Seagen Inc. (NASDAQ:SGEN) Shares Sold by Meiji Yasuda Asset Management Co Ltd.

Meiji Yasuda Asset Management Co Ltd. decreased its position in shares of Seagen Inc. (NASDAQ:SGEN – Get Rating) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 11,395 shares of the biotechnology company’s stock after selling 885 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in Seagen were worth $1,559,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Verity Asset Management Inc. purchased a new position in Seagen during the third quarter valued at approximately $737,000. BNP Paribas Arbitrage SNC purchased a new position in Seagen during the third quarter valued at approximately $17,068,000. Neuberger Berman Group LLC raised its position in Seagen by 0.3% during the third quarter. Neuberger Berman Group LLC now owns 186,285 shares of the biotechnology company’s stock valued at $25,489,000 after acquiring an additional 546 shares in the last quarter. Dana Investment Advisors Inc. raised its position in Seagen by 190.6% during the third quarter. Dana Investment Advisors Inc. now owns 4,795 shares of the biotechnology company’s stock valued at $656,000 after acquiring an additional 3,145 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its position in Seagen by 15.7% during the third quarter. Public Employees Retirement System of Ohio now owns 78,596 shares of the biotechnology company’s stock valued at $10,754,000 after acquiring an additional 10,640 shares in the last quarter. Institutional investors and hedge funds own 86.25% of the company’s stock.

Seagen Stock Performance

NASDAQ SGEN opened at $199.84 on Wednesday. Seagen Inc. has a fifty-two week low of $105.43 and a fifty-two week high of $202.86. The stock’s fifty day moving average is $148.67 and its two-hundred day moving average is $139.02. The firm has a market capitalization of $37.33 billion, a P/E ratio of -60.56 and a beta of 0.53.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Oppenheimer lifted their price target on Seagen from $210.00 to $229.00 in a research report on Tuesday. Truist Financial boosted their price objective on Seagen from $135.00 to $152.00 in a research report on Friday, February 17th. Barclays boosted their price objective on Seagen from $145.00 to $228.00 in a research report on Tuesday. Morgan Stanley boosted their price objective on Seagen from $170.00 to $173.00 and gave the company an “overweight” rating in a research report on Thursday, February 16th. Finally, HC Wainwright restated a “buy” rating and issued a $180.00 price objective on shares of Seagen in a research report on Thursday, February 16th. Eight investment analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $181.06.

Insider Activity at Seagen

In other Seagen news, EVP Charles R. Romp sold 1,129 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $127.63, for a total transaction of $144,094.27. Following the completion of the sale, the executive vice president now directly owns 58,475 shares of the company’s stock, valued at approximately $7,463,164.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Seagen news, EVP Charles R. Romp sold 1,129 shares of the stock in a transaction that occurred on Tuesday, December 20th. The stock was sold at an average price of $127.63, for a total transaction of $144,094.27. Following the completion of the sale, the executive vice president now directly owns 58,475 shares of the company’s stock, valued at approximately $7,463,164.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd E. Simpson sold 39,946 shares of the stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $160.00, for a total value of $6,391,360.00. Following the sale, the chief financial officer now directly owns 137,185 shares of the company’s stock, valued at $21,949,600. The disclosure for this sale can be found here. Insiders sold a total of 137,254 shares of company stock valued at $22,351,263 in the last three months. 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.