Seattle Genetics, Inc. (SGEN) Shares Bought by TIAA CREF Investment Management LLC

TIAA CREF Investment Management LLC increased its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 61.1% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 753,152 shares of the biotechnology company’s stock after buying an additional 285,663 shares during the period. TIAA CREF Investment Management LLC owned 0.53% of Seattle Genetics worth $38,968,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in SGEN. Bank of Montreal Can boosted its holdings in shares of Seattle Genetics by 280.2% during the 1st quarter. Bank of Montreal Can now owns 7,235 shares of the biotechnology company’s stock worth $454,000 after buying an additional 5,332 shares during the period. Nationwide Fund Advisors bought a new stake in shares of Seattle Genetics during the 1st quarter worth about $1,402,000. Great West Life Assurance Co. Can boosted its holdings in shares of Seattle Genetics by 1.1% during the 1st quarter. Great West Life Assurance Co. Can now owns 41,777 shares of the biotechnology company’s stock worth $2,624,000 after buying an additional 437 shares during the period. Advisors Asset Management Inc. boosted its holdings in shares of Seattle Genetics by 22.3% during the 1st quarter. Advisors Asset Management Inc. now owns 10,633 shares of the biotechnology company’s stock worth $668,000 after buying an additional 1,940 shares during the period. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of Seattle Genetics by 562.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 2,650 shares of the biotechnology company’s stock worth $167,000 after buying an additional 2,250 shares during the period. 97.63% of the stock is owned by institutional investors and hedge funds.

Seattle Genetics, Inc. (NASDAQ:SGEN) opened at 52.84 on Thursday. The firm’s market capitalization is $7.56 billion. Seattle Genetics, Inc. has a 12 month low of $45.31 and a 12 month high of $75.36. The stock has a 50 day moving average of $49.71 and a 200 day moving average of $58.82.

Seattle Genetics (NASDAQ:SGEN) last announced its earnings results on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.42) by $0.03. The business had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. Seattle Genetics’s quarterly revenue was up 13.4% on a year-over-year basis. During the same period last year, the firm posted ($0.23) earnings per share. On average, equities analysts predict that Seattle Genetics, Inc. will post ($1.68) earnings per share for the current fiscal year.

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In related news, CEO Clay B. Siegall sold 10,423 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $51.98, for a total value of $541,787.54. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Vaughn B. Himes sold 6,377 shares of the firm’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $47.89, for a total transaction of $305,394.53. The disclosure for this sale can be found here. Insiders sold 175,352 shares of company stock worth $8,884,096 over the last ninety days. 34.70% of the stock is currently owned by insiders.

Several analysts recently commented on SGEN shares. Needham & Company LLC reaffirmed a “buy” rating and set a $72.00 target price on shares of Seattle Genetics in a report on Tuesday, June 20th. Jefferies Group LLC reaffirmed a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a report on Thursday, July 27th. Cantor Fitzgerald set a $43.00 target price on shares of Seattle Genetics and gave the stock a “hold” rating in a report on Monday, June 19th. Cowen and Company reaffirmed a “hold” rating and set a $54.00 target price (down previously from $61.00) on shares of Seattle Genetics in a report on Monday, June 19th. Finally, Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Monday, June 19th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $61.77.

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).

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

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