Raymond James Financial Services Advisors Inc. Sells 1,052 Shares of Seagen Inc. (NASDAQ:SGEN)

Raymond James Financial Services Advisors Inc. reduced its holdings in shares of Seagen Inc. (NASDAQ:SGENGet Rating) by 9.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,130 shares of the biotechnology company’s stock after selling 1,052 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Seagen were worth $1,386,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Allworth Financial LP raised its stake in shares of Seagen by 1,053.8% during the 2nd quarter. Allworth Financial LP now owns 150 shares of the biotechnology company’s stock worth $27,000 after purchasing an additional 137 shares during the period. Glassman Wealth Services raised its position in Seagen by 80.6% in the second quarter. Glassman Wealth Services now owns 177 shares of the biotechnology company’s stock worth $31,000 after acquiring an additional 79 shares during the period. First Horizon Advisors Inc. boosted its stake in Seagen by 1,615.4% in the second quarter. First Horizon Advisors Inc. now owns 223 shares of the biotechnology company’s stock valued at $38,000 after acquiring an additional 210 shares during the last quarter. Achmea Investment Management B.V. bought a new position in shares of Seagen during the 1st quarter valued at approximately $33,000. Finally, Venture Visionary Partners LLC purchased a new stake in shares of Seagen during the 2nd quarter worth approximately $46,000. Institutional investors own 86.25% of the company’s stock.

Seagen Trading Up 1.2 %

NASDAQ SGEN opened at $132.00 on Friday. The stock’s 50 day moving average is $128.16 and its 200 day moving average is $144.48. Seagen Inc. has a 12 month low of $105.43 and a 12 month high of $183.00. The stock has a market cap of $24.51 billion, a PE ratio of -38.26 and a beta of 0.55.

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

Insider Buying and Selling

In other Seagen news, insider Jean I. Liu sold 578 shares of the firm’s stock in a transaction that occurred on Tuesday, January 17th. The stock was sold at an average price of $130.71, for a total transaction of $75,550.38. Following the completion of the transaction, the insider now owns 85,113 shares in the company, valued at approximately $11,125,120.23. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Jean I. Liu sold 578 shares of the company’s stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $130.71, for a total transaction of $75,550.38. Following the sale, the insider now owns 85,113 shares of the company’s stock, valued at $11,125,120.23. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Jean I. Liu sold 4,525 shares of the stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $135.00, for a total transaction of $610,875.00. Following the transaction, the insider now 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 three months, insiders have sold 39,565 shares of company stock worth $5,253,309. Corporate insiders own 27.30% of the company’s stock.

Analysts Set New Price Targets

SGEN has been the topic of several research analyst reports. Cowen dropped their price objective on Seagen to $145.00 in a research note on Tuesday, November 1st. JMP Securities cut their target price on shares of Seagen from $196.00 to $142.00 and set a “market outperform” rating for the company in a research report on Wednesday, November 2nd. 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 target price for the company. 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. Finally, Morgan Stanley raised their price target on shares of Seagen from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Five equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $160.67.

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

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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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