Yousif Capital Management LLC purchased a new stake in shares of Seagen Inc. (NASDAQ:SGEN – Get Rating) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,892 shares of the biotechnology company’s stock, valued at approximately $293,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of SGEN. First Horizon Advisors Inc. boosted its position in Seagen by 486.1% during the third quarter. First Horizon Advisors Inc. now owns 633 shares of the biotechnology company’s stock valued at $34,000 after buying an additional 525 shares during the period. Reilly Financial Advisors LLC purchased a new stake in shares of Seagen during the fourth quarter worth about $54,000. McIlrath & Eck LLC boosted its holdings in shares of Seagen by 438.7% during the third quarter. McIlrath & Eck LLC now owns 334 shares of the biotechnology company’s stock worth $57,000 after purchasing an additional 272 shares during the period. Assetmark Inc. boosted its holdings in shares of Seagen by 81.4% during the third quarter. Assetmark Inc. now owns 341 shares of the biotechnology company’s stock worth $58,000 after purchasing an additional 153 shares during the period. Finally, Desjardins Global Asset Management Inc. purchased a new stake in shares of Seagen during the fourth quarter worth about $69,000. Institutional investors and hedge funds own 89.54% of the company’s stock.
In other news, CEO Clay B. Siegall sold 1,885 shares of the business’s stock in a transaction dated Wednesday, April 20th. The shares were sold at an average price of $144.32, for a total value of $272,043.20. Following the sale, the chief executive officer now directly owns 666,060 shares in the company, valued at approximately $96,125,779.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Charles R. Romp sold 319 shares of the business’s stock in a transaction dated Wednesday, April 20th. The stock was sold at an average price of $144.32, for a total transaction of $46,038.08. Following the completion of the sale, the executive vice president now owns 49,816 shares in the company, valued at $7,189,445.12. The disclosure for this sale can be found here. Over the last quarter, insiders sold 80,040 shares of company stock worth $11,139,572. 27.30% of the stock is currently owned by insiders.
Seagen (NASDAQ:SGEN – Get Rating) last released its earnings results on Wednesday, February 9th. The biotechnology company reported ($0.95) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.79) by ($0.16). The firm had revenue of $429.85 million for the quarter, compared to analysts’ expectations of $403.42 million. Seagen had a negative net margin of 42.84% and a negative return on equity of 20.68%. During the same quarter last year, the firm posted $0.90 EPS. On average, equities research analysts anticipate that Seagen Inc. will post -3.67 EPS for the current year.
A number of equities analysts recently issued reports on SGEN shares. StockNews.com started coverage on shares of Seagen in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Needham & Company LLC decreased their target price on shares of Seagen from $254.00 to $200.00 and set a “buy” rating for the company in a research note on Monday, February 7th. Wolfe Research decreased their target price on shares of Seagen from $195.00 to $146.00 and set a “peer perform” rating for the company in a research note on Thursday, February 10th. Oppenheimer decreased their target price on shares of Seagen from $198.00 to $162.00 in a research note on Friday, February 11th. Finally, Stifel Nicolaus reduced their price target on shares of Seagen from $180.00 to $145.00 in a research report on Thursday, February 10th. One analyst has rated the stock with a sell rating, four have given a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $161.62.
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.
- Get a free copy of the StockNews.com research report on Seagen (SGEN)
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