Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Seagen Inc. (NASDAQ:SGEN – Free Report) by 8.5% in the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 25,684 shares of the biotechnology company’s stock after purchasing an additional 2,020 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Seagen were worth $5,200,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Deutsche Bank AG grew its stake in Seagen by 9.0% in the 4th quarter. Deutsche Bank AG now owns 484,988 shares of the biotechnology company’s stock valued at $62,326,000 after buying an additional 40,162 shares during the last quarter. Raymond James & Associates grew its stake in Seagen by 0.5% in the 1st quarter. Raymond James & Associates now owns 29,655 shares of the biotechnology company’s stock valued at $6,004,000 after buying an additional 157 shares during the last quarter. Assetmark Inc. grew its stake in Seagen by 4.5% in the 4th quarter. Assetmark Inc. now owns 8,224 shares of the biotechnology company’s stock valued at $1,057,000 after buying an additional 352 shares during the last quarter. Arizona State Retirement System grew its stake in Seagen by 0.4% in the 4th quarter. Arizona State Retirement System now owns 37,691 shares of the biotechnology company’s stock valued at $4,844,000 after buying an additional 164 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC acquired a new position in Seagen in the 4th quarter valued at $1,220,000. Institutional investors own 81.88% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently issued reports on SGEN. Stifel Nicolaus raised their target price on shares of Seagen from $157.00 to $229.00 in a research note on Friday, April 28th. Morgan Stanley reissued an “equal weight” rating and issued a $229.00 price target on shares of Seagen in a report on Thursday, August 3rd. Finally, StockNews.com started coverage on shares of Seagen in a report on Monday, August 7th. They issued a “hold” rating for the company. Twelve analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, Seagen presently has an average rating of “Hold” and an average price target of $190.47.
Insider Activity
In other Seagen news, Director Daniel G. Welch sold 1,864 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $200.02, for a total value of $372,837.28. Following the transaction, the director now directly owns 6,253 shares in the company, valued at $1,250,725.06. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Seagen news, EVP Charles R. Romp sold 349 shares of the business’s stock in a transaction dated Tuesday, May 16th. The shares were sold at an average price of $189.86, for a total value of $66,261.14. Following the transaction, the executive vice president now directly owns 59,777 shares in the company, valued at $11,349,261.22. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel G. Welch sold 1,864 shares of the business’s stock in a transaction dated Monday, May 15th. The shares were sold at an average price of $200.02, for a total transaction of $372,837.28. Following the completion of the transaction, the director now owns 6,253 shares in the company, valued at $1,250,725.06. The disclosure for this sale can be found here. In the last three months, insiders have sold 19,136 shares of company stock worth $3,741,987. Corporate insiders own 25.90% of the company’s stock.
Seagen Trading Down 0.2 %
Shares of Seagen stock opened at $194.68 on Friday. The firm’s 50-day simple moving average is $195.05 and its 200-day simple moving average is $187.84. Seagen Inc. has a twelve month low of $116.08 and a twelve month high of $207.16.
About Seagen
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.
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