CI Investments Inc. Acquires 774 Shares of Seagen Inc. (NASDAQ:SGEN)

CI Investments Inc. lifted its holdings in Seagen Inc. (NASDAQ:SGEN – Get Rating) by 177.5% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,210 shares of the biotechnology company’s stock after purchasing an additional 774 shares during the period. CI Investments Inc.’s holdings in Seagen were worth $155,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in SGEN. BlackRock Inc. lifted 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 worth $1,618,264,000 after purchasing an additional 394,562 shares during the period. Renaissance Technologies LLC lifted its stake in shares of Seagen by 695.6% in the 3rd quarter. Renaissance Technologies LLC now owns 233,113 shares of the biotechnology company’s stock worth $31,897,000 after purchasing an additional 203,813 shares during the period. Vanguard Group Inc. lifted 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 worth $1,732,699,000 after purchasing an additional 170,001 shares during the period. International Biotechnology Trust PLC lifted its stake in shares of Seagen by 1,331.9% in the 3rd quarter. International Biotechnology Trust PLC now owns 166,200 shares of the biotechnology company’s stock worth $22,739,000 after purchasing an additional 154,593 shares during the period. Finally, ANTIPODES PARTNERS Ltd lifted its stake in shares of Seagen by 37.0% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 568,447 shares of the biotechnology company’s stock worth $73,051,000 after purchasing an additional 153,439 shares during the period. Institutional investors own 86.25% of the company’s stock.

Analyst Upgrades and Downgrades

SGEN has been the subject of several analyst reports. TD Securities reduced their target price on shares of Seagen from $145.00 to $129.00 and set a “market perform” rating for the company in a report on Tuesday, March 21st. Needham & Company LLC lowered shares of Seagen from a “buy” rating to a “hold” rating in a report on Monday, March 13th. Raymond James lowered shares of Seagen from a “strong-buy” rating to a “market perform” rating in a report on Monday, March 13th. Stifel Nicolaus increased their target price on shares of Seagen from $157.00 to $229.00 in a report on Friday, April 28th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Seagen from $154.00 to $150.00 and set an “overweight” rating for the company in a report on Monday, February 13th. Twelve research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Seagen presently has a consensus rating of “Hold” and an average target price of $190.47.

Seagen Trading Down 0.5 %

NASDAQ:SGEN opened at $195.42 on Thursday. Seagen Inc. has a twelve month low of $116.08 and a twelve month high of $207.16. The company has a market cap of $36.64 billion, a price-to-earnings ratio of -55.99 and a beta of 0.54. The stock has a fifty day simple moving average of $200.66 and a 200-day simple moving average of $161.46.

Seagen (NASDAQ:SGEN – Get Rating) last released its earnings results on Thursday, April 27th. The biotechnology company reported ($0.93) earnings per share for the quarter, missing the consensus estimate of ($0.82) by ($0.11). Seagen had a negative return on equity of 23.00% and a negative net margin of 31.55%. The business had revenue of $519.70 million for the quarter, compared to the consensus estimate of $516.28 million. During the same quarter last year, the business posted ($0.74) earnings per share. The firm’s revenue for the quarter was up 21.9% compared to the same quarter last year. As a group, equities research analysts predict that Seagen Inc. will post -2.96 EPS for the current fiscal year.

Insider Transactions at Seagen

In other news, EVP Charles R. Romp sold 349 shares of Seagen stock in a transaction on Tuesday, May 16th. The stock was sold at an average price of $189.86, for a total transaction of $66,261.14. Following the completion of the sale, the executive vice president now directly owns 59,777 shares in the company, valued at $11,349,261.22. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Charles R. Romp sold 133 shares of the firm’s stock in a transaction on Thursday, April 6th. The stock was sold at an average price of $205.86, for a total transaction of $27,379.38. Following the transaction, the executive vice president now owns 60,126 shares in the company, valued at $12,377,538.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles R. Romp sold 349 shares of the firm’s stock in a transaction on Tuesday, May 16th. The shares were sold at an average price of $189.86, for a total value of $66,261.14. Following the transaction, the executive vice president now owns 59,777 shares in the company, valued at approximately $11,349,261.22. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 175,924 shares of company stock worth $34,209,784. 25.90% of the stock is currently owned by insiders.

Seagen Company Profile

(Get Rating)

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.