Envestnet Asset Management Inc. Has $153,000 Holdings in Seattle Genetics (SGEN)

Envestnet Asset Management Inc. grew its stake in Seattle Genetics (NASDAQ:SGEN) by 82.6% in the fourth quarter, Holdings Channel reports. The institutional investor owned 2,861 shares of the biotechnology company’s stock after buying an additional 1,294 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Seattle Genetics were worth $153,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in SGEN. Goldman Sachs Group Inc. lifted its position in shares of Seattle Genetics by 92.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,469,888 shares of the biotechnology company’s stock worth $132,139,000 after buying an additional 1,184,491 shares during the last quarter. Millennium Management LLC lifted its position in shares of Seattle Genetics by 5,032.1% in the fourth quarter. Millennium Management LLC now owns 334,921 shares of the biotechnology company’s stock worth $17,918,000 after buying an additional 328,395 shares during the last quarter. BlackRock Inc. lifted its position in shares of Seattle Genetics by 2.9% in the fourth quarter. BlackRock Inc. now owns 7,756,494 shares of the biotechnology company’s stock worth $414,975,000 after buying an additional 220,955 shares during the last quarter. Two Sigma Investments LP acquired a new stake in shares of Seattle Genetics in the fourth quarter worth about $10,282,000. Finally, UBS Asset Management Americas Inc. lifted its position in shares of Seattle Genetics by 31.1% in the fourth quarter. UBS Asset Management Americas Inc. now owns 726,083 shares of the biotechnology company’s stock worth $38,845,000 after buying an additional 172,224 shares during the last quarter. 92.99% of the stock is owned by institutional investors.

NASDAQ SGEN opened at $49.57 on Friday. The stock has a market cap of $8,180.03, a P/E ratio of -56.33 and a beta of 1.84. Seattle Genetics has a twelve month low of $45.31 and a twelve month high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings results on Tuesday, February 6th. The biotechnology company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.43) by $0.02. The firm had revenue of $129.61 million during the quarter, compared to analysts’ expectations of $123.99 million. Seattle Genetics had a negative return on equity of 32.49% and a negative net margin of 26.03%. The company’s revenue for the quarter was up 23.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.39) EPS. analysts forecast that Seattle Genetics will post -1.57 earnings per share for the current fiscal year.

A number of analysts have weighed in on SGEN shares. Cantor Fitzgerald set a $50.00 price target on Seattle Genetics and gave the stock a “hold” rating in a research report on Monday, January 8th. JPMorgan Chase reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Tuesday, January 9th. BidaskClub cut Seattle Genetics from a “hold” rating to a “sell” rating in a research report on Saturday, January 13th. Barclays started coverage on Seattle Genetics in a research report on Tuesday, March 20th. They set an “overweight” rating and a $74.00 price objective for the company. Finally, Cann reissued a “hold” rating on shares of Seattle Genetics in a research report on Tuesday, March 20th. One analyst has rated the stock with a sell rating, nine have given a hold rating and ten have given a buy rating to the stock. Seattle Genetics currently has an average rating of “Hold” and a consensus target price of $64.00.

In other Seattle Genetics news, insider Clay B. Siegall sold 18,832 shares of the company’s stock in a transaction that occurred on Monday, April 9th. The stock was sold at an average price of $50.52, for a total value of $951,392.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Bros. Advisors Lp Baker purchased 3,846,153 shares of the business’s stock in a transaction on Thursday, February 1st. The stock was purchased at an average cost of $52.00 per share, with a total value of $199,999,956.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 71,953 shares of company stock valued at $3,810,778. Insiders own 33.80% of the company’s stock.

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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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