Alaska State Department of Revenue holds $1.52 million in Seagen Inc. (NASDAQ:SGEN)


The Alaska State Department of Revenue reduced its position in Seagen Inc. (NASDAQ: SGENGet a rating) by 9.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The company held 10,537 shares of the biotech company after selling 1,045 shares during the period. The Alaska State Department of Revenue holdings in Seagen were worth $1,517,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also been buying and selling shares of the company recently. CIBC Asset Management Inc. increased its holdings in Seagen by 13.2% in the fourth quarter. CIBC Asset Management Inc. now owns 27,800 shares of the biotech company worth $4,298,000 after purchasing 3,246 additional shares during the period. GSA Capital Partners LLP acquired a new equity stake in Seagen during the fourth quarter valued at $414,000. Mackenzie Financial Corp increased its holdings of Seagen shares by 2.3% during the fourth quarter. Mackenzie Financial Corp now owns 87,014 shares of the biotech company worth $13,452,000 after acquiring 1,991 additional shares during the period. PDT Partners LLC acquired a new stake in shares of Seagen during the fourth quarter at a value of $417,000. Finally, Alpha Paradigm Partners LLC acquired a new equity stake in Seagen during the fourth quarter at a value of $90,000. Institutional investors hold 90.37% of the company’s shares.

A number of equity research analysts have recently commented on SGEN shares. Morgan Stanley raised its price target on Seagen shares from $170.00 to $173.00 and gave the stock an “overweight” rating in a Tuesday, April 12 report. JMP Securities restated a “buy” rating and set a price target of $157.00 on Seagen shares in a Wednesday, June 8 report. BMO Capital Markets launched coverage on Seagen shares in a research report on Thursday, June 23. They issued a “market performance” rating and a target price of $169.00 for the company. Oppenheimer raised his price target on Seagen shares from $160.00 to $208.00 and gave the company an “outperform” rating in a Tuesday, June 21 research report. To finish, StockNews.com launched coverage on Seagen shares in a research report on Thursday, March 31. They issued a “holding” rating for the company. Five analysts gave the stock a hold rating and eight gave the company a buy rating. According to data from MarketBeat.com, Seagen currently has an average rating of “Moderate Buy” and an average price target of $169.15.

Shares of NMS opened at $180.11 on Friday. The company has a 50-day moving average of $144.33 and a 200-day moving average of $141.47. Seagen Inc. has a one-year low of $105.43 and a one-year high of $192.79. The company has a market capitalization of $33.15 billion, a PE ratio of -47.77 and a beta of 0.85.

Seagen (NASDAQ: SGENGet a rating) last reported quarterly earnings data on Thursday, April 28. The biotech company reported ($0.74) EPS for the quarter, beating consensus analyst estimates of ($0.98) by $0.24. Seagen had a negative net margin of 41.32% and a negative return on equity of 21.86%. The company posted revenue of $426.50 million in the quarter, versus a consensus estimate of $401.75 million. During the same quarter last year, the company posted ($0.67) EPS. The company’s quarterly revenue increased 28.5% year over year. As a group, analysts expect Seagen Inc. to post -3.5 earnings per share for the current year.

In related news, Insider Roger D. Dansey sold 34,635 Seagen shares in a trade dated Tuesday, June 28. The shares were sold at an average price of $180.00, for a total transaction of $6,234,300.00. Following the completion of the sale, the insider now owns 62,084 shares of the company, valued at approximately $11,175,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, accessible via this link. Also, CEO Clay B. Siegall sold 17,043 Seagen shares in a trade dated Thursday, April 7. The stock was sold at an average price of $154.23, for a total transaction of $2,628,541.89. As a result of the sale, the CEO now directly owns 667,945 shares of the company, valued at approximately $103,017,157.35. Disclosure of this sale can be found here. Over the past three months, insiders have sold 88,226 shares of the company valued at $13,751,052. Insiders hold 27.30% of the shares of the company.

Seagen Company Profile (Get a rating)

Seagen Inc, a biotechnology company, develops and markets 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’s 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.

Further reading

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Institutional ownership by quarter for Seagen (NASDAQ:SGEN)



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Sallie R. Loera