Industrial Alliance Investment Management Inc. Purchases 454 Shares of Seagen Inc. (NASDAQ:SGEN)

Industrial Alliance Investment Management Inc. grew its position in Seagen Inc. (NASDAQ:SGEN – Get Rating) by 2.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 17,891 shares of the biotechnology company’s stock after buying an additional 454 shares during the period. Industrial Alliance Investment Management Inc.’s holdings in Seagen were worth $2,448,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in SGEN. Cigna Investments Inc. New increased its position in Seagen by 5.0% in the second quarter. Cigna Investments Inc. New now owns 1,519 shares of the biotechnology company’s stock worth $269,000 after purchasing an additional 73 shares during the period. Commerce Bank grew its position in shares of Seagen by 1.8% during the 2nd quarter. Commerce Bank now owns 4,498 shares of the biotechnology company’s stock worth $796,000 after buying an additional 80 shares during the period. Baird Financial Group Inc. grew its position in shares of Seagen by 0.4% during the 1st quarter. Baird Financial Group Inc. now owns 20,977 shares of the biotechnology company’s stock worth $3,022,000 after buying an additional 82 shares during the period. HighTower Advisors LLC raised its stake in shares of Seagen by 5.8% during the first quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock worth $221,000 after buying an additional 84 shares during the last quarter. Finally, Creative Planning lifted its holdings in Seagen by 0.9% in the third quarter. Creative Planning now owns 11,259 shares of the biotechnology company’s stock valued at $1,541,000 after buying an additional 98 shares during the period. Institutional investors own 86.25% of the company’s stock.

Seagen Trading Up 0.3 %

NASDAQ SGEN opened at $200.48 on Friday. The firm has a market capitalization of $37.45 billion, a P/E ratio of -60.75 and a beta of 0.53. The firm’s fifty day moving average price is $152.69 and its two-hundred day moving average price is $140.19. Seagen Inc. has a 1 year low of $105.43 and a 1 year high of $202.86.

Seagen (NASDAQ:SGEN – Get Rating) last issued its earnings results on Wednesday, February 15th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.22. The business had revenue of $528.20 million during 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 period last year, the business posted ($0.95) EPS. On average, research analysts anticipate that Seagen Inc. will post -2.99 EPS for the current fiscal year.

Insider Buying and Selling at Seagen

In other Seagen news, EVP Charles R. Romp sold 1,129 shares of the stock in a transaction dated Tuesday, December 20th. The shares were sold at an average price of $127.63, for a total value of $144,094.27. Following the transaction, 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 SEC, which can be accessed through this hyperlink. In related news, insider Jean I. Liu sold 4,525 shares of the business’s stock in a transaction on Thursday, January 5th. The stock was sold at an average price of $135.00, for a total value of $610,875.00. Following the completion of the sale, the insider now directly owns 85,691 shares in the company, valued at approximately $11,568,285. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Charles R. Romp sold 1,129 shares of the stock in a transaction on Tuesday, December 20th. The stock was sold at an average price of $127.63, for a total value of $144,094.27. Following the transaction, the executive vice president now owns 58,475 shares in the company, valued at approximately $7,463,164.25. The disclosure for this sale can be found here. Insiders sold 137,798 shares of company stock valued at $22,460,063 in the last quarter. 27.30% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on SGEN. BMO Capital Markets reiterated a “market perform” rating and set a $229.00 target price (up previously from $179.00) on shares of Seagen in a research report on Tuesday. Barclays boosted their price objective on shares of Seagen from $145.00 to $228.00 and gave the company an “equal weight” rating in a research report on Tuesday. Raymond James cut Seagen from a “strong-buy” rating to a “market perform” rating in a research report on Monday. Truist Financial lifted their target price on Seagen from $135.00 to $152.00 in a research report on Friday, February 17th. Finally, Guggenheim restated a “buy” rating and issued a $170.00 target price on shares of Seagen in a research note on Tuesday, February 28th. Ten equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, Seagen currently has an average rating of “Hold” and an average target price of $187.29.

Seagen Company Profile

(Get Rating)

Seagen Inc is a biotechnology company, which engages in the development and commercialization of targeted therapies for the treatment of cancer. It also engages in the advancement of therapies for solid tumors and blood-related cancers. Its products include Adcetris, Padcev, Tivdak, and Tukysa. The company was founded by Clay B.