Charles Schwab Investment Management Inc. Buys 11,323 Shares of Seagen Inc. (NASDAQ:SGEN)

Charles Schwab Investment Management Inc. raised its stake in Seagen Inc. (NASDAQ:SGEN) by 2.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 497,719 shares of the biotechnology company’s stock after purchasing an additional 11,323 shares during the period. Charles Schwab Investment Management Inc. owned 0.27% of Seagen worth $95,791,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Norges Bank bought a new stake in shares of Seagen during the fourth quarter worth about $281,065,000. Barclays PLC increased its position in shares of Seagen by 836.5% during the second quarter. Barclays PLC now owns 2,069,120 shares of the biotechnology company’s stock worth $398,222,000 after acquiring an additional 1,848,180 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of Seagen by 76.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 1,580,816 shares of the biotechnology company’s stock worth $320,069,000 after acquiring an additional 685,883 shares in the last quarter. Segantii Capital Management Ltd bought a new stake in shares of Seagen during the second quarter worth about $126,061,000. Finally, Cercano Management LLC bought a new stake in shares of Seagen during the second quarter worth about $61,402,000. 84.26% of the stock is owned by institutional investors.

Seagen Trading Down 0.1 %

Shares of SGEN stock opened at $211.85 on Tuesday. Seagen Inc. has a 12 month low of $116.08 and a 12 month high of $217.51. The stock has a market capitalization of $39.76 billion, a P/E ratio of -52.83 and a beta of 0.35. The firm’s 50 day moving average is $212.98 and its 200 day moving average is $202.35.

Seagen (NASDAQ:SGEN) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.82) by ($0.33). Seagen had a negative return on equity of 28.06% and a negative net margin of 32.61%. The firm had revenue of $648.65 million during the quarter, compared to analysts’ expectations of $635.10 million. During the same quarter in the prior year, the company earned ($1.03) earnings per share. The business’s revenue for the quarter was up 27.1% compared to the same quarter last year. On average, equities analysts predict that Seagen Inc. will post -3.86 EPS for the current year.

Insiders Place Their Bets

In other Seagen news, insider Vaughn B. Himes sold 8,785 shares of the stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $213.32, for a total value of $1,874,016.20. Following the sale, the insider now directly owns 42,574 shares in the company, valued at approximately $9,081,885.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Vaughn B. Himes sold 8,785 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $213.32, for a total value of $1,874,016.20. Following the transaction, the insider now owns 42,574 shares of the company’s stock, valued at approximately $9,081,885.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel G. Welch sold 3,315 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $209.08, for a total transaction of $693,100.20. Following the completion of the transaction, the director now directly owns 6,794 shares in the company, valued at approximately $1,420,489.52. The disclosure for this sale can be found here. Insiders have sold 42,512 shares of company stock worth $8,912,670 in the last three months. 25.90% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SGEN. StockNews.com began coverage on shares of Seagen in a research report on Sunday. They issued a “hold” rating for the company. Morgan Stanley reaffirmed an “equal weight” rating and issued a $229.00 price objective on shares of Seagen in a research report on Thursday, August 3rd. Truist Financial reaffirmed a “hold” rating and issued a $229.00 price objective on shares of Seagen in a research report on Wednesday, October 18th. Finally, TheStreet cut shares of Seagen from a “c-” rating to a “d+” rating in a research note on Friday, November 3rd. Twelve investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, Seagen presently has a consensus rating of “Hold” and a consensus price target of $193.00.

Seagen Company Profile

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. It 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 adult patients with 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.