Envestnet Asset Management Inc. boosted its stake in shares of Seagen Inc. (NASDAQ:SGEN – Get Rating) by 4.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 59,113 shares of the biotechnology company’s stock after buying an additional 2,457 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Seagen were worth $8,088,000 as of its most recent SEC filing.
Several other hedge funds have also recently made changes to their positions in the business. American Century Companies Inc. increased its position in Seagen by 18.4% in the 1st quarter. American Century Companies Inc. now owns 4,559 shares of the biotechnology company’s stock valued at $656,000 after buying an additional 710 shares in the last quarter. HighTower Advisors LLC raised its holdings in Seagen by 5.8% during the 1st quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 84 shares during the period. Healthcare of Ontario Pension Plan Trust Fund increased its holdings in shares of Seagen by 1,484.0% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,566 shares of the biotechnology company’s stock worth $370,000 after purchasing an additional 2,404 shares during the period. MetLife Investment Management LLC bought a new position in shares of Seagen in the first quarter worth $1,166,000. Finally, Yousif Capital Management LLC increased its stake in Seagen by 5.8% in the first quarter. Yousif Capital Management LLC now owns 2,002 shares of the biotechnology company’s stock valued at $288,000 after acquiring an additional 110 shares during the last quarter. 86.25% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on SGEN. Needham & Company LLC upped their price target on shares of Seagen from $160.00 to $178.00 and gave the company a “buy” rating in a research report on Thursday, February 23rd. JPMorgan Chase & Co. dropped their target price on shares of Seagen from $154.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 13th. Cowen dropped their target price on shares of Seagen to $145.00 in a report on Tuesday, November 1st. JMP Securities increased their price target on shares of Seagen from $142.00 to $168.00 and gave the stock a “market outperform” rating in a research note on Friday, February 17th. Finally, SVB Leerink downgraded shares of Seagen from an “outperform” rating to a “market perform” rating and decreased their target price for the company from $162.00 to $141.00 in a research note on Monday, February 6th. Five analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $164.59.
Seagen Price Performance
Seagen (NASDAQ:SGEN – Get Rating) last issued its quarterly earnings results on Wednesday, February 15th. The biotechnology company reported ($0.80) earnings per share 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 analysts’ expectations of $479.81 million. Seagen had a negative net margin of 31.10% and a negative return on equity of 21.13%. The company’s revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.95) EPS. As a group, research analysts anticipate that Seagen Inc. will post -2.99 EPS for the current year.
Insider Transactions at Seagen
In related news, insider Roger D. Dansey sold 10,000 shares of Seagen stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $135.00, for a total transaction of $1,350,000.00. Following the transaction, the insider now owns 97,539 shares in the company, valued at approximately $13,167,765. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Seagen news, insider Roger D. Dansey sold 10,000 shares of Seagen stock in a transaction on Wednesday, December 14th. The shares were sold at an average price of $135.00, for a total value of $1,350,000.00. Following the sale, the insider now directly owns 97,539 shares in the company, valued at approximately $13,167,765. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Jean I. Liu sold 578 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $130.71, for a total transaction of $75,550.38. Following the completion of the sale, the insider now owns 85,113 shares in the company, valued at $11,125,120.23. The disclosure for this sale can be found here. Insiders have sold 104,461 shares of company stock worth $16,143,591 in the last 90 days. 27.30% of the stock is currently owned by insiders.
Seagen Profile
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.
Read More
- Get a free copy of the StockNews.com research report on Seagen (SGEN)
- Will Q4 Results Send Zoom Video Stock Higher?
- Is Amazon a Blue Chip Stock?
- Occidental Petroleum Pulls Back To The Sweet Spot
- Should You Take a Cruise in Royal Caribbean Stock?
- Is Target Stock Aiming For A Breakout In 2023?
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.
