Latest Stocks: Seattle Genetics, Inc. (SGEN) Shares Bought by Xact Kapitalforvaltning AB

Latest Stocks: Seattle Genetics, Inc. (SGEN) Shares Bought by Xact Kapitalforvaltning AB

Xact Kapitalforvaltning AB increased its stake in shares of Seattle Genetics, Inc. (NASDAQ:SGEN) by 9.8% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,742 shares of the biotechnology company’s stock after buying an additional 1,226 shares during the period. Xact Kapitalforvaltning AB’s holdings in Seattle Genetics were worth $864,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in SGEN. Tocqueville Asset Management L.P. raised its position in Seattle Genetics by 49.4% in the third quarter. Tocqueville Asset Management L.P. now owns 37,050 shares of the biotechnology company’s stock worth $2,001,000 after buying an additional 12,250 shares during the last quarter. LMR Partners LLP acquired a new position in Seattle Genetics during the third quarter worth $5,358,000. Hanseatic Management Services Inc. acquired a new position in Seattle Genetics during the third quarter worth $2,007,000. JPMorgan Chase & Co. raised its position in Seattle Genetics by 482.1% in the third quarter. JPMorgan Chase & Co. now owns 20,925 shares of the biotechnology company’s stock valued at $1,130,000 after buying an additional 17,330 shares during the last quarter. Finally, BlackRock Investment Management LLC raised its position in Seattle Genetics by 0.4% in the third quarter. BlackRock Investment Management LLC now owns 57,040 shares of the biotechnology company’s stock valued at $3,081,000 after buying an additional 204 shares during the last quarter. Institutional investors and hedge funds own 98.43% of the company’s stock.

Seattle Genetics, Inc. (NASDAQ SGEN) opened at 65.25 on Tuesday. Seattle Genetics, Inc. has a one year low of $35.93 and a one year high of $75.36. The stock has a 50 day moving average of $64.99 and a 200 day moving average of $63.46. The firm’s market cap is $9.31 billion.

Several research firms have weighed in on SGEN. Cantor Fitzgerald reiterated a “hold” rating and issued a $43.00 target price on shares of Seattle Genetics in a report on Monday, March 6th. HC Wainwright boosted their target price on shares of Seattle Genetics from $65.00 to $75.00 and gave the company a “buy” rating in a report on Friday, April 28th. Cann reissued a “hold” rating on shares of Seattle Genetics in a research note on Thursday, April 27th. Zacks Investment Research raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Finally, CIBC began coverage on shares of Seattle Genetics in a research note on Thursday, March 16th. They issued a “market perform” rating on the stock. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $59.21. In related news, insider Vaughn B. Himes sold 10,000 shares of the company’s stock in a transaction on Friday, March 31st. The stock was sold at an average price of $62.75, for a total value of $627,500.00. Following the completion of the transaction, the insider now directly owns 161,283 shares in the company, valued at $10,120,508.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 14,465 shares of the company’s stock in a transaction on Wednesday, April 5th. The shares were sold at an average price of $62.99, for a total value of $911,150.35. Following the completion of the transaction, the insider now owns 646,858 shares of the company’s stock, valued at $40,745,585.42. The disclosure for this sale can be found here. 33.30% of the stock is owned by insiders.

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