Equities research analysts at StockNews.com started coverage on shares of Seagen (NASDAQ:SGEN – Get Rating) in a research report issued to clients and investors on Sunday. The firm set a “hold” rating on the biotechnology company’s stock.
SGEN has been the topic of several other research reports. SVB Leerink lowered shares of Seagen from an “outperform” rating to a “market perform” rating and decreased their price target for the stock from $162.00 to $141.00 in a research report on Monday, February 6th. TD Securities decreased their target price on Seagen from $145.00 to $129.00 and set a “market perform” rating on the stock in a report on Tuesday, March 21st. Needham & Company LLC downgraded Seagen from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Morgan Stanley lowered Seagen from an “overweight” rating to an “equal weight” rating and increased their price target for the company from $173.00 to $229.00 in a research report on Wednesday, March 15th. Finally, TheStreet upgraded Seagen from a “d+” rating to a “c-” rating in a report on Wednesday, February 22nd. Twelve analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Seagen has an average rating of “Hold” and a consensus target price of $188.33.
Seagen Stock Up 0.3 %
NASDAQ:SGEN opened at $205.55 on Friday. The business’s 50-day moving average price is $174.51 and its 200 day moving average price is $145.97. Seagen has a 52-week low of $105.43 and a 52-week high of $206.38. The firm has a market cap of $38.39 billion, a P/E ratio of -62.29 and a beta of 0.54.
Insider Activity
In other Seagen news, CFO Todd E. Simpson sold 243 shares of the company’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $205.86, for a total value of $50,023.98. Following the transaction, the chief financial officer now directly owns 118,946 shares of the company’s stock, valued at approximately $24,486,223.56. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Jean I. Liu sold 578 shares of the stock in a transaction on Tuesday, January 17th. The shares were sold at an average price of $130.71, for a total transaction of $75,550.38. Following the transaction, the insider now owns 85,113 shares in the company, valued at approximately $11,125,120.23. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Todd E. Simpson sold 243 shares of Seagen stock in a transaction on Thursday, April 6th. The shares were sold at an average price of $205.86, for a total transaction of $50,023.98. Following the completion of the sale, the chief financial officer now directly owns 118,946 shares of the company’s stock, valued at approximately $24,486,223.56. The disclosure for this sale can be found here. Insiders have sold a total of 155,802 shares of company stock worth $26,960,110 in the last ninety days. Corporate insiders own 27.30% of the company’s stock.
Institutional Trading of Seagen
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Guardian Wealth Advisors LLC acquired a new stake in shares of Seagen in the third quarter worth $26,000. OLD Mission Capital LLC acquired a new position in Seagen during the 4th quarter worth $28,000. Corrado Advisors LLC bought a new stake in Seagen during the fourth quarter valued at about $32,000. Harvest Fund Management Co. Ltd grew its position in shares of Seagen by 622.2% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 260 shares of the biotechnology company’s stock valued at $33,000 after purchasing an additional 224 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new position in shares of Seagen in the first quarter worth about $33,000. Institutional investors and hedge funds own 86.25% of the company’s stock.
About Seagen
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.
Featured Stories
- Get a free copy of the StockNews.com research report on Seagen (SGEN)
- MarketBeat Week in Review – 4/3 – 4/7
- Costco Sales Disappoint, Markets Are Missing This Upside Driver
- First Republic Bank Is A Speculative Play, Here’s Why
- The WD-40 Company Bottoms With Reversal In Sight
- 3 Low-Cost Stock ETFs That Are Crushing It This Year
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.
