Rafferty Asset Management LLC Has $8.07 Million Stock Holdings in Seagen Inc. (NASDAQ:SGEN)

Rafferty Asset Management LLC lifted its stake in Seagen Inc. (NASDAQ:SGEN) by 18.6% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 47,534 shares of the biotechnology company’s stock after acquiring an additional 7,467 shares during the quarter. Rafferty Asset Management LLC’s holdings in Seagen were worth $8,071,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently bought and sold shares of SGEN. Amundi Pioneer Asset Management Inc. increased its stake in shares of Seagen by 11.2% in the first quarter. Amundi Pioneer Asset Management Inc. now owns 192,129 shares of the biotechnology company’s stock worth $14,072,000 after acquiring an additional 19,394 shares during the last quarter. Sei Investments Co. increased its position in Seagen by 1.7% during the second quarter. Sei Investments Co. now owns 9,797 shares of the biotechnology company’s stock worth $1,461,000 after buying an additional 163 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its holdings in Seagen by 21.4% during the second quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 25,101 shares of the biotechnology company’s stock valued at $3,963,000 after acquiring an additional 4,418 shares during the period. Toronto Dominion Bank boosted its holdings in Seagen by 480.8% during the second quarter. Toronto Dominion Bank now owns 101,815 shares of the biotechnology company’s stock valued at $16,074,000 after acquiring an additional 84,285 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Seagen by 31.3% during the second quarter. Principal Financial Group Inc. now owns 167,046 shares of the biotechnology company’s stock valued at $26,373,000 after acquiring an additional 39,801 shares during the period. 88.95% of the stock is currently owned by institutional investors and hedge funds.

In other news, EVP Jean I. Liu sold 34,876 shares of the stock in a transaction on Monday, November 1st. The shares were sold at an average price of $177.41, for a total transaction of $6,187,351.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd E. Simpson sold 33,564 shares of the stock in a transaction on Friday, October 29th. The stock was sold at an average price of $180.00, for a total transaction of $6,041,520.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 490,179 shares of company stock valued at $80,054,761. Corporate insiders own 27.60% of the company’s stock.

Shares of NASDAQ:SGEN opened at $137.09 on Friday. The company has a market cap of $25.07 billion, a price-to-earnings ratio of -74.10 and a beta of 0.77. The firm has a 50 day simple moving average of $159.52 and a 200 day simple moving average of $160.30. Seagen Inc. has a one year low of $133.20 and a one year high of $199.00.

Seagen (NASDAQ:SGEN) last announced its quarterly earnings results on Thursday, October 28th. The biotechnology company reported ($1.61) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by ($1.05). Seagen had a negative net margin of 19.06% and a negative return on equity of 9.88%. The business had revenue of $424.60 million during the quarter, compared to analyst estimates of $384.83 million. During the same quarter last year, the company posted $3.50 earnings per share. The company’s revenue was down 60.0% compared to the same quarter last year. As a group, equities analysts predict that Seagen Inc. will post -3.54 earnings per share for the current fiscal year.

Several research firms recently weighed in on SGEN. Piper Sandler increased their target price on shares of Seagen from $160.00 to $165.00 and gave the company a “neutral” rating in a research note on Thursday, October 28th. Royal Bank of Canada raised their price target on shares of Seagen from $148.00 to $154.00 and gave the stock a “sector perform” rating in a research note on Monday, September 27th. Zacks Investment Research lowered shares of Seagen from a “hold” rating to a “sell” rating and set a $188.00 price objective for the company. in a report on Tuesday, November 2nd. Wolfe Research assumed coverage on shares of Seagen in a report on Monday, November 8th. They set a “market perform” rating and a $195.00 price objective for the company. Finally, Oppenheimer raised their price objective on shares of Seagen from $196.00 to $198.00 and gave the stock an “outperform” rating in a report on Friday, October 29th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $185.92.

Seagen Company Profile

Seagen Inc is a biotechnology company, which engages in the development and commercialization of antibody-based therapies for the treatment of cancer. Its products include Adcetris and Padcev. The firm is also advancing a pipeline of novel therapies for solid tumors and blood-related cancers. The company was founded by Clay B.

Featured Story: What is a Backdoor Roth IRA?

Want to see what other hedge funds are holding SGEN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Seagen Inc. (NASDAQ:SGEN).

Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

Receive News & Ratings for Seagen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Seagen and related companies with MarketBeat.com's FREE daily email newsletter.