KBC Group NV lessened its stake in Seattle Genetics, Inc. (NASDAQ:SGEN) by 33.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 10,968 shares of the biotechnology company’s stock after selling 5,590 shares during the quarter. KBC Group NV’s holdings in Seattle Genetics were worth $597,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Quantbot Technologies LP increased its holdings in Seattle Genetics by 116.5% in the 3rd quarter. Quantbot Technologies LP now owns 2,654 shares of the biotechnology company’s stock worth $144,000 after acquiring an additional 1,428 shares in the last quarter. Bristlecone Advisors LLC purchased a new stake in Seattle Genetics in the 3rd quarter worth $180,000. DRW Securities LLC purchased a new stake in Seattle Genetics in the 2nd quarter worth $207,000. Andra AP fonden purchased a new stake in Seattle Genetics in the 2nd quarter worth $212,000. Finally, Trexquant Investment LP purchased a new stake in Seattle Genetics in the 3rd quarter worth $226,000. 98.94% of the stock is owned by institutional investors.

Seattle Genetics, Inc. (NASDAQ:SGEN) opened at $52.55 on Friday. Seattle Genetics, Inc. has a 1 year low of $45.31 and a 1 year high of $71.32.

Seattle Genetics (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, October 26th. The biotechnology company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.42) by $0.23. The firm had revenue of $135.29 million for the quarter, compared to analysts’ expectations of $112.76 million. Seattle Genetics had a negative net margin of 26.53% and a negative return on equity of 32.41%. The company’s revenue was up 27.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.23) EPS. analysts forecast that Seattle Genetics, Inc. will post -0.93 earnings per share for the current year.

SGEN has been the subject of several recent analyst reports. Cantor Fitzgerald reissued a “hold” rating on shares of Seattle Genetics in a report on Tuesday, August 29th. Cann reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Tuesday, August 29th. ValuEngine raised shares of Seattle Genetics from a “sell” rating to a “hold” rating in a report on Friday, September 1st. Oppenheimer reaffirmed a “hold” rating on shares of Seattle Genetics in a report on Friday, September 8th. Finally, Jefferies Group reaffirmed a “buy” rating and set a $53.00 target price on shares of Seattle Genetics in a report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, thirteen have issued a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the stock. Seattle Genetics has an average rating of “Hold” and a consensus price target of $63.76.

In other news, insider Clay B. Siegall sold 18,832 shares of the business’s stock in a transaction dated Wednesday, October 11th. The shares were sold at an average price of $61.18, for a total transaction of $1,152,141.76. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Marc E. Lippman sold 3,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $58.07, for a total transaction of $174,210.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 157,210 shares of company stock worth $9,273,250. Corporate insiders own 34.70% of the company’s stock.

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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).

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

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