Profund Advisors LLC Buys 14,676 Shares of Seattle Genetics, Inc. (NASDAQ:SGEN)

Profund Advisors LLC increased its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 56.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,712 shares of the biotechnology company’s stock after acquiring an additional 14,676 shares during the quarter. Profund Advisors LLC’s holdings in Seattle Genetics were worth $4,652,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. FMR LLC boosted its stake in Seattle Genetics by 116.1% during the fourth quarter. FMR LLC now owns 1,511,717 shares of the biotechnology company’s stock worth $172,729,000 after buying an additional 812,103 shares in the last quarter. Marshall Wace North America L.P. acquired a new stake in Seattle Genetics during the fourth quarter worth $80,060,000. Eagle Asset Management Inc. acquired a new stake in Seattle Genetics during the fourth quarter worth $63,384,000. Boxer Capital LLC acquired a new stake in Seattle Genetics during the fourth quarter worth $57,130,000. Finally, Lord Abbett & CO. LLC acquired a new stake in Seattle Genetics during the fourth quarter worth $30,611,000. 94.63% of the stock is currently owned by institutional investors and hedge funds.

NASDAQ:SGEN traded up $10.68 on Thursday, hitting $116.14. 1,326,499 shares of the stock were exchanged, compared to its average volume of 1,185,469. The stock has a market capitalization of $17.55 billion, a price-to-earnings ratio of -118.51 and a beta of 1.72. Seattle Genetics, Inc. has a 52 week low of $62.90 and a 52 week high of $124.32. The company’s 50-day moving average price is $111.06 and its 200 day moving average price is $104.34.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, February 6th. The biotechnology company reported $0.15 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.45) by $0.60. The firm had revenue of $289.80 million during the quarter, compared to analysts’ expectations of $219.21 million. Seattle Genetics had a negative return on equity of 13.99% and a negative net margin of 17.31%. The company’s quarterly revenue was up 66.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.75) EPS. Sell-side analysts predict that Seattle Genetics, Inc. will post -2.95 EPS for the current year.

A number of equities research analysts have weighed in on the stock. JPMorgan Chase & Co. reiterated a “buy” rating on shares of Seattle Genetics in a research note on Tuesday, February 11th. ValuEngine downgraded shares of Seattle Genetics from a “buy” rating to a “hold” rating in a research report on Tuesday, December 3rd. HC Wainwright reiterated a “buy” rating and set a $150.00 price target (up previously from $140.00) on shares of Seattle Genetics in a research report on Wednesday, February 12th. Bank of America started coverage on shares of Seattle Genetics in a research report on Tuesday, December 3rd. They set a “neutral” rating and a $125.00 price target on the stock. Finally, Stifel Nicolaus upped their price target on shares of Seattle Genetics from $87.00 to $101.00 in a research report on Thursday, December 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $119.33.

In other news, insider Roger D. Dansey sold 350 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $116.33, for a total value of $40,715.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Clay B. Siegall sold 28,472 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $114.61, for a total value of $3,263,175.92. The disclosure for this sale can be found here. Insiders have sold a total of 93,766 shares of company stock valued at $10,527,157 over the last three months. Company insiders own 33.80% of the company’s stock.

Seattle Genetics Profile

Seattle Genetics, Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas.

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

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