Seagen Inc. (NASDAQ:SGEN) Shares Sold by Oppenheimer & Co. Inc.

Posted by on May 12th, 2023

Oppenheimer & Co. Inc. decreased its stake in shares of Seagen Inc. (NASDAQ:SGEN – Get Rating) by 1.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 7,022 shares of the biotechnology company’s stock after selling 133 shares during the period. Oppenheimer & Co. Inc.’s holdings in Seagen were worth $902,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Guardian Wealth Advisors LLC acquired a new position in Seagen during the third quarter worth approximately $26,000. Achmea Investment Management B.V. acquired a new position in Seagen during the first quarter worth approximately $33,000. Harvest Fund Management Co. Ltd increased its position in Seagen by 622.2% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 260 shares of the biotechnology company’s stock worth $33,000 after purchasing an additional 224 shares during the last quarter. Quantbot Technologies LP acquired a new position in Seagen during the second quarter worth approximately $47,000. Finally, U.S. Capital Wealth Advisors LLC acquired a new position in Seagen during the fourth quarter worth approximately $51,000. Institutional investors and hedge funds own 86.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on the stock. JMP Securities downgraded shares of Seagen from an “outperform” rating to a “market perform” rating in a research note on Tuesday, March 14th. HC Wainwright reiterated a “buy” rating and set a $180.00 price objective on shares of Seagen in a research note on Thursday, February 16th. Evercore ISI upgraded shares of Seagen from an “in-line” rating to an “outperform” rating and boosted their price objective for the stock from $140.00 to $175.00 in a research note on Thursday, February 16th. Guggenheim reiterated a “buy” rating and set a $170.00 price objective on shares of Seagen in a research note on Tuesday, February 28th. Finally, SVB Leerink downgraded shares of Seagen from an “outperform” rating to a “market perform” rating and decreased their price objective for the stock from $162.00 to $141.00 in a research note on Monday, February 6th. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $190.47.

Insider Activity at Seagen

In related news, CFO Todd E. Simpson sold 39,946 shares of the company’s stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $160.00, for a total value of $6,391,360.00. Following the sale, the chief financial officer now directly owns 137,185 shares of the company’s stock, valued at $21,949,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Seagen news, CFO Todd E. Simpson sold 39,946 shares of the stock in a transaction on Thursday, February 16th. The shares were sold at an average price of $160.00, for a total transaction of $6,391,360.00. Following the sale, the chief financial officer now directly owns 137,185 shares of the company’s stock, valued at $21,949,600. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Jean I. Liu sold 5,000 shares of the stock in a transaction on Thursday, February 16th. The stock was sold at an average price of $155.00, for a total transaction of $775,000.00. Following the sale, the insider now directly owns 85,113 shares in the company, valued at $13,192,515. The disclosure for this sale can be found here. Insiders have sold 218,657 shares of company stock valued at $40,937,045 over the last ninety days. Corporate insiders own 27.30% of the company’s stock.

Seagen Price Performance

SGEN opened at $199.50 on Friday. The stock has a market capitalization of $37.41 billion, a PE ratio of -57.16 and a beta of 0.54. The firm’s fifty day moving average price is $198.75 and its 200 day moving average price is $157.10. Seagen Inc. has a 12-month low of $116.08 and a 12-month high of $207.16.

Seagen (NASDAQ:SGEN – Get Rating) last posted its quarterly earnings results on Thursday, April 27th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.11). The company had revenue of $519.70 million during the quarter, compared to analyst estimates of $516.28 million. Seagen had a negative net margin of 31.55% and a negative return on equity of 23.00%. The company’s revenue was up 21.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.74) earnings per share. On average, equities research analysts forecast that Seagen Inc. will post -2.96 earnings per share for the current fiscal year.

Seagen Profile

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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.

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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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