Todd E. Simpson Sells 2,122 Shares of Seagen Inc. (NASDAQ:SGEN) Stock

Seagen Inc. (NASDAQ:SGEN) CFO Todd E. Simpson sold 2,122 shares of the firm’s stock in a transaction dated Thursday, August 31st. The shares were sold at an average price of $206.97, for a total transaction of $439,190.34. Following the completion of the transaction, the chief financial officer now directly owns 128,803 shares in the company, valued at approximately $26,658,356.91. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Seagen Stock Performance

Shares of SGEN stock opened at $207.91 on Friday. The firm has a market cap of $39.02 billion, a price-to-earnings ratio of -53.45 and a beta of 0.50. Seagen Inc. has a 52 week low of $116.08 and a 52 week high of $210.50. The firm’s 50-day simple moving average is $195.59 and its two-hundred day simple moving average is $193.82.

Seagen (NASDAQ:SGEN) last announced its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.13) EPS for the quarter, missing analysts’ consensus estimates of ($0.78) by ($0.35). The business had revenue of $603.83 million for the quarter, compared to analysts’ expectations of $555.68 million. Seagen had a negative net margin of 33.54% and a negative return on equity of 26.46%. Analysts forecast that Seagen Inc. will post -3.4 earnings per share for the current year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on SGEN. Morgan Stanley reissued an “equal weight” rating and issued a $229.00 price objective on shares of Seagen in a research note on Thursday, August 3rd. StockNews.com initiated coverage on Seagen in a research report on Thursday. They issued a “hold” rating for the company. Twelve analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $190.47.

Hedge Funds Weigh In On Seagen

Large investors have recently modified their holdings of the company. KB Financial Partners LLC bought a new position in Seagen in the 1st quarter valued at $25,000. Private Trust Co. NA grew its position in Seagen by 87.1% during the second quarter. Private Trust Co. NA now owns 131 shares of the biotechnology company’s stock worth $25,000 after buying an additional 61 shares in the last quarter. Parallel Advisors LLC grew its position in Seagen by 61.6% during the first quarter. Parallel Advisors LLC now owns 181 shares of the biotechnology company’s stock worth $37,000 after buying an additional 69 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in Seagen in the 2nd quarter worth about $375,000. Finally, Lindbrook Capital LLC raised its holdings in shares of Seagen by 79.8% in the 1st quarter. Lindbrook Capital LLC now owns 196 shares of the biotechnology company’s stock valued at $40,000 after acquiring an additional 87 shares in the last quarter. 84.26% of the stock is currently owned by institutional investors.

Seagen Company Profile

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. It 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 adult patients with 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.