Seagen Inc. (NASDAQ:SGEN) Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lessened its holdings in shares of Seagen Inc. (NASDAQ:SGENGet Rating) by 2.9% during the 2nd quarter, Holdings Channel.com reports. The fund owned 10,763 shares of the biotechnology company’s stock after selling 326 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Seagen were worth $1,904,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. GSA Capital Partners LLP acquired a new stake in shares of Seagen during the 4th quarter worth about $414,000. Mackenzie Financial Corp raised its position in shares of Seagen by 2.3% during the 4th quarter. Mackenzie Financial Corp now owns 87,014 shares of the biotechnology company’s stock worth $13,452,000 after acquiring an additional 1,991 shares in the last quarter. PDT Partners LLC acquired a new stake in shares of Seagen during the 4th quarter worth about $417,000. Alpha Paradigm Partners LLC acquired a new position in Seagen during the fourth quarter worth approximately $90,000. Finally, Kestra Advisory Services LLC increased its position in Seagen by 121.3% during the first quarter. Kestra Advisory Services LLC now owns 4,353 shares of the biotechnology company’s stock worth $627,000 after buying an additional 2,386 shares during the period. Institutional investors and hedge funds own 88.21% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Needham & Company LLC lifted their price target on Seagen from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. Guggenheim set a $204.00 price target on Seagen in a research report on Tuesday, July 19th. Royal Bank of Canada raised Seagen from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $179.00 to $188.00 in a research report on Monday, August 15th. BMO Capital Markets assumed coverage on Seagen in a research report on Thursday, June 23rd. They set a “market perform” rating and a $169.00 price target on the stock. Finally, JMP Securities lifted their price target on Seagen from $157.00 to $196.00 and gave the stock a “market outperform” rating in a research report on Friday, July 8th. Three investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $180.36.

Insider Activity at Seagen

In related news, CFO Todd E. Simpson sold 1,967 shares of Seagen stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $170.22, for a total value of $334,822.74. Following the sale, the chief financial officer now directly owns 141,371 shares in the company, valued at $24,064,171.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, insider Roger D. Dansey sold 34,635 shares of Seagen stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $180.00, for a total value of $6,234,300.00. Following the sale, the insider now directly owns 62,084 shares in the company, valued at $11,175,120. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Todd E. Simpson sold 1,967 shares of Seagen stock in a transaction on Tuesday, August 16th. The stock was sold at an average price of $170.22, for a total value of $334,822.74. Following the transaction, the chief financial officer now directly owns 141,371 shares of the company’s stock, valued at $24,064,171.62. The disclosure for this sale can be found here. Insiders have sold a total of 44,972 shares of company stock worth $8,000,443 over the last three months. 27.30% of the stock is currently owned by corporate insiders.

Seagen Stock Performance

Seagen stock opened at $140.55 on Friday. Seagen Inc. has a 1-year low of $105.43 and a 1-year high of $192.79. The stock’s 50 day moving average price is $163.22 and its 200 day moving average price is $152.80.

Seagen (NASDAQ:SGENGet Rating) last posted its quarterly earnings results on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.82) by $0.09. Seagen had a negative return on equity of 24.33% and a negative net margin of 41.61%. The firm had revenue of $497.50 million for the quarter, compared to the consensus estimate of $437.77 million. During the same period in the previous year, the business earned ($0.47) earnings per share. The company’s revenue for the quarter was up 28.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Seagen Inc. will post -3.42 EPS 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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