Shelton Capital Management Has $2.96 Million Holdings in Seagen Inc. (NASDAQ:SGEN)

Shelton Capital Management grew its stake in Seagen Inc. (NASDAQ:SGEN) by 5.0% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,370 shares of the biotechnology company’s stock after buying an additional 726 shares during the quarter. Shelton Capital Management’s holdings in Seagen were worth $2,958,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. KRYGER CAPITAL Ltd acquired a new position in Seagen during the second quarter worth $95,151,000. Alpine Associates Management Inc. boosted its holdings in Seagen by 81.1% during the second quarter. Alpine Associates Management Inc. now owns 674,600 shares of the biotechnology company’s stock worth $129,834,000 after purchasing an additional 302,000 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Seagen by 22.3% during the second quarter. Russell Investments Group Ltd. now owns 24,706 shares of the biotechnology company’s stock worth $4,754,000 after purchasing an additional 4,503 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its holdings in Seagen by 2.3% during the second quarter. Charles Schwab Investment Management Inc. now owns 497,719 shares of the biotechnology company’s stock worth $95,791,000 after purchasing an additional 11,323 shares during the last quarter. Finally, Mint Tower Capital Management B.V. boosted its holdings in Seagen by 128.2% during the second quarter. Mint Tower Capital Management B.V. now owns 5,021 shares of the biotechnology company’s stock worth $966,000 after purchasing an additional 2,821 shares during the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

Insider Buying and Selling at Seagen

In other Seagen news, insider Vaughn B. Himes sold 8,785 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $213.32, for a total value of $1,874,016.20. Following the transaction, the insider now directly owns 42,574 shares of the company’s stock, valued at approximately $9,081,885.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Seagen news, insider Vaughn B. Himes sold 8,785 shares of the firm’s stock in a transaction dated Thursday, November 9th. The shares were sold at an average price of $213.32, for a total value of $1,874,016.20. Following the transaction, the insider now directly owns 42,574 shares of the company’s stock, valued at approximately $9,081,885.68. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CMO Roger D. Dansey sold 1,016 shares of the firm’s stock in a transaction dated Tuesday, August 29th. The shares were sold at an average price of $206.00, for a total transaction of $209,296.00. Following the completion of the transaction, the chief marketing officer now directly owns 115,797 shares in the company, valued at $23,854,182. The disclosure for this sale can be found here. Insiders have sold a total of 42,512 shares of company stock valued at $8,912,670 in the last ninety days. 25.90% of the stock is currently owned by company insiders.

Seagen Stock Performance

NASDAQ:SGEN opened at $212.00 on Friday. Seagen Inc. has a 52 week low of $116.08 and a 52 week high of $217.51. The firm has a market cap of $39.79 billion, a price-to-earnings ratio of -52.87 and a beta of 0.35. The firm’s 50-day simple moving average is $212.91 and its 200 day simple moving average is $202.23.

Seagen (NASDAQ:SGEN) last released its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.15) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.33). Seagen had a negative return on equity of 28.06% and a negative net margin of 32.61%. The business had revenue of $648.65 million for the quarter, compared to the consensus estimate of $635.10 million. During the same period in the prior year, the business posted ($1.03) earnings per share. Seagen’s revenue was up 27.1% compared to the same quarter last year. Sell-side analysts anticipate that Seagen Inc. will post -3.86 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Truist Financial reiterated a “hold” rating and issued a $229.00 price target on shares of Seagen in a research note on Wednesday, October 18th. Morgan Stanley reiterated an “equal weight” rating and issued a $229.00 price target on shares of Seagen in a research note on Thursday, August 3rd. StockNews.com assumed coverage on shares of Seagen in a research note on Sunday. They issued a “hold” rating for the company. Finally, TheStreet cut shares of Seagen from a “c-” rating to a “d+” rating in a research note on Friday, November 3rd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $193.00.

Seagen Company Profile

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. It 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 adult patients with 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.