Insider Selling: Seagen Inc. (NASDAQ:SGEN) CEO Sells 17,043 Shares of Stock

Seagen Inc. (NASDAQ:SGENGet Rating) CEO Clay B. Siegall sold 17,043 shares of the company’s stock in a transaction dated Thursday, May 12th. The shares were sold at an average price of $125.69, for a total transaction of $2,142,134.67. Following the transaction, the chief executive officer now owns 666,060 shares in the company, valued at approximately $83,717,081.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

NASDAQ:SGEN opened at $135.63 on Friday. Seagen Inc. has a 52 week low of $105.43 and a 52 week high of $192.79. The firm has a 50-day moving average price of $138.95 and a two-hundred day moving average price of $146.14.

Seagen (NASDAQ:SGENGet Rating) last posted its quarterly earnings data on Thursday, April 28th. The biotechnology company reported ($0.74) EPS for the quarter, beating the consensus estimate of ($0.98) by $0.24. The firm had revenue of $426.50 million during the quarter, compared to analyst estimates of $401.75 million. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. The company’s revenue for the quarter was up 28.5% on a year-over-year basis. During the same quarter last year, the business posted ($0.67) EPS. Equities analysts forecast that Seagen Inc. will post -3.51 earnings per share for the current year.

Several institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. grew its position in shares of Seagen by 2.7% during the 1st quarter. BlackRock Inc. now owns 13,704,355 shares of the biotechnology company’s stock valued at $1,974,113,000 after acquiring an additional 362,602 shares during the period. Vanguard Group Inc. grew its position in shares of Seagen by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 12,279,156 shares of the biotechnology company’s stock valued at $1,768,813,000 after acquiring an additional 139,117 shares during the period. Wellington Management Group LLP grew its position in shares of Seagen by 15.8% during the 3rd quarter. Wellington Management Group LLP now owns 12,191,481 shares of the biotechnology company’s stock valued at $2,070,113,000 after acquiring an additional 1,663,797 shares during the period. State Street Corp grew its position in shares of Seagen by 5.6% during the 4th quarter. State Street Corp now owns 3,500,558 shares of the biotechnology company’s stock valued at $541,186,000 after acquiring an additional 185,093 shares during the period. Finally, Norges Bank bought a new position in shares of Seagen during the 4th quarter valued at approximately $268,295,000. 90.37% of the stock is owned by hedge funds and other institutional investors.

Several equities analysts have recently weighed in on SGEN shares. Needham & Company LLC dropped their price objective on shares of Seagen from $254.00 to $200.00 and set a “buy” rating on the stock in a report on Monday, February 7th. StockNews.com began coverage on shares of Seagen in a report on Thursday, March 31st. They issued a “hold” rating on the stock. JMP Securities restated a “buy” rating and issued a $157.00 target price on shares of Seagen in a report on Monday, April 18th. Royal Bank of Canada lowered their target price on shares of Seagen from $154.00 to $132.00 and set a “sector perform” rating on the stock in a report on Thursday, February 10th. Finally, Stifel Nicolaus lowered their target price on shares of Seagen from $180.00 to $145.00 in a report on Thursday, February 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and an average price target of $161.62.

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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Insider Buying and Selling by Quarter for Seagen (NASDAQ:SGEN)

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