Cambridge Investment Research Advisors Inc. Buys 297 Shares of Seagen Inc. (NASDAQ:SGEN)

Cambridge Investment Research Advisors Inc. increased its stake in Seagen Inc. (NASDAQ:SGENGet Rating) by 10.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,250 shares of the biotechnology company’s stock after purchasing an additional 297 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Seagen were worth $445,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of SGEN. American Century Companies Inc. grew its position in Seagen by 18.4% during the first quarter. American Century Companies Inc. now owns 4,559 shares of the biotechnology company’s stock valued at $656,000 after acquiring an additional 710 shares during the last quarter. HighTower Advisors LLC grew its position in Seagen by 5.8% during the first quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock valued at $221,000 after acquiring an additional 84 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund grew its position in Seagen by 1,484.0% during the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 2,566 shares of the biotechnology company’s stock valued at $370,000 after acquiring an additional 2,404 shares during the last quarter. MetLife Investment Management LLC bought a new position in Seagen during the first quarter valued at approximately $1,166,000. Finally, Yousif Capital Management LLC boosted its stake in shares of Seagen by 5.8% during the first quarter. Yousif Capital Management LLC now owns 2,002 shares of the biotechnology company’s stock valued at $288,000 after purchasing an additional 110 shares during the period. 86.25% of the stock is currently owned by institutional investors.

Seagen Stock Performance

Shares of NASDAQ:SGEN opened at $131.98 on Thursday. The stock has a market capitalization of $24.50 billion, a price-to-earnings ratio of -38.25 and a beta of 0.55. The stock’s 50-day simple moving average is $128.10 and its two-hundred day simple moving average is $146.22. Seagen Inc. has a 52-week low of $105.43 and a 52-week high of $183.00.

Seagen (NASDAQ:SGENGet Rating) last announced its earnings results on Thursday, October 27th. The biotechnology company reported ($1.03) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.92) by ($0.11). The firm had revenue of $510.30 million during the quarter, compared to analysts’ expectations of $469.25 million. Seagen had a negative return on equity of 21.56% and a negative net margin of 34.16%. As a group, equities analysts forecast that Seagen Inc. will post -3.54 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Charles R. Romp sold 1,129 shares of Seagen stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $127.63, for a total transaction of $144,094.27. Following the transaction, the executive vice president now directly owns 58,475 shares of the company’s stock, valued at approximately $7,463,164.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Charles R. Romp sold 1,129 shares of Seagen stock in a transaction dated Tuesday, December 20th. The stock was sold at an average price of $127.63, for a total transaction of $144,094.27. Following the transaction, the executive vice president now directly owns 58,475 shares of the company’s stock, valued at approximately $7,463,164.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Roger D. Dansey sold 10,000 shares of Seagen stock in a transaction dated Monday, October 17th. The shares were sold at an average price of $135.00, for a total value of $1,350,000.00. Following the transaction, the chief executive officer now directly owns 97,539 shares in the company, valued at $13,167,765. The disclosure for this sale can be found here. Over the last three months, insiders have sold 48,987 shares of company stock valued at $6,527,759. Insiders own 27.30% of the company’s stock.

Wall Street Analyst Weigh In

SGEN has been the subject of a number of analyst reports. Barclays dropped their price objective on Seagen from $174.00 to $136.00 and set an “equal weight” rating for the company in a research note on Friday, October 28th. Morgan Stanley raised their price target on Seagen from $170.00 to $171.00 and gave the stock an “overweight” rating in a research note on Friday, October 28th. Royal Bank of Canada decreased their price objective on Seagen from $185.00 to $178.00 and set an “outperform” rating for the company in a report on Friday, October 28th. JMP Securities reduced their price target on Seagen from $196.00 to $142.00 and set a “market outperform” rating for the company in a report on Wednesday, November 2nd. Finally, Guggenheim reduced their price target on Seagen to $170.00 in a report on Tuesday, November 1st. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $160.67.

Seagen 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.

See Also

Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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