Mitsubishi UFJ Trust & Banking Corp lessened its stake in Seattle Genetics, Inc. (NASDAQ:SGEN) by 0.9% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,004,031 shares of the biotechnology company’s stock after selling 9,256 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.70% of Seattle Genetics worth $54,629,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. increased its position in Seattle Genetics by 2.3% in the 2nd quarter. Vanguard Group Inc. now owns 7,530,515 shares of the biotechnology company’s stock valued at $389,628,000 after acquiring an additional 167,828 shares during the period. BlackRock Inc. increased its position in Seattle Genetics by 2.6% in the 2nd quarter. BlackRock Inc. now owns 7,453,483 shares of the biotechnology company’s stock valued at $385,644,000 after acquiring an additional 185,823 shares during the period. Capital International Investors increased its position in Seattle Genetics by 34.3% in the 2nd quarter. Capital International Investors now owns 2,724,589 shares of the biotechnology company’s stock valued at $140,970,000 after acquiring an additional 695,986 shares during the period. Manning & Napier Advisors LLC acquired a new position in Seattle Genetics in the 3rd quarter valued at about $140,098,000. Finally, Matrix Capital Management Company LP increased its position in Seattle Genetics by 18.8% in the 2nd quarter. Matrix Capital Management Company LP now owns 2,118,000 shares of the biotechnology company’s stock valued at $109,585,000 after acquiring an additional 335,000 shares during the period. Hedge funds and other institutional investors own 98.97% of the company’s stock.

Several brokerages recently issued reports on SGEN. Cantor Fitzgerald set a $46.00 price target on Seattle Genetics and gave the company a “hold” rating in a research report on Wednesday, August 16th. Barclays boosted their price target on Seattle Genetics from $55.00 to $60.00 and gave the company an “equal weight” rating in a research report on Monday, October 16th. Cowen reiterated a “hold” rating on shares of Seattle Genetics in a research report on Sunday, October 29th. Oppenheimer reiterated a “hold” rating on shares of Seattle Genetics in a research report on Friday, September 8th. Finally, Morgan Stanley boosted their target price on Seattle Genetics from $64.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, October 31st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $63.53.

Seattle Genetics, Inc. (NASDAQ SGEN) opened at $59.45 on Friday. Seattle Genetics, Inc. has a 52-week low of $45.31 and a 52-week high of $71.32.

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

In related news, insider Vaughn B. Himes sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $53.22, for a total value of $532,200.00. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Todd E. Simpson sold 39,385 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $60.91, for a total value of $2,398,940.35. The disclosure for this sale can be found here. In the last 90 days, insiders sold 168,143 shares of company stock worth $9,712,824. 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).

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

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