Traders Purchase High Volume of Seagen Call Options (NASDAQ:SGEN)

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Seagen Inc. (NASDAQ:SGENGet Rating) was the recipient of unusually large options trading on Wednesday. Traders bought 12,777 call options on the stock. This represents an increase of 287% compared to the average daily volume of 3,303 call options.

Seagen Price Performance

Seagen stock opened at $141.55 on Thursday. Seagen has a 1-year low of $105.43 and a 1-year high of $192.79. The firm has a market capitalization of $26.11 billion, a P/E ratio of -35.12 and a beta of 0.62. The company’s 50-day moving average is $163.94 and its 200 day moving average is $152.75.

Seagen (NASDAQ:SGENGet Rating) last posted its quarterly earnings data on Thursday, July 28th. The biotechnology company reported ($0.73) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.82) by $0.09. The company had revenue of $497.50 million for the quarter, compared to analyst estimates of $437.77 million. Seagen had a negative net margin of 41.61% and a negative return on equity of 24.33%. The firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the prior year, the company posted ($0.47) EPS. Research analysts anticipate that Seagen will post -3.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on SGEN shares. SVB Leerink upped their target price on shares of Seagen from $152.00 to $160.00 and gave the stock an “outperform” rating in a report on Tuesday, September 13th. JMP Securities increased their price objective on shares of Seagen from $157.00 to $196.00 and gave the company a “market outperform” rating in a report on Friday, July 8th. TheStreet downgraded shares of Seagen from a “c-” rating to a “d+” rating in a report on Friday, September 16th. Royal Bank of Canada raised shares of Seagen from a “sector perform” rating to an “outperform” rating and increased their price objective for the company from $179.00 to $188.00 in a report on Monday, August 15th. Finally, Raymond James started coverage on shares of Seagen in a report on Wednesday, June 29th. They set an “outperform” rating and a $220.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $180.36.

Insider Transactions at Seagen

In other news, insider Roger D. Dansey sold 34,635 shares of the company’s stock in a transaction on Tuesday, June 28th. The stock was sold at an average price of $180.00, for a total value of $6,234,300.00. Following the completion of the sale, the insider now directly owns 62,084 shares in the company, valued at approximately $11,175,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Roger D. Dansey sold 34,635 shares of the company’s stock in a transaction on Tuesday, June 28th. The shares were sold at an average price of $180.00, for a total value of $6,234,300.00. Following the completion of the transaction, the insider now owns 62,084 shares of the company’s stock, valued at approximately $11,175,120. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Charles R. Romp sold 712 shares of the company’s stock in a transaction on Tuesday, July 5th. The stock was sold at an average price of $179.46, for a total transaction of $127,775.52. Following the completion of the transaction, the executive vice president now directly owns 48,771 shares of the company’s stock, valued at approximately $8,752,443.66. The disclosure for this sale can be found here. Insiders sold 44,972 shares of company stock worth $8,000,443 in the last three months. Corporate insiders own 27.30% of the company’s stock.

Hedge Funds Weigh In On Seagen

A number of institutional investors have recently modified their holdings of SGEN. Allworth Financial LP increased its position in shares of Seagen by 1,053.8% during the second quarter. Allworth Financial LP now owns 150 shares of the biotechnology company’s stock worth $27,000 after acquiring an additional 137 shares during the period. Glassman Wealth Services boosted its stake in shares of Seagen by 80.6% during the second quarter. Glassman Wealth Services now owns 177 shares of the biotechnology company’s stock valued at $31,000 after purchasing an additional 79 shares in the last quarter. Achmea Investment Management B.V. bought a new position in shares of Seagen during the first quarter valued at approximately $33,000. Covington Capital Management bought a new position in shares of Seagen during the second quarter valued at approximately $37,000. Finally, First Horizon Advisors Inc. boosted its stake in shares of Seagen by 1,615.4% during the second quarter. First Horizon Advisors Inc. now owns 223 shares of the biotechnology company’s stock valued at $38,000 after purchasing an additional 210 shares in the last quarter. 88.21% of the stock is owned by hedge funds and other institutional investors.

Seagen Company 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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