Robeco Institutional Asset Management B.V. Has $8.28 Million Stock Position in Seagen Inc. (NASDAQ:SGEN)

Robeco Institutional Asset Management B.V. grew its position in Seagen Inc. (NASDAQ:SGEN – Get Rating) by 73.6% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 60,528 shares of the biotechnology company’s stock after buying an additional 25,654 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Seagen were worth $8,283,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Seagen by 1.4% in the 3rd quarter. Vanguard Group Inc. now owns 12,663,152 shares of the biotechnology company’s stock valued at $1,732,699,000 after buying an additional 170,001 shares during the period. BlackRock Inc. increased its stake in shares of Seagen by 3.5% in the 3rd quarter. BlackRock Inc. now owns 11,826,822 shares of the biotechnology company’s stock valued at $1,618,264,000 after buying an additional 394,562 shares during the period. State Street Corp increased its stake in shares of Seagen by 0.7% in the 1st quarter. State Street Corp now owns 3,525,411 shares of the biotechnology company’s stock valued at $507,835,000 after buying an additional 24,853 shares during the period. FMR LLC increased its stake in shares of Seagen by 17.9% in the 2nd quarter. FMR LLC now owns 2,671,697 shares of the biotechnology company’s stock valued at $472,730,000 after buying an additional 405,593 shares during the period. Finally, Invesco Ltd. increased its stake in shares of Seagen by 0.9% in the 1st quarter. Invesco Ltd. now owns 1,675,718 shares of the biotechnology company’s stock valued at $241,386,000 after buying an additional 14,316 shares during the period. 86.25% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on SGEN. Barclays raised their price target on Seagen from $145.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Tuesday, March 14th. Berenberg Bank reduced their price target on Seagen from $183.00 to $170.00 and set a “buy” rating on the stock in a research report on Wednesday, January 25th. SVB Leerink lowered Seagen from an “outperform” rating to a “market perform” rating and reduced their price target for the stock from $162.00 to $141.00 in a research report on Monday, February 6th. BMO Capital Markets restated a “market perform” rating and issued a $229.00 price target (up from $179.00) on shares of Seagen in a research report on Tuesday, March 14th. Finally, Guggenheim restated a “buy” rating and issued a $170.00 price target on shares of Seagen in a research report on Tuesday, February 28th. Ten research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $187.29.

Seagen Price Performance

SGEN opened at $200.30 on Friday. The business’s 50-day moving average price is $153.97 and its two-hundred day moving average price is $140.38. Seagen Inc. has a 1 year low of $105.43 and a 1 year high of $202.86. The company has a market capitalization of $37.41 billion, a price-to-earnings ratio of -60.70 and a beta of 0.53.

Seagen (NASDAQ:SGEN – Get Rating) last released its quarterly earnings results on Wednesday, February 15th. The biotechnology company reported ($0.80) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.02) by $0.22. The firm had revenue of $528.20 million for the quarter, compared to the consensus estimate of $479.81 million. Seagen had a negative return on equity of 21.13% and a negative net margin of 31.10%. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.95) EPS. Sell-side analysts anticipate that Seagen Inc. will post -2.98 earnings per share for the current fiscal year.

Insider Activity at Seagen

In related news, CMO Roger D. Dansey sold 10,000 shares of Seagen stock in a transaction dated Wednesday, March 15th. The stock was sold at an average price of $199.81, for a total value of $1,998,100.00. Following the sale, the chief marketing officer now owns 96,853 shares of the company’s stock, valued at $19,352,197.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Seagen news, CFO Todd E. Simpson sold 39,946 shares of the business’s stock in a transaction that occurred on Thursday, February 16th. The stock was sold at an average price of $160.00, for a total transaction of $6,391,360.00. Following the transaction, the chief financial officer now owns 137,185 shares of the company’s stock, valued at $21,949,600. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CMO Roger D. Dansey sold 10,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 15th. The stock was sold at an average price of $199.81, for a total value of $1,998,100.00. Following the transaction, the chief marketing officer now directly owns 96,853 shares in the company, valued at approximately $19,352,197.93. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 147,798 shares of company stock valued at $24,458,163. 27.30% of the stock is owned by insiders.

Seagen Profile

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Seagen Inc is a biotechnology company, which engages in the development and commercialization of targeted therapies for the treatment of cancer. It also engages in the advancement of therapies for solid tumors and blood-related cancers. Its products include Adcetris, Padcev, Tivdak, and Tukysa. The company was founded by Clay B.