Diversified Trust Co purchased a new position in Seagen Inc. (NASDAQ:SGEN) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,273 shares of the biotechnology company’s stock, valued at approximately $223,000.
A number of other hedge funds also recently added to or reduced their stakes in SGEN. Fulton Bank N.A. grew its holdings in shares of Seagen by 1.0% during the fourth quarter. Fulton Bank N.A. now owns 6,535 shares of the biotechnology company’s stock valued at $1,144,000 after buying an additional 66 shares during the last quarter. Wetherby Asset Management Inc. grew its holdings in shares of Seagen by 7.6% during the third quarter. Wetherby Asset Management Inc. now owns 1,865 shares of the biotechnology company’s stock valued at $365,000 after buying an additional 132 shares during the last quarter. Brinker Capital Investments LLC purchased a new stake in Seagen in the third quarter worth approximately $206,000. International Biotechnology Trust PLC boosted its holdings in Seagen by 18.0% in the third quarter. International Biotechnology Trust PLC now owns 65,500 shares of the biotechnology company’s stock worth $12,818,000 after purchasing an additional 10,000 shares during the last quarter. Finally, Fairfield Bush & CO. boosted its holdings in Seagen by 12.7% in the third quarter. Fairfield Bush & CO. now owns 12,520 shares of the biotechnology company’s stock worth $2,450,000 after purchasing an additional 1,407 shares during the last quarter. 91.96% of the stock is owned by institutional investors.
Several brokerages recently issued reports on SGEN. Oppenheimer began coverage on shares of Seagen in a report on Thursday, October 22nd. They issued a “buy” rating and a $213.00 target price on the stock. JPMorgan Chase & Co. restated a “buy” rating on shares of Seagen in a report on Wednesday, September 16th. Needham & Company LLC restated a “buy” rating and issued a $254.00 target price on shares of Seagen in a report on Tuesday, November 17th. JMP Securities increased their price target on shares of Seagen from $200.00 to $216.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 13th. Finally, BidaskClub downgraded shares of Seagen from a “hold” rating to a “sell” rating in a research report on Wednesday, January 6th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the stock. Seagen has an average rating of “Buy” and an average price target of $182.00.
Shares of SGEN stock opened at $176.69 on Thursday. The company has a market capitalization of $31.96 billion, a price-to-earnings ratio of -117.01 and a beta of 1.13. Seagen Inc. has a one year low of $90.57 and a one year high of $213.94. The company’s fifty day moving average price is $182.63 and its 200-day moving average price is $176.14.
Seagen (NASDAQ:SGEN) last posted its earnings results on Thursday, October 29th. The biotechnology company reported $3.50 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.08) by $3.58. The company had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $486.67 million. Seagen had a negative net margin of 25.17% and a negative return on equity of 18.32%. Seagen’s quarterly revenue was up 397.9% on a year-over-year basis. During the same period last year, the company posted ($0.55) earnings per share. As a group, equities analysts expect that Seagen Inc. will post -0.61 earnings per share for the current year.
Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets ADCETRIS, an antibody-drug conjugate (ADC) for the treatment of patients with Hodgkin lymphoma or CD30-positive T-cell lymphomas; and PADCEV, an ADC composed of an anti-Nectin-4 monoclonal antibody for the treatment of metastatic urothelial cancers.
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