Raymond James Financial Services Advisors Inc. reduced its holdings in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 8.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,675 shares of the biotechnology company’s stock after selling 431 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Seattle Genetics were worth $242,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SGEN. Janus Henderson Group PLC grew its stake in Seattle Genetics by 8,672.2% during the second quarter. Janus Henderson Group PLC now owns 704,673 shares of the biotechnology company’s stock worth $36,460,000 after buying an additional 696,640 shares during the period. Capital International Investors boosted its stake in shares of Seattle Genetics by 34.3% in the second quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock valued at $140,970,000 after purchasing an additional 695,986 shares during the period. Marshall Wace North America L.P. boosted its stake in shares of Seattle Genetics by 1,605.7% in the second quarter. Marshall Wace North America L.P. now owns 374,220 shares of the biotechnology company’s stock valued at $19,460,000 after purchasing an additional 352,280 shares during the period. Matrix Capital Management Company LP boosted its stake in shares of Seattle Genetics by 18.8% in the second quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock valued at $109,585,000 after purchasing an additional 335,000 shares during the period. Finally, TIAA CREF Investment Management LLC boosted its stake in shares of Seattle Genetics by 61.1% in the second quarter. TIAA CREF Investment Management LLC now owns 753,152 shares of the biotechnology company’s stock valued at $38,968,000 after purchasing an additional 285,663 shares during the period. Institutional investors own 97.48% of the company’s stock.

In other Seattle Genetics news, CMO Jonathan G. Drachman sold 10,000 shares of the stock in a transaction on Thursday, August 24th. The shares were sold at an average price of $47.54, for a total transaction of $475,400.00. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CFO Todd E. Simpson sold 39,385 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total transaction of $2,398,940.35. The disclosure for this sale can be found here. Insiders have sold 196,733 shares of company stock worth $10,543,551 over the last three months. 34.70% of the stock is owned by corporate insiders.

Several research analysts have recently weighed in on the stock. Cantor Fitzgerald set a $46.00 target price on shares of Seattle Genetics and gave the company a “hold” rating in a research note on Wednesday, August 16th. Cowen and Company restated a “hold” rating on shares of Seattle Genetics in a research note on Sunday, October 29th. Zacks Investment Research downgraded shares of Seattle Genetics from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. BidaskClub downgraded shares of Seattle Genetics from a “sell” rating to a “strong sell” rating in a research note on Wednesday, August 2nd. Finally, Morgan Stanley upped their target price on shares of Seattle Genetics from $64.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, October 31st. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. Seattle Genetics currently has a consensus rating of “Hold” and a consensus price target of $62.88.

Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $57.96 on Friday. Seattle Genetics, Inc. has a twelve month low of $45.31 and a twelve month high of $73.99.

Seattle Genetics (NASDAQ:SGEN) last issued its earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.42) by $0.23. The company had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The firm’s revenue was up 27.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.23) earnings per share. sell-side analysts anticipate that Seattle Genetics, Inc. will post -1.01 earnings per share for the current year.

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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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