Highland Capital Management LLC trimmed its holdings in Seagen Inc. (NASDAQ:SGEN) by 8.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,088 shares of the biotechnology company’s stock after selling 995 shares during the quarter. Highland Capital Management LLC’s holdings in Seagen were worth $1,540,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Norges Bank acquired a new stake in Seagen during the 4th quarter worth about $231,102,000. California Public Employees Retirement System bought a new stake in shares of Seagen in the 4th quarter valued at approximately $174,897,000. BlackRock Inc. grew its stake in shares of Seagen by 7.2% in the 4th quarter. BlackRock Inc. now owns 12,520,079 shares of the biotechnology company’s stock valued at $2,192,768,000 after buying an additional 840,428 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Seagen by 4,461.8% in the 4th quarter. Renaissance Technologies LLC now owns 201,313 shares of the biotechnology company’s stock valued at $35,258,000 after buying an additional 196,900 shares in the last quarter. Finally, Morgan Stanley grew its stake in shares of Seagen by 122.7% in the 4th quarter. Morgan Stanley now owns 345,181 shares of the biotechnology company’s stock valued at $60,454,000 after buying an additional 190,186 shares in the last quarter. 87.15% of the stock is owned by institutional investors.

NASDAQ SGEN opened at $142.24 on Tuesday. The firm has a market cap of $25.79 billion, a P/E ratio of 56.00 and a beta of 1.11. Seagen Inc. has a one year low of $134.10 and a one year high of $213.94. The stock’s 50-day moving average is $144.23 and its 200-day moving average is $167.66.

Seagen (NASDAQ:SGEN) last posted its quarterly earnings results on Thursday, April 29th. The biotechnology company reported ($0.67) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.59) by ($0.08). Seagen had a return on equity of 20.46% and a net margin of 25.34%. As a group, analysts anticipate that Seagen Inc. will post 3.19 EPS for the current fiscal year.

In other Seagen news, insider Vaughn B. Himes sold 12,000 shares of the company’s stock in a transaction dated Tuesday, March 2nd. The stock was sold at an average price of $153.22, for a total value of $1,838,640.00. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Clay B. Siegall sold 12,602 shares of the company’s stock in a transaction dated Friday, April 9th. The shares were sold at an average price of $141.96, for a total value of $1,788,979.92. The disclosure for this sale can be found here. Insiders have sold a total of 83,308 shares of company stock valued at $12,765,502 in the last three months. 31.10% of the stock is owned by insiders.

A number of brokerages have issued reports on SGEN. William Blair reaffirmed an “outperform” rating on shares of Seagen in a research report on Tuesday, February 9th. Barclays decreased their target price on Seagen from $177.00 to $168.00 and set an “equal weight” rating for the company in a research report on Friday, February 12th. Needham & Company LLC began coverage on Seagen in a research report on Friday. They set a “buy” rating and a $254.00 target price for the company. Royal Bank of Canada decreased their target price on Seagen from $186.00 to $169.00 and set a “sector perform” rating for the company in a research report on Tuesday, February 16th. Finally, SVB Leerink decreased their target price on Seagen from $200.00 to $192.00 and set an “outperform” rating for the company in a research report on Friday, February 12th. Six analysts have rated the stock with a hold rating, nine have issued a buy rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $188.92.

Seagen Profile

Seagen Inc, a biotechnology company, develops and commercializes therapies for the treatment of cancer in the United States and internationally. The company markets 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 metastatic urothelial cancers; 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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