Seagen Inc. (NASDAQ:SGEN) Insider Jean I. Liu Sells 8,333 Shares

Seagen Inc. (NASDAQ:SGENGet Rating) insider Jean I. Liu sold 8,333 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $131.05, for a total value of $1,092,039.65. Following the sale, the insider now directly owns 85,691 shares in the company, valued at approximately $11,229,805.55. The sale was disclosed in a legal filing with the SEC, which is available through this link.

Seagen Stock Performance

NASDAQ SGEN opened at $131.76 on Friday. Seagen Inc. has a one year low of $105.43 and a one year high of $187.35. The company’s 50 day moving average price is $134.32 and its 200 day moving average price is $150.23. The firm has a market capitalization of $24.46 billion, a price-to-earnings ratio of -38.19 and a beta of 0.60.

Analyst Ratings Changes

A number of brokerages have issued reports on SGEN. Needham & Company LLC lifted their target price on shares of Seagen from $180.00 to $188.00 and gave the stock a “buy” rating in a research report on Wednesday, July 27th. HC Wainwright reduced their target price on Seagen from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. SVB Leerink raised their price target on Seagen from $152.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 13th. Morgan Stanley upped their price objective on Seagen from $170.00 to $171.00 and gave the company an “overweight” rating in a research report on Friday, October 28th. Finally, Cowen dropped their price objective on Seagen to $145.00 in a research report on Tuesday, November 1st. Four research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, Seagen presently has a consensus rating of “Moderate Buy” and an average price target of $162.18.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Cigna Investments Inc. New lifted its holdings in Seagen by 5.0% in the 2nd quarter. Cigna Investments Inc. New now owns 1,519 shares of the biotechnology company’s stock worth $269,000 after buying an additional 73 shares in the last quarter. Glassman Wealth Services boosted its holdings in Seagen by 80.6% in the second quarter. Glassman Wealth Services now owns 177 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 79 shares during the last quarter. Commerce Bank grew its stake in Seagen by 1.8% during the 2nd quarter. Commerce Bank now owns 4,498 shares of the biotechnology company’s stock valued at $796,000 after purchasing an additional 80 shares in the last quarter. Baird Financial Group Inc. increased its holdings in Seagen by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 20,977 shares of the biotechnology company’s stock worth $3,022,000 after purchasing an additional 82 shares during the last quarter. Finally, HighTower Advisors LLC raised its position in shares of Seagen by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock valued at $221,000 after purchasing an additional 84 shares in the last quarter. 88.21% of the stock is owned by hedge funds and other institutional investors.

About Seagen

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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.

Further Reading

Insider Buying and Selling by Quarter for Seagen (NASDAQ:SGEN)

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