biotechnology company’s stock worth $14,438,000 after purchasing an additional 4,000 shares during the period. Finally, Grandfield & Dodd LLC increased its stake in shares of Seattle Genetics by 10.8% in the third quarter. Grandfield & Dodd LLC now owns 11,086 shares of the biotechnology company’s stock worth $603,000 after purchasing an additional 1,085 shares during the period. Institutional investors own 98.96% of the company’s stock.

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $59.45 on Monday. Seattle Genetics, Inc. has a 1-year low of $45.31 and a 1-year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last released its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.23. The company had revenue of $135.29 million for the quarter, compared to the consensus estimate of $112.76 million. Seattle Genetics had a negative return on equity of 32.41% and a negative net margin of 26.53%. The company’s quarterly revenue was up 27.3% on a year-over-year basis. During the same period in the previous year, the business earned ($0.23) earnings per share. equities research analysts forecast that Seattle Genetics, Inc. will post -0.93 EPS for the current year.

SGEN has been the topic of a number of recent analyst reports. Jefferies Group reiterated a “buy” rating and issued a $53.00 price objective on shares of Seattle Genetics in a research note on Thursday, October 26th. Cann reiterated a “hold” rating on shares of Seattle Genetics in a research note on Tuesday, August 29th. Zacks Investment Research upgraded Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 price objective on the stock in a research note on Tuesday, October 10th. Morgan Stanley lifted their price objective on Seattle Genetics from $64.00 to $69.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 31st. Finally, Royal Bank Of Canada lifted their price objective on Seattle Genetics from $68.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, November 13th. Two investment analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $63.53.

In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of Seattle Genetics stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $53.49, for a total transaction of $1,007,323.68. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Todd E. Simpson sold 39,385 shares of Seattle Genetics stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $60.91, for a total value of $2,398,940.35. The disclosure for this sale can be found here. Insiders have sold 168,143 shares of company stock worth $9,712,824 over the last ninety days. Company insiders own 34.70% of the company’s stock.

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About Seattle Genetics

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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