Seattle Genetics, Inc. (SGEN) Shares Sold by Pictet Asset Management Ltd.

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.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, October 25th. The biotechnology company reported ($0.42) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.27) by ($0.15). The business had revenue of $169.42 million during the quarter, compared to analyst estimates of $164.75 million. Seattle Genetics had a negative net margin of 26.58% and a negative return on equity of 19.13%. On average, sell-side analysts expect that Seattle Genetics, Inc. will post -1.44 EPS for the current fiscal year.

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.

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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.

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

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