Harfst & Associates Inc. Has $544,000 Stock Holdings in Seagen Inc. (NASDAQ:SGEN)

Harfst & Associates Inc. trimmed its position in Seagen Inc. (NASDAQ:SGEN) by 10.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,451 shares of the biotechnology company’s stock after selling 385 shares during the quarter. Harfst & Associates Inc.’s holdings in Seagen were worth $544,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its stake in Seagen by 0.4% during the 1st quarter. BlackRock Inc. now owns 12,569,833 shares of the biotechnology company’s stock valued at $1,745,448,000 after purchasing an additional 49,754 shares during the period. Geode Capital Management LLC boosted its position in shares of Seagen by 5.2% in the first quarter. Geode Capital Management LLC now owns 1,566,964 shares of the biotechnology company’s stock valued at $217,297,000 after acquiring an additional 78,138 shares during the period. Franklin Resources Inc. grew its stake in shares of Seagen by 16.8% in the first quarter. Franklin Resources Inc. now owns 1,528,065 shares of the biotechnology company’s stock worth $212,299,000 after acquiring an additional 219,334 shares during the last quarter. Waddell & Reed Financial Inc. increased its position in Seagen by 20.1% during the first quarter. Waddell & Reed Financial Inc. now owns 982,364 shares of the biotechnology company’s stock worth $136,411,000 after acquiring an additional 164,422 shares during the period. Finally, UBS Asset Management Americas Inc. raised its stake in Seagen by 209.0% during the 1st quarter. UBS Asset Management Americas Inc. now owns 966,114 shares of the biotechnology company’s stock valued at $134,155,000 after purchasing an additional 653,479 shares during the last quarter. 88.20% of the stock is owned by institutional investors and hedge funds.

In other Seagen news, EVP Charles R. Romp sold 703 shares of the stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $158.41, for a total value of $111,362.23. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Clay B. Siegall sold 15,268 shares of the business’s stock in a transaction dated Friday, July 2nd. The stock was sold at an average price of $156.36, for a total value of $2,387,304.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 122,534 shares of company stock valued at $19,967,680. 27.60% of the stock is owned by corporate insiders.

Several research analysts have recently issued reports on the stock. Piper Sandler restated a “hold” rating and set a $160.00 price objective on shares of Seagen in a report on Monday. Morgan Stanley cut their price target on Seagen from $173.00 to $167.00 and set an “equal weight” rating for the company in a report on Friday, July 16th. Finally, SVB Leerink reduced their price objective on Seagen from $192.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday. Six equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Seagen presently has an average rating of “Buy” and a consensus target price of $184.58.

Shares of NASDAQ SGEN opened at $165.01 on Wednesday. The company has a 50-day moving average of $155.06 and a two-hundred day moving average of $150.68. Seagen Inc. has a 1-year low of $133.20 and a 1-year high of $213.94. The company has a market cap of $30.02 billion, a PE ratio of 50.62 and a beta of 0.82.

Seagen (NASDAQ:SGEN) last announced its quarterly earnings data on Thursday, July 29th. The biotechnology company reported ($0.47) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.61) by $0.14. Seagen had a return on equity of 19.02% and a net margin of 25.06%. The firm had revenue of $388.48 million during the quarter, compared to analyst estimates of $355.62 million. As a group, research analysts expect that Seagen Inc. will post -2.33 earnings per share for the current year.

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.

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Institutional Ownership by Quarter for Seagen (NASDAQ:SGEN)

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