American Trust Buys Shares of 2,325 Seagen Inc. (NASDAQ:SGEN)

American Trust bought a new stake in Seagen Inc. (NASDAQ:SGENGet Rating) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 2,325 shares of the biotechnology company’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC grew its stake in Seagen by 413.6% in the first quarter. EverSource Wealth Advisors LLC now owns 1,058 shares of the biotechnology company’s stock valued at $152,000 after acquiring an additional 852 shares during the period. Neuberger Berman Group LLC boosted its position in shares of Seagen by 0.7% during the first quarter. Neuberger Berman Group LLC now owns 176,713 shares of the biotechnology company’s stock worth $25,456,000 after buying an additional 1,310 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Seagen by 1,544.3% during the first quarter. The Manufacturers Life Insurance Company now owns 53,210 shares of the biotechnology company’s stock worth $7,544,000 after buying an additional 49,974 shares during the period. Toroso Investments LLC boosted its position in shares of Seagen by 102.0% during the first quarter. Toroso Investments LLC now owns 12,713 shares of the biotechnology company’s stock worth $1,831,000 after buying an additional 6,419 shares during the period. Finally, Capital International Sarl boosted its position in shares of Seagen by 62.1% during the first quarter. Capital International Sarl now owns 109,928 shares of the biotechnology company’s stock worth $15,835,000 after buying an additional 42,112 shares during the period. 88.21% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms have recently weighed in on SGEN. Royal Bank of Canada raised Seagen from a “sector perform” rating to an “outperform” rating and upped their price objective for the stock from $179.00 to $188.00 in a research report on Monday, August 15th. Raymond James began coverage on Seagen in a research report on Wednesday, June 29th. They set an “outperform” rating and a $220.00 price objective for the company. SVB Leerink upped their price objective on Seagen from $152.00 to $160.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 13th. StockNews.com raised Seagen from a “hold” rating to a “buy” rating in a research report on Friday, August 5th. Finally, Morgan Stanley increased their price target on Seagen from $180.00 to $181.00 and gave the company an “overweight” rating in a research report on Friday, July 29th. Three equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $180.36.

Insider Transactions at Seagen

In other news, CFO Todd E. Simpson sold 1,967 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $170.22, for a total transaction of $334,822.74. Following the transaction, the chief financial officer now owns 141,371 shares in the company, valued at $24,064,171.62. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related news, insider Roger D. Dansey sold 34,635 shares of the stock in a transaction that occurred on Tuesday, June 28th. The stock was sold at an average price of $180.00, for a total transaction of $6,234,300.00. Following the sale, the insider now owns 62,084 shares of the company’s stock, valued at $11,175,120. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Todd E. Simpson sold 1,967 shares of the stock in a transaction that occurred on Tuesday, August 16th. The stock was sold at an average price of $170.22, for a total value of $334,822.74. Following the sale, the chief financial officer now directly owns 141,371 shares in the company, valued at approximately $24,064,171.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,972 shares of company stock worth $8,000,443. Company insiders own 27.30% of the company’s stock.

Seagen Stock Up 0.5 %

NASDAQ:SGEN opened at $142.03 on Monday. The stock’s 50 day moving average price is $166.15 and its two-hundred day moving average price is $152.86. The firm has a market capitalization of $26.20 billion, a price-to-earnings ratio of -35.24 and a beta of 0.62. Seagen Inc. has a 12-month low of $105.43 and a 12-month high of $192.79.

Seagen (NASDAQ:SGENGet Rating) last released its quarterly earnings data on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.82) by $0.09. The firm had revenue of $497.50 million for the quarter, compared to analyst estimates of $437.77 million. Seagen had a negative return on equity of 24.33% and a negative net margin of 41.61%. The business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.47) earnings per share. Equities research analysts expect that Seagen Inc. will post -3.42 EPS for the current year.

Seagen Company Profile

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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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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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