Sesen Bio (NASDAQ:SESN) Raised to Hold at Zacks Investment Research

Sesen Bio (NASDAQ:SESNGet Rating) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Friday, Zacks.com reports.

According to Zacks, “Sesen Bio Inc. is a late-stage company developing next-generation antibody-drug conjugate therapies for patients with cancer. The company’s product portfolio includes Vicinium(TM) which is in its clinical trial, treats high-grade non-muscle invasive bladder cancer. Sesen Bio Inc., formerly known as Eleven Biotherapeutics, is based in Massachusetts, United States. “

Separately, StockNews.com started coverage on shares of Sesen Bio in a research note on Wednesday. They issued a “hold” rating for the company.

Shares of Sesen Bio stock opened at $0.39 on Friday. The stock has a market capitalization of $76.91 million, a price-to-earnings ratio of -3.86 and a beta of 0.68. The business has a 50-day moving average of $0.59 and a 200 day moving average of $0.81. Sesen Bio has a 12 month low of $0.37 and a 12 month high of $6.04.

Sesen Bio (NASDAQ:SESNGet Rating) last posted its quarterly earnings data on Monday, February 28th. The company reported $0.04 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.07) by $0.11. Equities research analysts anticipate that Sesen Bio will post -0.33 EPS for the current year.

Several hedge funds have recently added to or reduced their stakes in SESN. BNP Paribas Arbitrage SA increased its position in shares of Sesen Bio by 433.5% in the 3rd quarter. BNP Paribas Arbitrage SA now owns 35,126 shares of the company’s stock valued at $28,000 after purchasing an additional 28,542 shares during the last quarter. Advisor Group Holdings Inc. increased its position in shares of Sesen Bio by 45.7% in the 3rd quarter. Advisor Group Holdings Inc. now owns 36,650 shares of the company’s stock valued at $29,000 after purchasing an additional 11,500 shares during the last quarter. Commonwealth Equity Services LLC increased its position in shares of Sesen Bio by 320.9% in the 3rd quarter. Commonwealth Equity Services LLC now owns 44,923 shares of the company’s stock valued at $35,000 after purchasing an additional 34,250 shares during the last quarter. LPL Financial LLC increased its position in shares of Sesen Bio by 48.4% in the 3rd quarter. LPL Financial LLC now owns 44,000 shares of the company’s stock valued at $35,000 after purchasing an additional 14,350 shares during the last quarter. Finally, Citigroup Inc. increased its position in shares of Sesen Bio by 112.0% in the 4th quarter. Citigroup Inc. now owns 59,483 shares of the company’s stock valued at $48,000 after purchasing an additional 31,422 shares during the last quarter. Hedge funds and other institutional investors own 24.79% of the company’s stock.

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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