ProShare Advisors LLC cut its stake in Seagen Inc. (NASDAQ:SGEN – Free Report) by 6.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 159,730 shares of the biotechnology company’s stock after selling 10,558 shares during the period. ProShare Advisors LLC’s holdings in Seagen were worth $30,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently modified their holdings of SGEN. Vanguard Group Inc. increased its holdings in shares of Seagen by 1.1% in the 1st quarter. Vanguard Group Inc. now owns 12,279,156 shares of the biotechnology company’s stock worth $1,768,813,000 after acquiring an additional 139,117 shares during the period. State Street Corp increased its stake in shares of Seagen by 0.7% in the first quarter. State Street Corp now owns 3,525,411 shares of the biotechnology company’s stock valued at $507,835,000 after purchasing an additional 24,853 shares during the period. Norges Bank bought a new stake in shares of Seagen during the fourth quarter valued at approximately $281,065,000. Barclays PLC boosted its position in shares of Seagen by 836.5% during the second quarter. Barclays PLC now owns 2,069,120 shares of the biotechnology company’s stock worth $398,222,000 after buying an additional 1,848,180 shares during the period. Finally, Geode Capital Management LLC grew its holdings in Seagen by 3.0% in the 1st quarter. Geode Capital Management LLC now owns 1,974,023 shares of the biotechnology company’s stock worth $399,102,000 after buying an additional 56,750 shares in the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.
Analysts Set New Price Targets
SGEN has been the topic of several recent analyst reports. Morgan Stanley reaffirmed an “equal weight” rating and set a $229.00 target price on shares of Seagen in a research note on Thursday, August 3rd. Truist Financial restated a “hold” rating and set a $229.00 price objective on shares of Seagen in a research note on Wednesday, October 18th. StockNews.com initiated coverage on shares of Seagen in a research note on Sunday. They set a “hold” rating on the stock. Finally, TheStreet lowered 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 company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $193.00.
Insider Buying and Selling at Seagen
In other Seagen news, insider Vaughn B. Himes sold 8,785 shares of Seagen stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $213.32, for a total transaction of $1,874,016.20. Following the completion of the sale, the insider now owns 42,574 shares of the company’s stock, valued at approximately $9,081,885.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Vaughn B. Himes sold 8,785 shares of Seagen stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $213.32, for a total transaction of $1,874,016.20. Following the completion of the sale, the insider now directly owns 42,574 shares in the company, valued at approximately $9,081,885.68. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO David R. Epstein sold 10,620 shares of the stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $213.01, for a total value of $2,262,166.20. Following the completion of the transaction, the chief executive officer now owns 136,598 shares in the company, valued at approximately $29,096,739.98. 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 90 days. 25.90% of the stock is currently owned by corporate insiders.
Seagen Price Performance
SGEN stock opened at $211.85 on Tuesday. The firm has a market capitalization of $39.76 billion, a P/E ratio of -52.83 and a beta of 0.35. Seagen Inc. has a 52-week low of $116.08 and a 52-week high of $217.51. The company’s 50 day simple moving average is $212.98 and its 200-day simple moving average is $202.35.
Seagen (NASDAQ:SGEN – Get Free Report) last issued its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.15) EPS for the quarter, missing the consensus estimate of ($0.82) by ($0.33). The business had revenue of $648.65 million during the quarter, compared to analyst estimates of $635.10 million. Seagen had a negative return on equity of 28.06% and a negative net margin of 32.61%. The business’s quarterly revenue was up 27.1% on a year-over-year basis. During the same period last year, the business earned ($1.03) EPS. Sell-side analysts predict that Seagen Inc. will post -3.86 EPS for the current fiscal year.
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.
- Five stocks we like better than Seagen
- Mega Cap Stocks: What They Are and How to Invest
- Safeguard your portfolio with these three bargain stocks
- Stock Sentiment Analysis: How it Works
- Membership clubs gain leverage for the consumer rebound
- Investing in Vaccines 101: How to Invest in Vaccine Stocks
- Advanced Auto Parts may be worth more in pieces than the whole
Receive News & Ratings for Seagen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagen and related companies with MarketBeat.com's FREE daily email newsletter.