BNP Paribas Arbitrage SNC Buys New Shares in Seagen Inc. (NASDAQ:SGEN)

BNP Paribas Arbitrage SNC bought a new stake in shares of Seagen Inc. (NASDAQ:SGEN – Get Rating) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 124,742 shares of the biotechnology company’s stock, valued at approximately $17,068,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Neuberger Berman Group LLC grew its holdings in shares of Seagen by 0.3% during the 3rd quarter. Neuberger Berman Group LLC now owns 186,285 shares of the biotechnology company’s stock valued at $25,489,000 after purchasing an additional 546 shares during the last quarter. Dana Investment Advisors Inc. grew its holdings in Seagen by 190.6% in the 3rd quarter. Dana Investment Advisors Inc. now owns 4,795 shares of the biotechnology company’s stock worth $656,000 after acquiring an additional 3,145 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in Seagen by 15.7% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 78,596 shares of the biotechnology company’s stock worth $10,754,000 after acquiring an additional 10,640 shares during the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in Seagen in the 3rd quarter worth $10,081,000. Finally, Algert Global LLC bought a new stake in Seagen in the 3rd quarter worth $296,000. Institutional investors own 86.25% of the company’s stock.

Seagen Stock Up 1.1 %

Seagen stock opened at $199.84 on Wednesday. The company has a market cap of $37.33 billion, a price-to-earnings ratio of -60.56 and a beta of 0.53. The firm’s fifty day moving average is $148.67 and its 200 day moving average is $139.02. Seagen Inc. has a 52-week low of $105.43 and a 52-week high of $202.86.

Seagen (NASDAQ:SGEN – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.02) by $0.22. The company had revenue of $528.20 million for the quarter, compared to the consensus estimate of $479.81 million. Seagen had a negative net margin of 31.10% and a negative return on equity of 21.13%. Seagen’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.95) earnings per share. On average, equities research analysts anticipate that Seagen Inc. will post -2.99 earnings per share for the current fiscal year.

Analyst Ratings Changes

SGEN has been the topic of a number of recent analyst reports. Royal Bank of Canada raised their price target on shares of Seagen from $155.00 to $229.00 in a report on Tuesday. Oppenheimer lifted their target price on shares of Seagen from $210.00 to $229.00 in a research note on Tuesday. JPMorgan Chase & Co. cut their target price on shares of Seagen from $154.00 to $150.00 and set an “overweight” rating on the stock in a research note on Monday, February 13th. Barclays lifted their target price on shares of Seagen from $145.00 to $228.00 in a research note on Tuesday. Finally, Evercore ISI raised shares of Seagen from an “in-line” rating to an “outperform” rating and lifted their target price for the company from $140.00 to $175.00 in a research note on Thursday, February 16th. Eight analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $181.06.

Insider Activity

In other news, EVP Charles R. Romp sold 1,129 shares of the stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $127.63, for a total value of $144,094.27. Following the sale, the executive vice president now owns 58,475 shares of the company’s stock, valued at $7,463,164.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, EVP Charles R. Romp sold 1,129 shares of the stock in a transaction on Tuesday, December 20th. The shares were sold at an average price of $127.63, for a total value of $144,094.27. Following the sale, the executive vice president now owns 58,475 shares of the company’s stock, valued at $7,463,164.25. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Jean I. Liu sold 578 shares of the 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 completion of the sale, the insider now directly owns 85,113 shares in the company, valued at approximately $11,125,120.23. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 137,254 shares of company stock valued at $22,351,263. 27.30% of the stock is currently owned by company insiders.

Seagen Profile

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Seagen Inc is a biotechnology company, which engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B.