Lazard Asset Management LLC Buys 145 Shares of Seagen Inc. (NASDAQ:SGEN)

Lazard Asset Management LLC boosted its stake in shares of Seagen Inc. (NASDAQ:SGENGet Rating) by 52.9% in the second quarter, Holdings Channel reports. The firm owned 419 shares of the biotechnology company’s stock after acquiring an additional 145 shares during the period. Lazard Asset Management LLC’s holdings in Seagen were worth $73,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in SGEN. Capital International Investors boosted its position in Seagen by 34.3% during the first quarter. Capital International Investors now owns 15,465,358 shares of the biotechnology company’s stock worth $2,227,185,000 after purchasing an additional 3,953,818 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Seagen by 7.2% during the first quarter. Wellington Management Group LLP now owns 12,476,025 shares of the biotechnology company’s stock worth $1,797,170,000 after buying an additional 839,088 shares during the last quarter. Woodline Partners LP lifted its holdings in shares of Seagen by 110.7% during the first quarter. Woodline Partners LP now owns 1,407,693 shares of the biotechnology company’s stock worth $202,778,000 after buying an additional 739,689 shares during the last quarter. BlackRock Inc. lifted its holdings in shares of Seagen by 2.7% during the first quarter. BlackRock Inc. now owns 13,704,355 shares of the biotechnology company’s stock worth $1,974,113,000 after buying an additional 362,602 shares during the last quarter. Finally, Assenagon Asset Management S.A. lifted its holdings in shares of Seagen by 907.7% during the second quarter. Assenagon Asset Management S.A. now owns 211,705 shares of the biotechnology company’s stock worth $37,459,000 after buying an additional 190,697 shares during the last quarter. Institutional investors own 88.21% of the company’s stock.

Seagen Price Performance

Seagen stock opened at $123.96 on Friday. The stock has a fifty day moving average price of $132.65 and a two-hundred day moving average price of $149.96. Seagen Inc. has a 52-week low of $105.43 and a 52-week high of $183.00. The firm has a market capitalization of $23.01 billion, a P/E ratio of -35.93 and a beta of 0.60.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SGEN shares. Morgan Stanley upped their price target on Seagen from $170.00 to $171.00 and gave the stock an “overweight” rating in a report on Friday, October 28th. Raymond James cut their price target on Seagen from $220.00 to $155.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Guggenheim cut their price target on Seagen to $170.00 in a report on Tuesday, November 1st. Oppenheimer cut their target price on Seagen from $208.00 to $188.00 and set an “outperform” rating for the company in a research note on Friday, October 28th. Finally, BMO Capital Markets upgraded Seagen from a “market perform” rating to an “outperform” rating and upped their target price for the company from $177.00 to $178.00 in a research note on Tuesday, October 11th. 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, Seagen currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Insiders Place Their Bets

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

Seagen Company 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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