Pictet Asset Management Ltd. trimmed its stake in Seattle Genetics, Inc. (NASDAQ:SGEN) by 37.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 413,863 shares of the biotechnology company’s stock after selling 249,667 shares during the period. Pictet Asset Management Ltd.’s holdings in Seattle Genetics were worth $31,917,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in SGEN. Harvest Fund Management Co. Ltd purchased a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $104,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new stake in shares of Seattle Genetics in the 2nd quarter valued at approximately $139,000. Hollencrest Capital Management purchased a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $216,000. Crossmark Global Holdings Inc. purchased a new stake in shares of Seattle Genetics in the 2nd quarter valued at approximately $223,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Seattle Genetics in the 3rd quarter valued at approximately $225,000.
Shares of SGEN stock opened at $62.58 on Friday. Seattle Genetics, Inc. has a fifty-two week low of $47.75 and a fifty-two week high of $84.37.
A number of equities research analysts have recently issued reports on SGEN shares. ValuEngine downgraded shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research note on Saturday, October 27th. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a research note on Thursday, August 23rd. Needham & Company LLC reduced their price target on shares of Seattle Genetics to $73.00 and set a “buy” rating on the stock in a research note on Friday, October 26th. Cann reissued a “hold” rating on shares of Seattle Genetics in a research note on Monday, October 1st. Finally, BidaskClub downgraded shares of Seattle Genetics from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $77.77.
In related news, EVP Darren S. Cline sold 7,000 shares of Seattle Genetics stock in a transaction that occurred on Thursday, November 29th. The shares were sold at an average price of $62.88, for a total value of $440,160.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Clay B. Siegall sold 20,148 shares of Seattle Genetics stock in a transaction that occurred on Monday, October 8th. The shares were sold at an average price of $77.39, for a total transaction of $1,559,253.72. The disclosure for this sale can be found here. Insiders sold 76,611 shares of company stock valued at $5,408,630 in the last 90 days. Company insiders own 33.80% of the company’s stock.
COPYRIGHT VIOLATION NOTICE: “Seattle Genetics, Inc. (SGEN) Shares Sold by Pictet Asset Management Ltd.” was first reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece of content on another domain, it was stolen and republished in violation of international copyright & trademark legislation. The original version of this piece of content can be accessed at https://www.com-unik.info/2018/12/02/seattle-genetics-inc-sgen-shares-sold-by-pictet-asset-management-ltd.html.
Seattle Genetics Company Profile
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.
Featured Story: Is a Roth IRA right for you?
Want to see what other hedge funds are holding SGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seattle Genetics, Inc. (NASDAQ:SGEN).
Receive News & Ratings for Seattle Genetics Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seattle Genetics and related companies with MarketBeat.com's FREE daily email newsletter.