Seagen Target of Unusually High Options Trading (NASDAQ:SGEN)

Seagen Inc. (NASDAQ:SGEN – Get Free Report) was the recipient of unusually large options trading on Monday. Traders acquired 23,767 put options on the stock. This is an increase of approximately 70% compared to the average volume of 13,962 put options.

Analyst Ratings Changes

SGEN has been the subject of a number of research analyst reports. StockNews.com began coverage on Seagen in a research report on Tuesday, October 10th. They set a “hold” rating for the company. Truist Financial reiterated a “hold” rating and set a $229.00 price objective on shares of Seagen in a research note on Monday, September 25th. Finally, Morgan Stanley restated an “equal weight” rating and set a $229.00 target price on shares of Seagen in a research report on Thursday, August 3rd. Twelve investment 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 a consensus rating of “Hold” and an average price target of $190.47.

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Insiders Place Their Bets

In related news, insider Vaughn B. Himes sold 8,785 shares of the business’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $205.76, for a total value of $1,807,601.60. Following the completion of the sale, the insider now directly owns 51,439 shares in the company, valued at approximately $10,584,088.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Vaughn B. Himes sold 371 shares of the stock in a transaction dated Tuesday, August 29th. The stock was sold at an average price of $206.00, for a total value of $76,426.00. Following the completion of the sale, the insider now owns 53,234 shares of the company’s stock, valued at $10,966,204. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Vaughn B. Himes sold 8,785 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $205.76, for a total value of $1,807,601.60. Following the sale, the insider now owns 51,439 shares in the company, valued at approximately $10,584,088.64. The disclosure for this sale can be found here. Insiders have sold 23,107 shares of company stock valued at $4,776,488 in the last 90 days. 25.90% of the stock is currently owned by insiders.

Institutional Trading of Seagen

Hedge funds have recently bought and sold shares of the business. Private Trust Co. NA boosted its position in shares of Seagen by 87.1% during the 2nd quarter. Private Trust Co. NA now owns 131 shares of the biotechnology company’s stock worth $25,000 after purchasing an additional 61 shares during the period. KB Financial Partners LLC purchased a new position in Seagen in the 1st quarter valued at approximately $25,000. OLD Mission Capital LLC purchased a new position in Seagen in the 4th quarter valued at approximately $28,000. Achmea Investment Management B.V. purchased a new position in Seagen in the 1st quarter valued at approximately $33,000. Finally, Parallel Advisors LLC raised its holdings in shares of Seagen by 61.6% in the 1st quarter. Parallel Advisors LLC now owns 181 shares of the biotechnology company’s stock valued at $37,000 after purchasing an additional 69 shares in the last quarter. Institutional investors and hedge funds own 84.26% of the company’s stock.

Seagen Trading Up 0.4 %

Shares of SGEN stock opened at $214.91 on Tuesday. The business’s fifty day simple moving average is $205.83 and its 200-day simple moving average is $200.39. The company has a market cap of $40.34 billion, a PE ratio of -55.25 and a beta of 0.47. Seagen has a 12-month low of $116.08 and a 12-month high of $217.08.

Seagen (NASDAQ:SGEN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.13) EPS for the quarter, missing the consensus estimate of ($0.78) by ($0.35). The business had revenue of $603.83 million during the quarter, compared to analysts’ expectations of $555.68 million. Seagen had a negative net margin of 33.54% and a negative return on equity of 26.46%. On average, equities analysts forecast that Seagen will post -3.4 earnings per share for the current year.

Seagen Company Profile

(Get 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.

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