Sesen Bio Inc (NASDAQ:SESN)’s share price reached a new 52-week low during trading on Friday . The company traded as low as $0.76 and last traded at $0.75, with a volume of 63333 shares traded. The stock had previously closed at $0.79.

A number of research firms have recently commented on SESN. Zacks Investment Research downgraded shares of Sesen Bio from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. HC Wainwright downgraded shares of Sesen Bio from a “buy” rating to a “neutral” rating and set a $1.00 price objective for the company. in a report on Friday, January 4th. Finally, ValuEngine downgraded shares of Sesen Bio from a “buy” rating to a “hold” rating in a report on Wednesday, January 2nd. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and two have given a buy rating to the company’s stock. Sesen Bio presently has an average rating of “Hold” and a consensus price target of $2.33.

The firm has a market cap of $63.52 million, a PE ratio of -0.68 and a beta of 2.80.

Sesen Bio (NASDAQ:SESN) last announced its quarterly earnings results on Thursday, November 8th. The company reported ($0.18) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.10) by ($0.08). As a group, equities research analysts predict that Sesen Bio Inc will post -0.54 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently made changes to their positions in SESN. Hikari Power Ltd bought a new stake in shares of Sesen Bio in the third quarter worth $141,000. BlackRock Inc. lifted its position in shares of Sesen Bio by 5.2% in the third quarter. BlackRock Inc. now owns 1,408,316 shares of the company’s stock worth $3,027,000 after purchasing an additional 69,423 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Sesen Bio in the second quarter worth $147,000. Bridgeway Capital Management Inc. bought a new stake in shares of Sesen Bio in the third quarter worth $215,000. Finally, Northern Trust Corp bought a new stake in shares of Sesen Bio in the second quarter worth $315,000. 48.17% of the stock is currently owned by hedge funds and other institutional investors.

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About Sesen Bio (NASDAQ:SESN)

Sesen Bio, Inc, a late-stage clinical company, develops next-generation antibody-drug conjugate therapies for patients with cancer. It develops its products based on its Targeted Protein Therapeutics (TPTs) platform. The company's lead product candidate is Vicinium, a fusion protein that is in Phase III clinical trial for the treatment of high-grade non-muscle invasive bladder cancer.

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