Seagen Inc. (NASDAQ:SGEN) EVP Charles R. Romp Sells 319 Shares

Seagen Inc. (NASDAQ:SGENGet Rating) EVP Charles R. Romp sold 319 shares of the firm’s stock in a transaction that occurred on Wednesday, April 20th. The stock was sold at an average price of $144.32, for a total transaction of $46,038.08. Following the sale, the executive vice president now directly owns 49,816 shares of the company’s stock, valued at approximately $7,189,445.12. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

SGEN stock traded down $3.44 during mid-day trading on Friday, reaching $138.00. The company had a trading volume of 707,861 shares, compared to its average volume of 1,072,047. The stock has a market capitalization of $25.37 billion, a P/E ratio of -37.30 and a beta of 0.83. Seagen Inc. has a one year low of $117.46 and a one year high of $192.79. The stock’s 50-day simple moving average is $138.51 and its two-hundred day simple moving average is $150.50.

Seagen (NASDAQ:SGENGet Rating) last posted its earnings results on Wednesday, February 9th. The biotechnology company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.16). The company had revenue of $429.85 million during the quarter, compared to the consensus estimate of $403.42 million. Seagen had a negative net margin of 42.84% and a negative return on equity of 20.68%. During the same quarter in the previous year, the business posted $0.90 earnings per share. As a group, research analysts predict that Seagen Inc. will post -3.67 earnings per share for the current fiscal year.

A number of analysts have recently weighed in on the stock. JMP Securities reissued a “buy” rating and set a $157.00 price target on shares of Seagen in a research report on Monday. Needham & Company LLC decreased their price target on shares of Seagen from $254.00 to $200.00 and set a “buy” rating for the company in a research report on Monday, February 7th. Morgan Stanley raised their price target on shares of Seagen from $170.00 to $173.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Royal Bank of Canada decreased their price target on shares of Seagen from $154.00 to $132.00 and set a “sector perform” rating for the company in a research report on Thursday, February 10th. Finally, StockNews.com assumed coverage on Seagen in a research note on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $161.62.

A number of hedge funds have recently bought and sold shares of SGEN. Truist Financial Corp increased its holdings in shares of Seagen by 1.2% during the first quarter. Truist Financial Corp now owns 17,337 shares of the biotechnology company’s stock valued at $2,498,000 after purchasing an additional 210 shares during the period. Louisiana State Employees Retirement System increased its holdings in shares of Seagen by 1.0% during the first quarter. Louisiana State Employees Retirement System now owns 9,800 shares of the biotechnology company’s stock valued at $1,410,000 after purchasing an additional 100 shares during the period. Xponance Inc. increased its holdings in shares of Seagen by 1.1% during the first quarter. Xponance Inc. now owns 13,865 shares of the biotechnology company’s stock valued at $1,997,000 after purchasing an additional 153 shares during the period. Ellevest Inc. increased its holdings in shares of Seagen by 41.1% during the first quarter. Ellevest Inc. now owns 1,633 shares of the biotechnology company’s stock valued at $235,000 after purchasing an additional 476 shares during the period. Finally, Manning & Napier Group LLC increased its holdings in shares of Seagen by 2.4% during the first quarter. Manning & Napier Group LLC now owns 957,452 shares of the biotechnology company’s stock valued at $137,920,000 after purchasing an additional 22,759 shares during the period. Institutional investors own 89.54% of the company’s stock.

About Seagen (Get Rating)

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company 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 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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