Recent Insider Activity Suggests Potential Gains for Seagen Inc. (SGEN)


Seagen Inc.’s recently made public that its Chief Technical Officer HIMES VAUGHN B unloaded Company’s shares for reported $1.81 million on Sep 07. In the deal valued at $205.76 per share,8,785 shares were sold. As a result of this transaction, HIMES VAUGHN B now holds 51,439 shares worth roughly $ 10.66 million.

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Then, DANSEY ROGER D sold 4,029 shares, generating $833,866 in total proceeds. Upon selling the shares at $206.97, the President, R&D & CMO now owns 111,768 shares.

Before that, SIMPSON TODD E sold 2,122 shares. Seagen Inc. shares valued at $439,182 were divested by the Chief Financial Officer at a price of $206.97 per share. As a result of the transaction, SIMPSON TODD E now holds 128,803 shares, worth roughly $26.68 million.

Raymond James upgraded its Seagen Inc. [SGEN] rating to a Strong buy from a an Outperform in a research note published on Monday, February 16, 2023; the price target was increased to $175 from $155. PT values the company’s stock at a premium of -18.38 to its Monday closing price.

Price Performance Review of SGEN

On Monday, Seagen Inc. [NASDAQ:SGEN] saw its stock fall -0.59% to $207.17. On the same session, the stock had its day’s lowest price of $206.93, but rose to a high of $208.37. Over the last five days, the stock has lost -0.46%. Seagen Inc. shares have risen nearly 61.21% since the year began. Nevertheless, the stocks have risen 46.61% over the past one year. While a 52-week high of $210.50 was reached on 09/01/23, a 52-week low of $116.08 was recorded on 01/10/23. SMA at 50 days reached $198.18, while 200 days put it at $178.64. A total of 0.64 million shares were traded, compared to the trading of 1.65 million shares in the previous session.

Levels Of Support And Resistance For SGEN Stock

The 24-hour chart illustrates a support level at 206.61, which if violated will result in even more drops to 206.05. On the upside, there is a resistance level at 208.05. A further resistance level may holdings at 208.93. The Relative Strength Index (RSI) on the 14-day chart is 63.34, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.65, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 48.30%. Stochastics %K at 63.37% indicates the stock is a holding.

How much short interest is there in Seagen Inc.?

A steep rise in short interest was recorded in Seagen Inc. stocks on Aug 14, 2023, growing by 0.61 million shares to a total of 6.2 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 5.59 million shares. There was a rise of 9.84%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 4.42% of the overall stock float, the days-to-cover ratio (short ratio) rose to 6.55.

Seagen Inc. [SGEN] – Who Are The Largest Shareholders?

In filings from Baker Bros. Advisors LP, it is revealed that the company now owns 44,554,162 shares, or roughly 23.74% of the outstanding SGEN shares. In other words, the investor’s shares have fallen by -2,359,607 from its previous 13-F filing of 46913769.0. Additionally, The Vanguard Group, Inc. increased 1.18% of its stake after which the total value it holdings stand at $2,679,871,523, while Pentwater Capital Management LP added 448.69% of its stake to hold $1.98 billion in the firm. Over the last quarter, Capital Research & Management Co sold -3,188,031 shares of Seagen Inc., while BlackRock Fund Advisors sold 477,794 shares. At present, Capital Research & Management Co is holding 6,417,224 shares valued at $1.32 billion. PRIMECAP Management Co. owned 6,038,808 shares of the company at the time of its most recent 13F filing, worth $1.24 billion.

According to FactSet, Seagen Inc.’s share price will average $228.88 in the next year, based on opinions of analysts polled by the firm. This is up nearly 9.88 percent from its previous closing price of $208.40. Analysts expect Seagen Inc. stock to reach the higher price of $229.00, while the lowest price estimate is $228.00. However, 15 analysts have rated SGEN stock as a Hold in their predictions for 2023.


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