Clay B. Siegall Sells 12,602 Shares of Seagen Inc. (NASDAQ:SGEN) Stock

Seagen Inc. (NASDAQ:SGEN) CEO Clay B. Siegall sold 12,602 shares of the stock in a transaction on Friday, April 9th. The stock was sold at an average price of $141.96, for a total transaction of $1,788,979.92. The sale was disclosed in a document filed with the SEC, which is available at this link.

Clay B. Siegall also recently made the following trade(s):

  • On Thursday, March 4th, Clay B. Siegall sold 29,353 shares of Seagen stock. The stock was sold at an average price of $145.74, for a total transaction of $4,277,906.22.
  • On Thursday, February 4th, Clay B. Siegall sold 29,353 shares of Seagen stock. The stock was sold at an average price of $165.57, for a total transaction of $4,859,976.21.

NASDAQ:SGEN opened at $142.85 on Friday. The firm has a 50-day moving average price of $147.98 and a two-hundred day moving average price of $173.74. Seagen Inc. has a twelve month low of $117.91 and a twelve month high of $213.94. The company has a market capitalization of $25.90 billion, a P/E ratio of 56.24 and a beta of 1.11.

Seagen (NASDAQ:SGEN) last posted its earnings results on Thursday, February 11th. The biotechnology company reported $0.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.09. Seagen had a net margin of 25.34% and a return on equity of 20.46%. The firm had revenue of $601.29 million during the quarter, compared to the consensus estimate of $583.58 million. During the same period last year, the firm posted $0.14 EPS. As a group, sell-side analysts predict that Seagen Inc. will post 3.19 EPS for the current year.

A number of brokerages recently weighed in on SGEN. Berenberg Bank reiterated a “buy” rating on shares of Seagen in a research note on Friday, February 12th. Piper Sandler decreased their price target on shares of Seagen from $175.00 to $170.00 and set a “neutral” rating for the company in a research note on Friday, February 12th. Bank of America upgraded shares of Seagen from a “neutral” rating to a “buy” rating and set a $215.00 price target for the company in a research note on Friday, January 15th. Credit Suisse Group initiated coverage on shares of Seagen in a research note on Tuesday, March 30th. They set a “neutral” rating and a $145.00 price target for the company. Finally, Royal Bank of Canada reduced their target price on shares of Seagen from $186.00 to $169.00 and set a “sector perform” rating for the company in a research note on Tuesday, February 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. Seagen has an average rating of “Buy” and an average target price of $181.80.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EFG Asset Management Americas Corp. boosted its position in shares of Seagen by 483.9% in the first quarter. EFG Asset Management Americas Corp. now owns 8,595 shares of the biotechnology company’s stock worth $1,194,000 after acquiring an additional 7,123 shares during the last quarter. NuWave Investment Management LLC boosted its position in shares of Seagen by 386.9% in the first quarter. NuWave Investment Management LLC now owns 4,703 shares of the biotechnology company’s stock worth $653,000 after acquiring an additional 3,737 shares during the last quarter. Fulton Bank N.A. boosted its position in shares of Seagen by 2.8% in the first quarter. Fulton Bank N.A. now owns 6,721 shares of the biotechnology company’s stock worth $934,000 after acquiring an additional 186 shares during the last quarter. Alpha DNA Investment Management LLC acquired a new position in Seagen during the fourth quarter valued at approximately $184,000. Finally, Mach 1 Financial Group Inc. acquired a new position in Seagen during the fourth quarter valued at approximately $334,000. 87.15% of the stock is currently owned by institutional investors and hedge funds.

Seagen Company Profile

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; PADCEV, an ADC targeting Nectin-4 for the treatment of metastatic urothelial cancers; 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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