Sesen Bio Inc (NASDAQ:SESN)’s stock price traded down 6.3% on Friday . The company traded as low as $1.50 and last traded at $1.50. 2,340,583 shares were traded during trading, a decline of 12% from the average session volume of 2,652,809 shares. The stock had previously closed at $1.60.
A number of equities analysts have weighed in on the stock. HC Wainwright reiterated a “hold” rating and set a $1.00 target price on shares of Sesen Bio in a research report on Tuesday, May 14th. ValuEngine upgraded shares of Sesen Bio from a “sell” rating to a “hold” rating in a research report on Wednesday, May 22nd. Finally, Zacks Investment Research lowered shares of Sesen Bio from a “buy” rating to a “hold” rating in a research report on Saturday, May 18th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the stock. Sesen Bio presently has an average rating of “Hold” and an average target price of $2.50.
The firm has a fifty day moving average price of $1.78.
Institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. raised its stake in shares of Sesen Bio by 22.0% in the third quarter. Vanguard Group Inc. now owns 2,518,891 shares of the company’s stock valued at $5,415,000 after acquiring an additional 454,950 shares during the last quarter. Pura Vida Investments LLC bought a new position in shares of Sesen Bio in the fourth quarter valued at approximately $284,000. Two Sigma Investments LP bought a new position in shares of Sesen Bio in the fourth quarter valued at approximately $34,000. Jane Street Group LLC bought a new position in shares of Sesen Bio in the fourth quarter valued at approximately $41,000. Finally, Millennium Management LLC increased its holdings in shares of Sesen Bio by 32.5% in the fourth quarter. Millennium Management LLC now owns 1,099,897 shares of the company’s stock valued at $1,562,000 after purchasing an additional 269,863 shares in the last quarter. 24.14% of the stock is currently owned by hedge funds and other institutional investors.
Sesen Bio Company Profile (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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