Seagen Inc. (NASDAQ:SGEN) is JGP Global Gestao de Recursos Ltda.’s 7th Largest Position

JGP Global Gestao de Recursos Ltda. reduced its stake in Seagen Inc. (NASDAQ:SGENGet Rating) by 2.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 17,730 shares of the biotechnology company’s stock after selling 520 shares during the quarter. Seagen comprises about 2.0% of JGP Global Gestao de Recursos Ltda.’s portfolio, making the stock its 7th largest holding. JGP Global Gestao de Recursos Ltda.’s holdings in Seagen were worth $2,426,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Allworth Financial LP increased its holdings in Seagen by 1,053.8% in the 2nd quarter. Allworth Financial LP now owns 150 shares of the biotechnology company’s stock worth $27,000 after buying an additional 137 shares during the period. Glassman Wealth Services increased its holdings in Seagen by 80.6% in the 2nd quarter. Glassman Wealth Services now owns 177 shares of the biotechnology company’s stock worth $31,000 after buying an additional 79 shares during the period. First Horizon Advisors Inc. increased its holdings in Seagen by 1,615.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 223 shares of the biotechnology company’s stock worth $38,000 after buying an additional 210 shares during the period. Achmea Investment Management B.V. acquired a new position in Seagen in the 1st quarter worth approximately $33,000. Finally, Venture Visionary Partners LLC acquired a new position in Seagen in the 2nd quarter worth approximately $46,000. 86.25% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

SGEN has been the topic of a number of analyst reports. JPMorgan Chase & Co. dropped their price objective on shares of Seagen from $194.00 to $155.00 and set an “overweight” rating on the stock in a research note on Monday, October 24th. Guggenheim dropped their price objective on shares of Seagen to $170.00 in a research note on Tuesday, November 1st. Truist Financial initiated coverage on shares of Seagen in a research note on Monday, November 21st. They set a “hold” rating and a $135.00 price objective on the stock. Morgan Stanley dropped their price objective on shares of Seagen from $171.00 to $170.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Barclays dropped their price objective on shares of Seagen from $174.00 to $136.00 and set an “equal weight” rating on the stock in a research note on Friday, October 28th. Five investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, Seagen presently has an average rating of “Moderate Buy” and an average target price of $161.21.

Insider Transactions at Seagen

In other news, insider Jean I. Liu sold 578 shares of Seagen stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $130.71, for a total transaction of $75,550.38. Following the transaction, the insider now owns 85,113 shares in the company, valued at approximately $11,125,120.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Jean I. Liu sold 578 shares of Seagen stock in a transaction on Tuesday, January 17th. The stock was sold at an average price of $130.71, for a total transaction of $75,550.38. Following the transaction, the insider now owns 85,113 shares in the company, valued at approximately $11,125,120.23. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David W. Gryska sold 7,500 shares of Seagen stock in a transaction on Friday, November 11th. The stock was sold at an average price of $129.10, for a total value of $968,250.00. Following the transaction, the director now owns 40,253 shares in the company, valued at approximately $5,196,662.30. The disclosure for this sale can be found here. Insiders have sold a total of 39,565 shares of company stock worth $5,253,309 in the last quarter. Company insiders own 27.30% of the company’s stock.

Seagen Stock Performance

Shares of SGEN stock opened at $136.85 on Wednesday. The stock’s fifty day moving average is $128.25 and its two-hundred day moving average is $143.10. The firm has a market capitalization of $25.41 billion, a P/E ratio of -39.67 and a beta of 0.55. Seagen Inc. has a fifty-two week low of $105.43 and a fifty-two week high of $183.00.

Seagen (NASDAQ:SGENGet Rating) last announced its quarterly earnings data on Thursday, October 27th. The biotechnology company reported ($1.03) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.92) by ($0.11). Seagen had a negative net margin of 34.16% and a negative return on equity of 21.56%. The firm had revenue of $510.30 million during the quarter, compared to analysts’ expectations of $469.25 million. On average, equities analysts forecast that Seagen Inc. will post -3.54 earnings per share for the current year.

Seagen Company Profile

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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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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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