Fairfield Bush & CO. reduced its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 21.7% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 12,650 shares of the biotechnology company’s stock after selling 3,500 shares during the quarter. Fairfield Bush & CO.’s holdings in Seattle Genetics were worth $840,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. OLD Mutual Customised Solutions Proprietary Ltd. acquired a new stake in shares of Seattle Genetics in the second quarter valued at $139,000. Rothschild Investment Corp IL acquired a new stake in shares of Seattle Genetics in the second quarter valued at $211,000. Crossmark Global Holdings Inc. acquired a new stake in shares of Seattle Genetics in the second quarter valued at $223,000. Atria Investments LLC acquired a new stake in shares of Seattle Genetics in the second quarter valued at $229,000. Finally, Strs Ohio increased its stake in shares of Seattle Genetics by 210.6% in the second quarter. Strs Ohio now owns 3,715 shares of the biotechnology company’s stock valued at $246,000 after buying an additional 2,519 shares in the last quarter.

Shares of SGEN stock opened at $78.16 on Monday. The stock has a market capitalization of $12.24 billion, a P/E ratio of -88.82 and a beta of 1.80. Seattle Genetics, Inc. has a 12 month low of $47.75 and a 12 month high of $78.82.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 26th. The biotechnology company reported $0.47 EPS for the quarter, topping the Zacks’ consensus estimate of ($0.34) by $0.81. The firm had revenue of $170.20 million during the quarter, compared to analyst estimates of $141.07 million. Seattle Genetics had a negative return on equity of 21.01% and a negative net margin of 7.75%. The company’s revenue was up 57.3% on a year-over-year basis. During the same period last year, the company earned ($0.39) earnings per share. analysts anticipate that Seattle Genetics, Inc. will post -1.34 EPS for the current year.

In other Seattle Genetics news, EVP Darren S. Cline sold 4,784 shares of the firm’s stock in a transaction dated Monday, August 27th. The stock was sold at an average price of $74.23, for a total transaction of $355,116.32. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Vaughn B. Himes sold 5,000 shares of the firm’s stock in a transaction dated Friday, September 7th. The stock was sold at an average price of $76.99, for a total value of $384,950.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 116,318 shares of company stock valued at $8,503,437. Corporate insiders own 33.80% of the company’s stock.

A number of brokerages have recently weighed in on SGEN. Needham & Company LLC raised their target price on Seattle Genetics from $74.00 to $79.00 and gave the company a “buy” rating in a research note on Monday, July 30th. ValuEngine upgraded Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Tuesday, June 12th. BidaskClub upgraded Seattle Genetics from a “hold” rating to a “buy” rating in a research note on Friday, June 8th. HC Wainwright restated a “buy” rating and issued a $98.00 target price (up from $77.00) on shares of Seattle Genetics in a research note on Friday, July 27th. Finally, Royal Bank of Canada reiterated a “buy” rating and issued a $75.00 price objective on shares of Seattle Genetics in a research report on Friday, July 27th. Seven analysts have rated the stock with a hold rating, ten have assigned a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $71.64.

About Seattle Genetics

Seattle Genetics, Inc, a biotechnology company, focuses on the development and commercialization of targeted therapies for the treatment of cancer worldwide. It markets ADCETRIS, an antibody-drug conjugate for the treatment of relapsed Hodgkin lymphoma and relapsed systemic anaplastic large cell lymphoma.

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

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