Sesen Bio (NASDAQ:SESN) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of Sesen Bio (NASDAQ:SESNGet Rating) in a report released on Wednesday. The firm set a “hold” rating on the stock.

Separately, Zacks Investment Research upgraded Sesen Bio from a “sell” rating to a “hold” rating in a report on Saturday.

NASDAQ SESN opened at $0.41 on Wednesday. The stock has a market cap of $82.14 million, a PE ratio of -4.12 and a beta of 0.68. Sesen Bio has a fifty-two week low of $0.41 and a fifty-two week high of $6.04. The business has a 50 day moving average price of $0.60 and a two-hundred day moving average price of $0.82.

Sesen Bio (NASDAQ:SESNGet Rating) last released its quarterly earnings results on Monday, February 28th. The company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.07) by $0.11. Equities analysts anticipate that Sesen Bio will post -0.33 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in SESN. BlackRock Inc. raised its position in shares of Sesen Bio by 23.3% in the 4th quarter. BlackRock Inc. now owns 13,488,604 shares of the company’s stock valued at $10,994,000 after purchasing an additional 2,553,282 shares in the last quarter. Geode Capital Management LLC raised its position in shares of Sesen Bio by 72.1% in the 4th quarter. Geode Capital Management LLC now owns 4,511,761 shares of the company’s stock valued at $3,677,000 after purchasing an additional 1,890,771 shares in the last quarter. Morgan Stanley raised its position in shares of Sesen Bio by 243.1% in the 3rd quarter. Morgan Stanley now owns 653,437 shares of the company’s stock valued at $518,000 after purchasing an additional 462,991 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of Sesen Bio by 198.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 606,862 shares of the company’s stock valued at $495,000 after purchasing an additional 403,606 shares in the last quarter. Finally, Blodgett Wealth Advisors LLC acquired a new position in shares of Sesen Bio in the 4th quarter valued at approximately $267,000. 24.79% of the stock is currently owned by institutional investors.

About Sesen Bio (Get Rating)

Sesen Bio, Inc, a late-stage clinical company, focuses on designing, engineering, developing, and commercializing targeted fusion protein therapeutics (TFPTs) for the treatment patients with cancer. Its lead product candidates include Vicineum, a locally-administered targeted fusion protein that is in Phase III clinical trials for the treatment of bacillus Calmette-Guérin (BCG)-unresponsive non-muscle invasive bladder cancer; to treat non-muscle invasive carcinoma in situ of the bladder in patients previously treated with BCG; and for the treatment of squamous cell carcinoma of the head and neck, as well as VB6-845d, a product candidate for use in the treatment of various types of an anti-epithelial cell adhesion molecule-positive solid tumors.

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