Seagen (NASDAQ:SGEN) Hits New 12-Month High at $202.30

Seagen Inc. (NASDAQ:SGEN – Get Rating) reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $202.30 and last traded at $202.30, with a volume of 660698 shares. The stock had previously closed at $172.61.

Analyst Ratings Changes

Several analysts have recently commented on SGEN shares. Needham & Company LLC lowered Seagen from a “buy” rating to a “hold” rating in a report on Monday. Oppenheimer boosted their price target on Seagen from $210.00 to $229.00 in a research note on Tuesday. SVB Leerink downgraded shares of Seagen from an “outperform” rating to a “market perform” rating and cut their price objective for the company from $162.00 to $141.00 in a report on Monday, February 6th. Raymond James cut shares of Seagen from a “strong-buy” rating to a “market perform” rating in a research note on Monday. Finally, SVB Securities upped their price target on shares of Seagen from $141.00 to $229.00 in a research note on Tuesday. Eight analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $181.06.

Seagen Stock Up 1.1 %

The stock has a market cap of $37.33 billion, a PE ratio of -60.56 and a beta of 0.53. The business has a 50 day moving average price of $148.67 and a 200 day moving average price of $139.02.

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

Insider Buying and Selling

In other Seagen news, EVP Charles R. Romp sold 1,129 shares of Seagen 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 completion of the transaction, the executive vice president now owns 58,475 shares of the company’s stock, valued at $7,463,164.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Charles R. Romp sold 1,129 shares of the firm’s stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $127.63, for a total transaction of $144,094.27. Following the sale, the executive vice president now directly owns 58,475 shares in the company, valued at approximately $7,463,164.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd E. Simpson sold 42,793 shares of Seagen stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $176.61, for a total value of $7,557,671.73. Following the completion of the transaction, the chief financial officer now owns 117,185 shares of the company’s stock, valued at approximately $20,696,042.85. The disclosure for this sale can be found here. Over the last three months, insiders have sold 137,254 shares of company stock valued at $22,351,263. Corporate insiders own 27.30% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Guardian Wealth Advisors LLC purchased a new stake in Seagen in the 3rd quarter worth $26,000. OLD Mission Capital LLC purchased a new stake in shares of Seagen during the fourth quarter worth about $28,000. Achmea Investment Management B.V. acquired a new position in shares of Seagen during the 1st quarter worth about $33,000. Corrado Advisors LLC purchased a new position in Seagen in the 4th quarter valued at about $32,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in Seagen by 622.2% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 260 shares of the biotechnology company’s stock valued at $33,000 after buying an additional 224 shares in the last quarter. 86.25% of the stock is owned by institutional investors and hedge funds.

Seagen Company 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.