Rafferty Asset Management LLC Sells 18,639 Shares of Seagen Inc. (NASDAQ:SGEN)

Rafferty Asset Management LLC cut its holdings in shares of Seagen Inc. (NASDAQ:SGENGet Rating) by 21.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 66,401 shares of the biotechnology company’s stock after selling 18,639 shares during the period. Rafferty Asset Management LLC’s holdings in Seagen were worth $11,749,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in SGEN. SG Americas Securities LLC lifted its holdings in Seagen by 39.2% during the first quarter. SG Americas Securities LLC now owns 7,699 shares of the biotechnology company’s stock worth $1,109,000 after acquiring an additional 2,168 shares in the last quarter. Arizona State Retirement System lifted its holdings in Seagen by 0.7% during the first quarter. Arizona State Retirement System now owns 37,632 shares of the biotechnology company’s stock worth $5,421,000 after acquiring an additional 260 shares in the last quarter. Shell Asset Management Co. lifted its holdings in Seagen by 5.3% during the first quarter. Shell Asset Management Co. now owns 8,143 shares of the biotechnology company’s stock worth $1,173,000 after acquiring an additional 409 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings in Seagen by 3.5% during the first quarter. Envestnet Asset Management Inc. now owns 50,941 shares of the biotechnology company’s stock worth $7,338,000 after acquiring an additional 1,736 shares in the last quarter. Finally, Commonwealth Equity Services LLC lifted its holdings in shares of Seagen by 7.7% in the first quarter. Commonwealth Equity Services LLC now owns 7,201 shares of the biotechnology company’s stock valued at $1,037,000 after purchasing an additional 512 shares in the last quarter. 88.21% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the business’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 transaction of $1,350,000.00. Following the transaction, the chief executive officer now owns 97,539 shares of the company’s stock, valued at $13,167,765. The sale was disclosed in a document filed with the SEC, which is available through this link. In other Seagen news, CEO Roger D. Dansey sold 10,000 shares of the business’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 transaction of $1,350,000.00. Following the transaction, the chief executive officer now owns 97,539 shares of the company’s stock, valued at $13,167,765. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Jean I. Liu sold 8,333 shares of the business’s stock in a transaction that occurred on Thursday, November 17th. The stock was sold at an average price of $131.05, for a total value of $1,092,039.65. Following the transaction, the insider now directly owns 85,691 shares in the company, valued at approximately $11,229,805.55. The disclosure for this sale can be found here. Insiders have sold a total of 25,833 shares of company stock valued at $3,410,290 over the last 90 days. 27.30% of the stock is currently owned by insiders.

Seagen Price Performance

NASDAQ SGEN traded down $0.57 during trading on Thursday, reaching $123.96. 460,732 shares of the company’s stock were exchanged, compared to its average volume of 1,072,262. The business has a 50 day moving average price of $132.99 and a 200-day moving average price of $150.14. The stock has a market capitalization of $23.01 billion, a P/E ratio of -35.93 and a beta of 0.60. Seagen Inc. has a fifty-two week low of $105.43 and a fifty-two week high of $183.00.

Analyst Ratings Changes

SGEN has been the topic of a number of research reports. Oppenheimer cut their price target on Seagen from $208.00 to $188.00 and set an “outperform” rating on the stock in a report on Friday, October 28th. BMO Capital Markets upgraded Seagen from a “market perform” rating to an “outperform” rating and boosted their price target for the company from $177.00 to $178.00 in a report on Tuesday, October 11th. Truist Financial initiated coverage on Seagen in a report on Monday. They issued a “hold” rating and a $135.00 price target on the stock. Needham & Company LLC boosted their price target on Seagen from $180.00 to $188.00 and gave the company a “buy” rating in a report on Wednesday, July 27th. Finally, Morgan Stanley boosted their price target on Seagen from $170.00 to $171.00 and gave the company an “overweight” rating in a report on Friday, October 28th. Five research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $160.67.

Seagen Profile

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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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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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