Winthrop Advisory Group LLC lessened its holdings in shares of Seagen Inc. (NASDAQ:SGEN – Get Rating) by 49.3% in the first quarter, according to its most recent filing with the SEC. The firm owned 2,568 shares of the biotechnology company’s stock after selling 2,500 shares during the quarter. Winthrop Advisory Group LLC’s holdings in Seagen were worth $520,000 as of its most recent SEC filing.
A number of other institutional investors also recently added to or reduced their stakes in the business. Lake Street Financial LLC acquired a new position in Seagen during the 1st quarter worth $478,000. Stonnington Group LLC bought a new stake in shares of Seagen in the 1st quarter worth $631,000. Raymond James & Associates raised its stake in shares of Seagen by 0.5% in the 1st quarter. Raymond James & Associates now owns 29,655 shares of the biotechnology company’s stock worth $6,004,000 after buying an additional 157 shares in the last quarter. Mirador Capital Partners LP bought a new stake in shares of Seagen in the 1st quarter worth $202,000. Finally, Yarbrough Capital LLC raised its stake in shares of Seagen by 87.3% in the 1st quarter. Yarbrough Capital LLC now owns 4,526 shares of the biotechnology company’s stock worth $916,000 after buying an additional 2,109 shares in the last quarter. Institutional investors and hedge funds own 81.88% of the company’s stock.
Insider Transactions at Seagen
In other news, insider Vaughn B. Himes sold 16,215 shares of the company’s stock in a transaction dated Wednesday, June 7th. The stock was sold at an average price of $195.29, for a total transaction of $3,166,627.35. Following the completion of the sale, the insider now owns 43,837 shares in the company, valued at approximately $8,560,927.73. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, EVP Charles R. Romp sold 133 shares of the stock in a transaction that occurred on 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 sale, the executive vice president now owns 60,126 shares in the company, valued at approximately $12,377,538.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Vaughn B. Himes sold 16,215 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. In the last quarter, insiders sold 118,802 shares of company stock worth $24,061,239. 25.90% of the stock is owned by corporate insiders.
Analyst Upgrades and Downgrades
A number of equities research analysts have recently issued reports on the company. SVB Securities boosted their target price on Seagen from $141.00 to $229.00 in a research report on Tuesday, March 14th. Truist Financial boosted their target price on Seagen from $152.00 to $229.00 in a research report on Monday, March 20th. JMP Securities lowered Seagen from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 14th. BMO Capital Markets reaffirmed a “market perform” rating and set a $229.00 target price (up from $179.00) on shares of Seagen in a research report on Tuesday, March 14th. Finally, Berenberg Bank lowered Seagen from a “buy” rating to a “hold” rating in a research report on Friday, March 24th. Twelve equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $190.47.
Seagen Price Performance
Shares of NASDAQ SGEN opened at $198.22 on Monday. The company has a market capitalization of $37.17 billion, a P/E ratio of -56.80 and a beta of 0.53. The business’s 50-day moving average price is $197.88 and its two-hundred day moving average price is $172.54. Seagen Inc. has a one year low of $116.08 and a one year high of $207.16.
Seagen (NASDAQ:SGEN – Get Rating) last released its quarterly earnings results on Thursday, April 27th. The biotechnology company reported ($0.93) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.11). The company had revenue of $519.70 million for the quarter, compared to the consensus estimate of $516.28 million. Seagen had a negative return on equity of 23.00% and a negative net margin of 31.55%. The business’s revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.74) EPS. On average, equities analysts anticipate that Seagen Inc. will post -2.95 EPS for the current year.
Seagen Company 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.