National Planning Corp Cuts Stake in Seattle Genetics, Inc. (SGEN)

National Planning Corp decreased its holdings in Seattle Genetics, Inc. (NASDAQ:SGEN) by 16.6% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 92,555 shares of the biotechnology company’s stock after selling 18,435 shares during the period. Seattle Genetics makes up about 1.1% of National Planning Corp’s holdings, making the stock its 15th biggest holding. National Planning Corp owned approximately 0.06% of Seattle Genetics worth $5,363,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Aperio Group LLC boosted its position in Seattle Genetics by 0.3% during the 2nd quarter. Aperio Group LLC now owns 31,693 shares of the biotechnology company’s stock valued at $1,640,000 after buying an additional 91 shares during the period. The Manufacturers Life Insurance Company boosted its position in Seattle Genetics by 6.6% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 4,824 shares of the biotechnology company’s stock valued at $250,000 after buying an additional 299 shares during the period. Prudential Financial Inc. boosted its position in Seattle Genetics by 6.8% during the 2nd quarter. Prudential Financial Inc. now owns 6,291 shares of the biotechnology company’s stock valued at $325,000 after buying an additional 400 shares during the period. Tredje AP fonden boosted its position in Seattle Genetics by 3.7% during the 2nd quarter. Tredje AP fonden now owns 15,470 shares of the biotechnology company’s stock valued at $800,000 after buying an additional 550 shares during the period. Finally, Alliancebernstein L.P. boosted its position in Seattle Genetics by 1.1% during the 2nd quarter. Alliancebernstein L.P. now owns 57,241 shares of the biotechnology company’s stock valued at $2,962,000 after buying an additional 603 shares during the period. 98.96% of the stock is owned by institutional investors.

Seattle Genetics, Inc. (SGEN) opened at $59.45 on Monday. Seattle Genetics, Inc. has a 12 month low of $45.31 and a 12 month high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last issued its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share (EPS) 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 32.41%. Seattle Genetics’s quarterly revenue was up 27.3% compared to the same quarter last year. During the same period last year, the business earned ($0.23) EPS. equities research analysts predict that Seattle Genetics, Inc. will post -0.93 earnings per share for the current fiscal year.

Several equities research analysts have weighed in on SGEN shares. Zacks Investment Research raised shares of Seattle Genetics from a “hold” rating to a “buy” rating and set a $64.00 price target for the company in a research report on Tuesday, October 10th. Jefferies Group reissued a “buy” rating and set a $53.00 price target on shares of Seattle Genetics in a research report on Thursday, September 14th. Guggenheim reissued a “buy” rating and set a $72.00 price target on shares of Seattle Genetics in a research report on Monday, October 23rd. HC Wainwright reissued a “buy” rating and set a $75.00 price target on shares of Seattle Genetics in a research report on Friday, October 27th. Finally, TheStreet raised shares of Seattle Genetics from a “d” rating to a “c” rating in a research report on Thursday, November 16th. Two research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $63.53.

In related news, CFO Todd E. Simpson sold 9,638 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $52.00, for a total value of $501,176.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Clay B. Siegall sold 18,832 shares of the stock in a transaction dated Wednesday, October 11th. The stock was sold at an average price of $61.18, for a total transaction of $1,152,141.76. The disclosure for this sale can be found here. Over the last quarter, insiders sold 168,143 shares of company stock valued at $9,712,824. 34.70% of the stock is owned by company insiders.

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Seattle Genetics 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).

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

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