Shell Asset Management Co. increased its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 19.4% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 7,364 shares of the biotechnology company’s stock after purchasing an additional 1,198 shares during the period. Shell Asset Management Co.’s holdings in Seattle Genetics were worth $568,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Harvest Fund Management Co. Ltd purchased a new position in Seattle Genetics in the third quarter worth about $104,000. OLD Mutual Customised Solutions Proprietary Ltd. purchased a new position in shares of Seattle Genetics during the 2nd quarter valued at about $139,000. Hollencrest Capital Management purchased a new position in shares of Seattle Genetics during the 3rd quarter valued at about $216,000. Fox Run Management L.L.C. purchased a new position in shares of Seattle Genetics during the 3rd quarter valued at about $225,000. Finally, Crossmark Global Holdings Inc. purchased a new position in shares of Seattle Genetics during the 2nd quarter valued at about $223,000.
NASDAQ:SGEN opened at $59.99 on Friday. Seattle Genetics, Inc. has a 1 year low of $47.75 and a 1 year high of $84.37.
In other Seattle Genetics news, insider Vaughn B. Himes sold 5,000 shares of Seattle Genetics stock in a transaction that occurred on Friday, November 30th. The stock was sold at an average price of $62.14, for a total value of $310,700.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall sold 20,148 shares of Seattle Genetics stock in a transaction that occurred on Monday, October 8th. The stock was sold at an average price of $77.39, for a total value of $1,559,253.72. The disclosure for this sale can be found here. In the last ninety days, insiders sold 76,611 shares of company stock worth $5,334,380. Corporate insiders own 33.80% of the company’s stock.
A number of research analysts recently commented on the company. ValuEngine cut Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Saturday, October 27th. Zacks Investment Research raised Seattle Genetics from a “hold” rating to a “buy” rating and set a $85.00 price target on the stock in a report on Thursday, August 23rd. Needham & Company LLC lowered their price target on Seattle Genetics to $73.00 and set a “buy” rating on the stock in a report on Friday, October 26th. Cann reissued a “hold” rating on shares of Seattle Genetics in a report on Monday, October 1st. Finally, BidaskClub cut Seattle Genetics from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $77.77.
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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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