Schroder Investment Management Group increased its position in Seagen Inc. (NASDAQ:SGEN – Get Rating) by 1.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,408 shares of the biotechnology company’s stock after purchasing an additional 136 shares during the quarter. Schroder Investment Management Group’s holdings in Seagen were worth $1,081,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Assetmark Inc. lifted its position in Seagen by 4.5% in the fourth quarter. Assetmark Inc. now owns 8,224 shares of the biotechnology company’s stock worth $1,057,000 after purchasing an additional 352 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its position in Seagen by 138.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 38,478 shares of the biotechnology company’s stock worth $4,945,000 after purchasing an additional 22,325 shares during the period. Sectoral Asset Management Inc. lifted its position in Seagen by 62.9% in the fourth quarter. Sectoral Asset Management Inc. now owns 40,190 shares of the biotechnology company’s stock worth $5,165,000 after purchasing an additional 15,520 shares during the period. Franklin Resources Inc. lifted its position in Seagen by 4.3% in the fourth quarter. Franklin Resources Inc. now owns 1,736,134 shares of the biotechnology company’s stock worth $223,111,000 after purchasing an additional 71,633 shares during the period. Finally, Tekla Capital Management LLC lifted its position in Seagen by 110.2% in the fourth quarter. Tekla Capital Management LLC now owns 112,214 shares of the biotechnology company’s stock worth $14,421,000 after purchasing an additional 58,827 shares during the period. 86.25% of the stock is owned by institutional investors.
Insider Transactions at Seagen
In other news, CMO Roger D. Dansey sold 10,000 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $205.95, for a total transaction of $2,059,500.00. Following the completion of the transaction, the chief marketing officer now directly owns 99,389 shares in the company, valued at approximately $20,469,164.55. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Charles R. Romp sold 133 shares of the business’s stock in a transaction dated Thursday, April 6th. The stock was sold at an average price of $205.86, for a total transaction of $27,379.38. Following the completion of the transaction, the executive vice president now directly owns 60,126 shares in the company, valued at approximately $12,377,538.36. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CMO Roger D. Dansey sold 10,000 shares of the business’s stock in a transaction dated Monday, April 17th. The stock was sold at an average price of $205.95, for a total value of $2,059,500.00. Following the transaction, the chief marketing officer now owns 99,389 shares of the company’s stock, valued at $20,469,164.55. The disclosure for this sale can be found here. In the last ninety days, insiders sold 155,924 shares of company stock worth $30,559,184. 25.90% of the stock is currently owned by company insiders.
Seagen Trading Up 0.4 %
Seagen (NASDAQ:SGEN – Get Rating) last announced its quarterly earnings data on Thursday, April 27th. The biotechnology company reported ($0.93) EPS for the quarter, missing analysts’ consensus estimates of ($0.82) by ($0.11). The firm had revenue of $519.70 million during the quarter, compared to analyst estimates of $516.28 million. Seagen had a negative return on equity of 23.00% and a negative net margin of 31.55%. Seagen’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.74) earnings per share. Equities analysts forecast that Seagen Inc. will post -2.96 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research analysts have issued reports on the company. HC Wainwright reissued a “buy” rating and set a $180.00 price objective on shares of Seagen in a report on Thursday, February 16th. Raymond James cut Seagen from a “strong-buy” rating to a “market perform” rating in a report on Monday, March 13th. StockNews.com assumed coverage on Seagen in a report on Sunday. They set a “hold” rating for the company. Oppenheimer lifted their price objective on Seagen from $210.00 to $229.00 and gave the company an “outperform” rating in a report on Tuesday, March 14th. Finally, Royal Bank of Canada lifted their price objective on Seagen from $155.00 to $229.00 and gave the company an “outperform” rating in a report on Tuesday, March 14th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $190.47.
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.
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