Seagen (NASDAQ:SGEN) Coverage Initiated by Analysts at Truist Financial

Truist Financial started coverage on shares of Seagen (NASDAQ:SGENGet Rating) in a research report released on Monday, The Fly reports. The firm issued a hold rating and a $135.00 target price on the biotechnology company’s stock.

SGEN has been the subject of several other research reports. HC Wainwright lowered their target price on shares of Seagen from $200.00 to $180.00 and set a buy rating for the company in a research note on Friday, October 28th. Morgan Stanley increased their target price on shares of Seagen from $170.00 to $171.00 and gave the stock an overweight rating in a research note on Friday, October 28th. BMO Capital Markets raised shares of Seagen from a market perform rating to an outperform rating and increased their target price for the stock from $177.00 to $178.00 in a research note on Tuesday, October 11th. Needham & Company LLC raised their price objective on shares of Seagen from $180.00 to $188.00 and gave the company a buy rating in a research note on Wednesday, July 27th. Finally, Barclays lowered their price objective on shares of Seagen from $174.00 to $136.00 and set an equal weight rating for the company in a research note on Friday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of Moderate Buy and a consensus price target of $160.67.

Seagen Trading Down 6.3 %

Seagen stock opened at $123.48 on Monday. Seagen has a 12-month low of $105.43 and a 12-month high of $183.00. The stock has a market cap of $22.93 billion, a P/E ratio of -35.79 and a beta of 0.60. The company has a 50-day moving average price of $133.79 and a 200 day moving average price of $150.31.

Insiders Place Their Bets

In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, October 17th. The shares were sold at an average price of $135.00, for a total transaction of $1,350,000.00. Following the sale, the chief executive officer now owns 97,539 shares of the company’s stock, valued at $13,167,765. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO Roger D. Dansey sold 10,000 shares of Seagen stock in a transaction on Monday, October 17th. The shares were sold at an average price of $135.00, for a total value of $1,350,000.00. Following the transaction, the chief executive officer now directly owns 97,539 shares of the company’s stock, valued at approximately $13,167,765. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Jean I. Liu sold 8,333 shares of Seagen stock in a transaction on Thursday, November 17th. The shares were sold at an average price of $131.05, for a total transaction of $1,092,039.65. Following the completion of the transaction, the insider now directly owns 85,691 shares in the company, valued at $11,229,805.55. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 25,833 shares of company stock valued at $3,410,290. 27.30% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Seagen

A number of institutional investors have recently modified their holdings of the business. Capital International Investors increased its holdings in shares of Seagen by 34.3% in the 1st quarter. Capital International Investors now owns 15,465,358 shares of the biotechnology company’s stock valued at $2,227,185,000 after acquiring an additional 3,953,818 shares during the period. BlackRock Inc. grew its position in Seagen by 2.7% in the 1st quarter. BlackRock Inc. now owns 13,704,355 shares of the biotechnology company’s stock valued at $1,974,113,000 after buying an additional 362,602 shares during the last quarter. Vanguard Group Inc. grew its position in Seagen by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,663,152 shares of the biotechnology company’s stock valued at $1,732,699,000 after buying an additional 170,001 shares during the last quarter. Wellington Management Group LLP grew its position in Seagen by 7.2% in the 1st quarter. Wellington Management Group LLP now owns 12,476,025 shares of the biotechnology company’s stock valued at $1,797,170,000 after buying an additional 839,088 shares during the last quarter. Finally, State Street Corp grew its position in Seagen by 0.7% in the 1st quarter. State Street Corp now owns 3,525,411 shares of the biotechnology company’s stock valued at $507,835,000 after buying an additional 24,853 shares during the last quarter. 88.21% of the stock is owned by institutional investors and hedge funds.

Seagen Company Profile

(Get Rating)

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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Analyst Recommendations for Seagen (NASDAQ:SGEN)

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