Janney Montgomery Scott LLC Has $2.21 Million Holdings in Seagen Inc. (NASDAQ:SGEN)

Janney Montgomery Scott LLC lessened its holdings in shares of Seagen Inc. (NASDAQ:SGENGet Rating) by 2.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 16,148 shares of the biotechnology company’s stock after selling 480 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Seagen were worth $2,210,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. FMR LLC raised its stake in shares of Seagen by 17.9% in the 2nd quarter. FMR LLC now owns 2,671,697 shares of the biotechnology company’s stock valued at $472,730,000 after purchasing an additional 405,593 shares during the period. Assenagon Asset Management S.A. raised its stake in shares of Seagen by 907.7% in the 2nd quarter. Assenagon Asset Management S.A. now owns 211,705 shares of the biotechnology company’s stock valued at $37,459,000 after purchasing an additional 190,697 shares during the period. Capital Group Private Client Services Inc. raised its stake in shares of Seagen by 24.0% in the 1st quarter. Capital Group Private Client Services Inc. now owns 782,179 shares of the biotechnology company’s stock valued at $112,673,000 after purchasing an additional 151,206 shares during the period. Vanguard Group Inc. raised its stake in shares of Seagen by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 12,279,156 shares of the biotechnology company’s stock valued at $1,768,813,000 after purchasing an additional 139,117 shares during the period. Finally, Artisan Partners Limited Partnership acquired a new stake in shares of Seagen in the 2nd quarter valued at about $22,006,000. Institutional investors and hedge funds own 86.25% of the company’s stock.

Analysts Set New Price Targets

SGEN has been the topic of several recent research reports. Royal Bank of Canada dropped their price target on Seagen from $185.00 to $178.00 and set an “outperform” rating on the stock in a research note on Friday, October 28th. Oppenheimer decreased their price objective on Seagen from $208.00 to $188.00 and set an “outperform” rating for the company in a report on Friday, October 28th. Cowen decreased their price objective on Seagen to $145.00 in a report on Tuesday, November 1st. TheStreet cut Seagen from a “c-” rating to a “d+” rating in a report on Friday, September 16th. Finally, Guggenheim decreased their price objective on Seagen to $170.00 in a report on Tuesday, November 1st. Five investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $160.67.

Seagen Trading Up 0.1 %

NASDAQ SGEN opened at $132.12 on Friday. Seagen Inc. has a 1-year low of $105.43 and a 1-year high of $183.00. The company has a 50 day moving average of $128.28 and a 200-day moving average of $145.80. The company has a market cap of $24.53 billion, a price-to-earnings ratio of -38.30 and a beta of 0.55.

Seagen (NASDAQ:SGENGet Rating) last released its quarterly earnings results on Thursday, October 27th. The biotechnology company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.11). Seagen had a negative net margin of 34.16% and a negative return on equity of 21.56%. The business had revenue of $510.30 million during the quarter, compared to analyst estimates of $469.25 million. On average, equities research analysts forecast that Seagen Inc. will post -3.54 earnings per share for the current year.

Insider Activity

In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 97,539 shares in the company, valued at $13,167,765. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the business’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 completion of the transaction, the chief executive officer now directly owns 97,539 shares in the company, valued at $13,167,765. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jean I. Liu sold 8,333 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now owns 85,691 shares of the company’s stock, valued at $11,229,805.55. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 48,987 shares of company stock worth $6,527,759. Corporate insiders own 27.30% of the company’s stock.

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.

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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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