National Planning Corp reduced its stake in Seattle Genetics, Inc. (NASDAQ:SGEN) by 0.8% during the second quarter, Holdings Channel reports. The firm owned 110,990 shares of the biotechnology company’s stock after selling 950 shares during the period. National Planning Corp’s holdings in Seattle Genetics were worth $5,795,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of SGEN. Vanguard Group Inc. raised its position in shares of Seattle Genetics by 3.9% in the first quarter. Vanguard Group Inc. now owns 7,362,687 shares of the biotechnology company’s stock valued at $462,818,000 after buying an additional 275,044 shares during the last quarter. BlackRock Inc. raised its position in shares of Seattle Genetics by 6,338.2% in the first quarter. BlackRock Inc. now owns 7,267,660 shares of the biotechnology company’s stock valued at $456,845,000 after buying an additional 7,154,776 shares during the last quarter. State Street Corp raised its position in shares of Seattle Genetics by 10.9% in the first quarter. State Street Corp now owns 2,845,120 shares of the biotechnology company’s stock valued at $178,847,000 after buying an additional 279,079 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Seattle Genetics by 8.3% in the first quarter. Geode Capital Management LLC now owns 795,339 shares of the biotechnology company’s stock valued at $49,976,000 after buying an additional 60,696 shares during the last quarter. Finally, Pictet Asset Management Ltd. raised its position in shares of Seattle Genetics by 48.4% in the second quarter. Pictet Asset Management Ltd. now owns 706,316 shares of the biotechnology company’s stock valued at $45,190,000 after buying an additional 230,492 shares during the last quarter. Institutional investors and hedge funds own 97.91% of the company’s stock.

Shares of Seattle Genetics, Inc. (SGEN) opened at 48.72 on Thursday. The stock’s market cap is $6.97 billion. The stock’s 50 day moving average is $53.13 and its 200-day moving average is $61.37. Seattle Genetics, Inc. has a one year low of $42.58 and a one year high of $75.36.

Seattle Genetics (NASDAQ:SGEN) last posted its quarterly earnings data on Thursday, July 27th. The biotechnology company reported ($0.39) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.42) by $0.03. Seattle Genetics had a negative net margin of 47.38% and a negative return on equity of 32.87%. The firm had revenue of $108.20 million for the quarter, compared to the consensus estimate of $105.92 million. During the same quarter in the prior year, the company posted ($0.23) earnings per share. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. On average, equities analysts forecast that Seattle Genetics, Inc. will post ($1.70) EPS for the current year.

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Several research analysts recently issued reports on SGEN shares. Needham & Company LLC reiterated a “buy” rating and issued a $72.00 price target on shares of Seattle Genetics in a research note on Tuesday, June 20th. HC Wainwright increased their price target on shares of Seattle Genetics from $65.00 to $75.00 and gave the stock a “buy” rating in a research note on Friday, April 28th. Jefferies Group LLC reiterated a “buy” rating and issued a $53.00 price target on shares of Seattle Genetics in a research note on Thursday, July 27th. TheStreet lowered shares of Seattle Genetics from a “c-” rating to a “d” rating in a research note on Tuesday, May 9th. Finally, Zacks Investment Research upgraded shares of Seattle Genetics from a “sell” rating to a “hold” rating in a research note on Tuesday, May 2nd. Five investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $62.07.

In other news, EVP Darren S. Cline sold 6,000 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $49.19, for a total transaction of $295,140.00. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Clay B. Siegall sold 10,423 shares of the company’s stock in a transaction dated Monday, June 5th. The shares were sold at an average price of $65.21, for a total transaction of $679,683.83. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 57,259 shares of company stock worth $3,211,411. Corporate insiders own 33.30% of the company’s stock.

About Seattle Genetics

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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