Sunday, June 26, 2022

Sesen Bio Inc. (SESN) may enjoy gains as insiders got busy in the recent days

H.C. Wainwright downgraded its Sesen Bio Inc. [SESN] rating to a Neutral from a a Buy in a research note published on Tuesday. A number of analysts have revised their coverage, including H.C. Wainwright’s analysts, who increased its forecast for the stock in mid June from “a Neutral” to “a Buy”.

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Price Performance Review of SESN

On Tuesday, Sesen Bio Inc. [NASDAQ:SESN] saw its stock jump 16.71% to $0.89. On the same session, the stock had its day’s lowest price of $0.79, but rose to a high of $0.8924. Over the last five days, the stock has gained 37.48%. Sesen Bio Inc. shares have risen nearly 8.83% since the year began. Nevertheless, the stocks have fallen -78.73% over the past one year. While a 52-week high of $6.04 was reached on 06/17/22, a 52-week low of $0.37 was recorded on 05/02/22. SMA at 50 days reached $0.5357, while 200 days put it at $0.7719. A total of 7.44 million shares were traded, compared to the trading of 3.76 million shares in the previous session.

Levels Of Support And Resistance For SESN Stock

The 24-hour chart illustrates a support level at 0.8205, which if violated will result in even more drops to 0.7541. On the upside, there is a resistance level at 0.9229. A further resistance level may holdings at 0.9589. The Relative Strength Index (RSI) on the 14-day chart is 68.05, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.0669, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bullish at 15.75%. Stochastics %K at 65.28% indicates the stock is a holding.

Sesen Bio Inc. [SESN] – Who Are The Largest Shareholders?

In filings from BlackRock Fund Advisors, it is revealed that the company now owns 12,396,711 shares, or roughly 6.22% of the outstanding SESN shares. In other words, the investor’s shares have fallen by -104,798 from its previous 13-F filing of 12501509.0. Additionally, The Vanguard Group, Inc. increased 2.98% of its stake after which the total value it holdings stand at $7,544,760, while SSgA Funds Management, Inc. added 1.22% of its stake to hold $2.66 million in the firm. Over the last quarter, Geode Capital Management LLC sold -290,483 shares of Sesen Bio Inc., while Northern Trust Investments, Inc. sold -60,472 shares. At present, Fidelity Management & Research Co is holding 683,781 shares valued at $0.42 million. BlackRock Investment Management L owned 523,884 shares of the company at the time of its most recent 13F filing, worth $0.32 million.

According to FactSet, Sesen Bio Inc.’s share price will average $1.78 in the next year, based on opinions of analysts polled by the firm. This is up nearly 134.21 percent from its previous closing price of $0.76. Analysts expect Sesen Bio Inc. stock to reach the higher price of $3.00, while the lowest price estimate is $0.56.

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