Rhumbline Advisers grew its position in Seagen Inc. (NASDAQ:SGEN – Free Report) by 7.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 167,965 shares of the biotechnology company’s stock after purchasing an additional 11,027 shares during the period. Rhumbline Advisers owned approximately 0.09% of Seagen worth $34,008,000 as of its most recent SEC filing.
A number of other institutional investors also recently made changes to their positions in the stock. Xponance Inc. lifted its stake in shares of Seagen by 0.3% in the 1st quarter. Xponance Inc. now owns 18,581 shares of the biotechnology company’s stock worth $3,762,000 after acquiring an additional 53 shares during the period. Ameritas Investment Partners Inc. lifted its stake in shares of Seagen by 1.4% in the 1st quarter. Ameritas Investment Partners Inc. now owns 4,001 shares of the biotechnology company’s stock worth $810,000 after acquiring an additional 55 shares during the period. Parallel Advisors LLC lifted its stake in shares of Seagen by 61.6% in 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. Brown Advisory Inc. lifted its stake in shares of Seagen by 0.5% in the 1st quarter. Brown Advisory Inc. now owns 16,294 shares of the biotechnology company’s stock worth $3,299,000 after acquiring an additional 77 shares during the period. Finally, Baird Financial Group Inc. lifted its stake in Seagen by 0.4% during the first quarter. Baird Financial Group Inc. now owns 20,977 shares of the biotechnology company’s stock valued at $3,022,000 after purchasing an additional 82 shares during the last quarter. 84.26% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at Seagen
In other news, insider Vaughn B. Himes sold 16,215 shares of the stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $195.29, for a total transaction of $3,166,627.35. Following the transaction, the insider now owns 43,837 shares in the company, valued at approximately $8,560,927.73. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, EVP Charles R. Romp sold 708 shares of the firm’s stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $192.46, for a total value of $136,261.68. Following the transaction, the executive vice president now directly owns 59,069 shares in the company, valued at approximately $11,368,419.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Vaughn B. Himes sold 16,215 shares of the firm’s stock in a transaction on Wednesday, June 7th. The shares were sold at an average price of $195.29, for a total transaction of $3,166,627.35. Following the completion of the transaction, the insider now owns 43,837 shares in the company, valued at $8,560,927.73. The disclosure for this sale can be found here. 25.90% of the stock is currently owned by company insiders.
Seagen Trading Up 1.0 %
Seagen (NASDAQ:SGEN – Get Free Report) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.13) earnings per share for the quarter, missing the consensus estimate of ($0.78) by ($0.35). Seagen had a negative net margin of 33.54% and a negative return on equity of 26.46%. The company had revenue of $603.83 million during the quarter, compared to analyst estimates of $555.68 million. As a group, sell-side analysts expect that Seagen Inc. will post -3.4 earnings per share for the current fiscal year.
Analysts Set New Price Targets
Several research firms recently commented on SGEN. Morgan Stanley reissued an “equal weight” rating and set a $229.00 target price on shares of Seagen in a research note on Thursday, August 3rd. StockNews.com began coverage on shares of Seagen in a research note on Wednesday, August 23rd. They set a “hold” rating for the company. Twelve equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $190.47.
Get Our Latest Analysis on Seagen
Seagen Profile
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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