Seagen Inc. (NASDAQ:SGEN) Stock Holdings Lessened by Raymond James & Associates

Raymond James & Associates lowered its stake in Seagen Inc. (NASDAQ:SGEN – Get Rating) by 4.2% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 30,149 shares of the biotechnology company’s stock after selling 1,313 shares during the period. Raymond James & Associates’ holdings in Seagen were worth $4,125,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Allworth Financial LP increased its holdings in shares of Seagen by 1,053.8% in the second quarter. Allworth Financial LP now owns 150 shares of the biotechnology company’s stock valued at $27,000 after buying an additional 137 shares in the last quarter. Glassman Wealth Services raised its stake in Seagen by 80.6% during the 2nd 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 period. Covington Capital Management acquired a new stake in Seagen during the 2nd quarter valued at $37,000. First Horizon Advisors Inc. raised its stake in Seagen by 1,615.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 223 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 210 shares during the period. Finally, Achmea Investment Management B.V. acquired a new stake in Seagen during the 1st quarter valued at $33,000. Institutional investors own 86.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on SGEN shares. HC Wainwright dropped their price target on shares of Seagen from $200.00 to $180.00 and set a “buy” rating on the stock in a research note on Friday, October 28th. JMP Securities dropped their price target on shares of Seagen from $196.00 to $142.00 and set a “market outperform” rating on the stock in a research note on Wednesday, November 2nd. BMO Capital Markets raised shares of Seagen from a “market perform” rating to an “outperform” rating and upped their price target for the stock from $177.00 to $178.00 in a research note on Tuesday, October 11th. Truist Financial began coverage on shares of Seagen in a research note on Monday, November 21st. They issued a “hold” rating and a $135.00 price target on the stock. Finally, Guggenheim decreased their price objective on shares of Seagen to $170.00 in a report on Tuesday, November 1st. Five analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $160.67.

Seagen Stock Performance

Shares of SGEN opened at $129.86 on Wednesday. The company has a 50-day simple moving average of $128.29 and a 200-day simple moving average of $144.67. The firm has a market capitalization of $24.11 billion, a P/E ratio of -37.64 and a beta of 0.55. Seagen Inc. has a 52 week low of $105.43 and a 52 week high of $183.00.

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

Insider Activity

In other news, CMO Roger D. Dansey sold 7,500 shares of the company’s stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $135.00, for a total transaction of $1,012,500.00. Following the completion of the transaction, the chief marketing officer now owns 97,539 shares of the company’s stock, valued at $13,167,765. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CMO Roger D. Dansey sold 7,500 shares of the stock in a transaction dated Thursday, January 5th. The shares were sold at an average price of $135.00, for a total value of $1,012,500.00. Following the completion of the transaction, the chief marketing officer now owns 97,539 shares of the company’s stock, valued at $13,167,765. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Jean I. Liu sold 4,525 shares of the stock in a transaction dated Thursday, January 5th. The stock was sold at an average price of $135.00, for a total transaction of $610,875.00. Following the completion of the transaction, the insider now directly owns 85,691 shares of the company’s stock, valued at approximately $11,568,285. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 38,987 shares of company stock valued at $5,177,759. Insiders own 27.30% of the company’s stock.

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.