Baillie Gifford & Co. Decreases Holdings in Seattle Genetics, Inc. (SGEN)

Baillie Gifford & Co. trimmed its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 2.7% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,411,197 shares of the biotechnology company’s stock after selling 428,124 shares during the quarter. Seattle Genetics comprises approximately 1.1% of Baillie Gifford & Co.’s portfolio, making the stock its 19th largest holding. Baillie Gifford & Co. owned approximately 10.78% of Seattle Genetics worth $838,523,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in SGEN. Ameriprise Financial Inc. lifted its stake in Seattle Genetics by 157.4% in the 1st quarter. Ameriprise Financial Inc. now owns 59,125 shares of the biotechnology company’s stock worth $3,717,000 after purchasing an additional 36,157 shares in the last quarter. Wellington Management Group LLP lifted its stake in Seattle Genetics by 55.5% in the 1st quarter. Wellington Management Group LLP now owns 82,463 shares of the biotechnology company’s stock worth $5,184,000 after purchasing an additional 29,420 shares in the last quarter. Teachers Advisors LLC lifted its stake in Seattle Genetics by 24.0% in the 1st quarter. Teachers Advisors LLC now owns 356,948 shares of the biotechnology company’s stock worth $22,438,000 after purchasing an additional 69,140 shares in the last quarter. PNC Financial Services Group Inc. lifted its stake in Seattle Genetics by 27.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,171 shares of the biotechnology company’s stock worth $262,000 after purchasing an additional 906 shares in the last quarter. Finally, Morgan Stanley lifted its stake in Seattle Genetics by 10.9% in the 1st quarter. Morgan Stanley now owns 157,334 shares of the biotechnology company’s stock worth $9,890,000 after purchasing an additional 15,458 shares in the last quarter. 97.13% of the stock is currently owned by institutional investors and hedge funds.

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Shares of Seattle Genetics, Inc. (NASDAQ:SGEN) traded down 0.55% during trading on Wednesday, hitting $60.97. 238,356 shares of the company were exchanged. The company’s 50-day moving average price is $58.02 and its 200 day moving average price is $57.57. Seattle Genetics, Inc. has a 12 month low of $45.31 and a 12 month high of $75.36. The stock’s market cap is $8.72 billion.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.42) by $0.23. The company had revenue of $135.29 million during the quarter, compared to analyst estimates of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 33.16%. The firm’s revenue for the quarter was up 27.3% compared to the same quarter last year. During the same period last year, the business earned ($0.23) EPS. On average, equities analysts predict that Seattle Genetics, Inc. will post ($0.97) earnings per share for the current fiscal year.

Several research firms have recently commented on SGEN. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a research report on Tuesday. Morgan Stanley lifted their price target on shares of Seattle Genetics from $64.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday. J P Morgan Chase & Co lifted their price target on shares of Seattle Genetics from $55.00 to $60.00 and gave the company a “neutral” rating in a research report on Monday. Cowen and Company reaffirmed a “hold” rating on shares of Seattle Genetics in a research report on Sunday. Finally, SunTrust Banks, Inc. set a $52.00 price target on shares of Seattle Genetics and gave the company a “hold” rating in a research report on Friday, October 27th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Seattle Genetics currently has a consensus rating of “Hold” and an average target price of $63.00.

In other news, CEO Clay B. Siegall sold 25,506 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $47.89, for a total value of $1,221,482.34. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CFO Todd E. Simpson sold 4,937 shares of the firm’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $47.89, for a total transaction of $236,432.93. The disclosure for this sale can be found here. Over the last three months, insiders have sold 173,761 shares of company stock valued at $8,949,050. 34.70% of the stock is owned by company insiders.

Seattle Genetics Company Profile

Seattle Genetics, Inc is a biotechnology company focused on the development and commercialization of therapies for the treatment of cancer. The Company is engaged in the development and sale of pharmaceutical products on its own behalf or in collaboration with others. The Company’s marketed product ADCETRIS, or brentuximab vedotin, is an antibody-drug conjugate (ADC).

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

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