Truist Financial Begins Coverage on Seagen (NASDAQ:SGEN)

Truist Financial began coverage on shares of Seagen (NASDAQ:SGENGet Rating) in a research report released on Monday morning, MarketBeat Ratings reports. The firm issued a hold rating and a $135.00 price objective on the biotechnology company’s stock.

Other analysts have also issued research reports about the company. BMO Capital Markets upgraded Seagen from a market perform rating to an outperform rating and upped their price objective for the company from $177.00 to $178.00 in a report on Tuesday, October 11th. TheStreet lowered Seagen from a c- rating to a d+ rating in a research report on Friday, September 16th. Morgan Stanley boosted their target price on Seagen from $170.00 to $171.00 and gave the stock an overweight rating in a research report on Friday, October 28th. Cowen cut their target price on Seagen to $145.00 in a research report on Tuesday, November 1st. Finally, Oppenheimer cut their target price on Seagen from $208.00 to $188.00 and set an outperform rating on the stock in a research report on Friday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, Seagen presently has an average rating of Moderate Buy and a consensus target price of $160.67.

Seagen Stock Down 0.5 %

Shares of Seagen stock opened at $123.96 on Monday. The firm has a market cap of $23.01 billion, a price-to-earnings ratio of -35.93 and a beta of 0.60. The business has a fifty day simple moving average of $132.65 and a 200-day simple moving average of $149.96. Seagen has a fifty-two week low of $105.43 and a fifty-two week high of $183.00.

Insider Activity at Seagen

In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $135.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief executive officer now owns 97,539 shares of the company’s stock, valued at approximately $13,167,765. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, October 17th. The stock was sold at an average price of $135.00, for a total value of $1,350,000.00. Following the completion of the transaction, the chief executive officer now owns 97,539 shares of the company’s stock, valued at approximately $13,167,765. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director David W. Gryska sold 7,500 shares of the company’s stock in a transaction that occurred on Friday, November 11th. The shares were sold at an average price of $129.10, for a total value of $968,250.00. Following the completion of the transaction, the director now directly owns 40,253 shares of the company’s stock, valued at approximately $5,196,662.30. The disclosure for this sale can be found here. Insiders sold a total of 25,833 shares of company stock worth $3,410,290 in the last 90 days. 27.30% of the stock is owned by company insiders.

Hedge Funds Weigh In On Seagen

Hedge funds have recently modified their holdings of the stock. Allworth Financial LP raised its holdings in shares of 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 in the last quarter. Glassman Wealth Services raised its holdings in shares of 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 in the last quarter. Guardian Wealth Advisors LLC acquired a new position in shares of Seagen in the 3rd quarter worth approximately $26,000. Covington Capital Management acquired a new position in shares of Seagen in the 2nd quarter worth approximately $37,000. Finally, First Horizon Advisors Inc. raised its holdings in shares of 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 in the last quarter. 88.21% of the stock is owned by institutional investors and hedge funds.

About Seagen

(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.

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