Credit Suisse AG Purchases 50,290 Shares of Seagen Inc. (NASDAQ:SGEN)

Posted by Defense World Staff on Aug 21st, 2023

Credit Suisse AG boosted its position in shares of Seagen Inc. (NASDAQ:SGEN – Free Report) by 24.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 256,273 shares of the biotechnology company’s stock after acquiring an additional 50,290 shares during the period. Credit Suisse AG owned 0.14% of Seagen worth $51,888,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Parallel Advisors LLC raised its stake in Seagen by 61.6% during the 1st quarter. Parallel Advisors LLC now owns 181 shares of the biotechnology company’s stock worth $37,000 after acquiring an additional 69 shares during the period. Lindbrook Capital LLC grew its holdings in shares of Seagen by 79.8% in the first quarter. Lindbrook Capital LLC now owns 196 shares of the biotechnology company’s stock valued at $40,000 after purchasing an additional 87 shares in the last quarter. OLD Mission Capital LLC purchased a new position in Seagen during the fourth quarter worth $28,000. Achmea Investment Management B.V. purchased a new position in Seagen during the first quarter worth $33,000. Finally, Corrado Advisors LLC purchased a new position in Seagen during the fourth quarter worth $32,000. Institutional investors own 81.88% of the company’s stock.

Seagen Stock Down 0.1 %

Shares of Seagen stock opened at $192.74 on Monday. The firm has a market capitalization of $36.18 billion, a P/E ratio of -49.55 and a beta of 0.50. The company has a 50 day moving average price of $194.86 and a 200 day moving average price of $190.09. Seagen Inc. has a 52 week low of $116.08 and a 52 week high of $207.16.

Analysts Set New Price Targets

SGEN has been the subject of a number of recent analyst reports. StockNews.com began coverage on shares of Seagen in a research note on Tuesday, August 15th. They set a “hold” rating for the company. Stifel Nicolaus upped their price objective on shares of Seagen from $157.00 to $229.00 in a research note on Friday, April 28th. Finally, Morgan Stanley reaffirmed an “equal weight” rating and issued a $229.00 price objective on shares of Seagen in a research note on Thursday, August 3rd. Twelve investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $190.47.

Check Out Our Latest Research Report on SGEN

Insider Activity at Seagen

In other news, EVP Charles R. Romp sold 708 shares of the firm’s stock in a transaction that occurred on Monday, July 3rd. The shares were sold at an average price of $192.46, for a total transaction of $136,261.68. Following the sale, the executive vice president now owns 59,069 shares of the company’s stock, valued at approximately $11,368,419.74. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Vaughn B. Himes sold 16,215 shares of Seagen stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $195.29, for a total value of $3,166,627.35. Following the sale, the insider now owns 43,837 shares of the company’s stock, valued at approximately $8,560,927.73. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Charles R. Romp sold 708 shares of Seagen stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $192.46, for a total transaction of $136,261.68. Following the completion of the sale, the executive vice president now directly owns 59,069 shares in the company, valued at approximately $11,368,419.74. The disclosure for this sale can be found here. 25.90% of the stock is currently owned by insiders.

Seagen Company Profile

(Free Report)

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.