According to Zacks, “Sesen Bio Inc. is a late-stage company developing next-generation antibody-drug conjugate therapies for patients with cancer. The company’s product portfolio includes Vicinium(TM) which is in its clinical trial, treats high-grade non-muscle invasive bladder cancer. Sesen Bio Inc., formerly known as Eleven Biotherapeutics, is based in Massachusetts, United States. “
A number of other equities research analysts have also issued reports on the company. Canaccord Genuity reiterated a buy rating and issued a $7.00 price target on shares of Sesen Bio in a research note on Tuesday, March 16th. HC Wainwright increased their price target on Sesen Bio from $2.25 to $8.00 and gave the stock a buy rating in a research note on Wednesday, February 17th.
Sesen Bio (NASDAQ:SESN) last released its quarterly earnings results on Sunday, May 9th. The company reported ($0.35) earnings per share for the quarter, missing the consensus estimate of ($0.08) by ($0.27). As a group, analysts predict that Sesen Bio will post -0.16 EPS for the current year.
Hedge funds have recently modified their holdings of the business. Renaissance Technologies LLC increased its stake in Sesen Bio by 44.3% in the 4th quarter. Renaissance Technologies LLC now owns 2,911,018 shares of the company’s stock worth $3,930,000 after buying an additional 894,100 shares in the last quarter. Bank of New York Mellon Corp grew its position in shares of Sesen Bio by 95.1% during the fourth quarter. Bank of New York Mellon Corp now owns 133,117 shares of the company’s stock valued at $179,000 after purchasing an additional 64,896 shares in the last quarter. Stratos Wealth Partners LTD. grew its position in shares of Sesen Bio by 31.7% during the fourth quarter. Stratos Wealth Partners LTD. now owns 263,300 shares of the company’s stock valued at $355,000 after purchasing an additional 63,300 shares in the last quarter. ExodusPoint Capital Management LP purchased a new position in shares of Sesen Bio during the fourth quarter valued at about $52,000. Finally, Virtu Financial LLC grew its position in shares of Sesen Bio by 146.2% during the fourth quarter. Virtu Financial LLC now owns 270,004 shares of the company’s stock valued at $365,000 after purchasing an additional 160,314 shares in the last quarter. Institutional investors and hedge funds own 17.83% of the company’s stock.
Sesen Bio Company Profile
Sesen Bio, Inc, a late-stage clinical company, focuses on designing, engineering, developing, and commercializing targeted fusion protein therapeutics (TFPTs) for the treatment patients with cancer. The company's lead product candidates include Vicinium, a locally-administered targeted fusion protein that is in Phase III clinical trials for the treatment of BCG-unresponsive non-muscle invasive bladder cancer (NMIBC); and VB6-845d, a product candidate for use in the treatment of various types of an anti-epithelial cell adhesion molecule (EpCAM)-positive solid tumors.
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