American Trust Buys Shares of 2,325 Seagen Inc. (NASDAQ:SGEN)

American Trust bought a new stake in shares of Seagen Inc. (NASDAQ:SGENGet Rating) during the first quarter, Holdings Channel.com reports. The fund bought 2,325 shares of the biotechnology company’s stock, valued at approximately $335,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of SGEN. HighTower Advisors LLC raised its holdings in Seagen by 14.5% during the 4th quarter. HighTower Advisors LLC now owns 1,454 shares of the biotechnology company’s stock valued at $225,000 after acquiring an additional 184 shares during the period. Covestor Ltd bought a new position in shares of Seagen in the fourth quarter worth $50,000. abrdn plc increased its holdings in shares of Seagen by 4.9% in the fourth quarter. abrdn plc now owns 11,352 shares of the biotechnology company’s stock worth $1,755,000 after purchasing an additional 534 shares during the period. Allianz Asset Management GmbH increased its holdings in shares of Seagen by 16.4% in the fourth quarter. Allianz Asset Management GmbH now owns 166,530 shares of the biotechnology company’s stock worth $25,779,000 after purchasing an additional 23,480 shares during the period. Finally, Ensign Peak Advisors Inc increased its holdings in shares of Seagen by 132.4% in the fourth quarter. Ensign Peak Advisors Inc now owns 17,353 shares of the biotechnology company’s stock worth $2,683,000 after purchasing an additional 9,885 shares during the period. Institutional investors own 88.21% of the company’s stock.

Insider Transactions at Seagen

In other news, CEO Roger D. Dansey sold 4,254 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $170.22, for a total transaction of $724,115.88. Following the completion of the sale, the chief executive officer now directly owns 102,558 shares in the company, valued at $17,457,422.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, CEO Roger D. Dansey sold 4,254 shares of the stock in a transaction dated Tuesday, August 16th. The shares were sold at an average price of $170.22, for a total transaction of $724,115.88. Following the completion of the sale, the chief executive officer now directly owns 102,558 shares in the company, valued at $17,457,422.76. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Roger D. Dansey sold 34,635 shares of the stock in a transaction dated Tuesday, June 28th. The stock was sold at an average price of $180.00, for a total transaction of $6,234,300.00. Following the sale, the insider now owns 62,084 shares of the company’s stock, valued at $11,175,120. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 44,972 shares of company stock worth $8,000,443. Company insiders own 27.30% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on SGEN shares. Oppenheimer upped their price target on shares of Seagen from $160.00 to $208.00 and gave the stock an “outperform” rating in a report on Tuesday, June 21st. Royal Bank of Canada raised shares of Seagen from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $179.00 to $188.00 in a report on Monday, August 15th. Guggenheim set a $204.00 target price on shares of Seagen in a research report on Tuesday, July 19th. StockNews.com upgraded shares of Seagen from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, HC Wainwright upped their target price on shares of Seagen from $170.00 to $200.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Three research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $180.36.

Seagen Stock Up 0.5 %

NASDAQ SGEN opened at $142.03 on Monday. The company has a 50-day simple moving average of $166.15 and a two-hundred day simple moving average of $152.86. Seagen Inc. has a 12-month low of $105.43 and a 12-month high of $192.79. The firm has a market cap of $26.20 billion, a price-to-earnings ratio of -35.24 and a beta of 0.62.

Seagen (NASDAQ:SGENGet Rating) last posted its earnings results on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.09. The company had revenue of $497.50 million during the quarter, compared to analyst estimates of $437.77 million. Seagen had a negative net margin of 41.61% and a negative return on equity of 24.33%. Seagen’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the business posted ($0.47) earnings per share. Equities analysts expect that Seagen Inc. will post -3.42 earnings per share for the current fiscal year.

Seagen Profile

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Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company offers ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas; PADCEV, an ADC targeting Nectin-4 for the treatment of advanced or metastatic urothelial cancer; and TUKYSA, an oral small molecule tyrosine kinase inhibitor for the treatment of adult patients with advanced unresectable or metastatic HER2-positive breast cancer.

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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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