Vaughn B. Himes Sells 10,866 Shares of Seagen Inc. (NASDAQ:SGEN) Stock
Seagen Inc. (NASDAQ:SGEN – Get Rating) insider Vaughn B. Himes sold 10,866 shares of Seagen stock in a transaction dated Tuesday, May 24th. The shares were sold at an average price of $136.79, for a total value of $1,486,360.14. Following the transaction, the insider now owns 59,064 shares of the company’s stock, valued at approximately $8,079,364.56. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of NASDAQ:SGEN traded up $1.99 during mid-day trading on Thursday, reaching $138.46. The company had a trading volume of 1,285,022 shares, compared to its average volume of 1,132,522. The firm has a market cap of $25.49 billion, a price-to-earnings ratio of -36.73 and a beta of 0.85. The company’s 50-day moving average price is $139.11 and its 200-day moving average price is $143.85. Seagen Inc. has a one year low of $105.43 and a one year high of $192.79.
Seagen (NASDAQ:SGEN – Get Rating) last posted its quarterly earnings results on Thursday, April 28th. The biotechnology company reported ($0.74) EPS for the quarter, topping analysts’ consensus estimates of ($0.98) by $0.24. The company had revenue of $426.50 million for the quarter, compared to analysts’ expectations of $401.75 million. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. Seagen’s revenue was up 28.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.67) EPS. On average, equities analysts expect that Seagen Inc. will post -3.51 EPS for the current fiscal year.
Several large investors have recently bought and sold shares of the stock. MML Investors Services LLC grew its stake in Seagen by 0.7% in the 3rd quarter. MML Investors Services LLC now owns 7,729 shares of the biotechnology company’s stock valued at $1,312,000 after buying an additional 57 shares in the last quarter. Baird Financial Group Inc. grew its stake in Seagen by 0.4% in the 1st quarter. Baird Financial Group Inc. now owns 20,977 shares of the biotechnology company’s stock valued at $3,022,000 after buying an additional 82 shares in the last quarter. HighTower Advisors LLC grew its stake in Seagen by 5.8% in the 1st quarter. HighTower Advisors LLC now owns 1,538 shares of the biotechnology company’s stock valued at $221,000 after buying an additional 84 shares in the last quarter. Gateway Investment Advisers LLC grew its stake in Seagen by 0.4% in the 4th quarter. Gateway Investment Advisers LLC now owns 24,284 shares of the biotechnology company’s stock valued at $3,754,000 after buying an additional 89 shares in the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in Seagen by 14.7% in the 4th quarter. Loomis Sayles & Co. L P now owns 725 shares of the biotechnology company’s stock valued at $112,000 after buying an additional 93 shares in the last quarter. 90.37% of the stock is currently owned by institutional investors.
SGEN has been the subject of a number of analyst reports. TheStreet downgraded Seagen from a “c-” rating to a “d+” rating in a research note on Monday, February 7th. Morgan Stanley lifted their target price on shares of Seagen from $170.00 to $173.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 12th. Piper Sandler dropped their target price on shares of Seagen from $165.00 to $150.00 and set a “neutral” rating on the stock in a research report on Thursday, February 10th. StockNews.com assumed coverage on shares of Seagen in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Wolfe Research dropped their target price on shares of Seagen from $195.00 to $146.00 and set a “peer perform” rating on the stock in a research report on Thursday, February 10th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, Seagen presently has a consensus rating of “Buy” and a consensus target price of $162.33.
Seagen Company Profile (Get Rating)
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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