ValuEngine upgraded shares of Sesen Bio (NASDAQ:SESN) from a hold rating to a buy rating in a research note published on Wednesday morning.
Several other research firms also recently weighed in on SESN. Zacks Investment Research downgraded Sesen Bio from a buy rating to a hold rating in a research report on Tuesday, September 25th. Jefferies Financial Group assumed coverage on Sesen Bio in a research report on Monday, July 23rd. They issued a buy rating and a $4.00 target price for the company. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Sesen Bio presently has an average rating of Buy and a consensus price target of $3.17.
Shares of NASDAQ:SESN traded down $0.07 during midday trading on Wednesday, reaching $1.79. 1,345,685 shares of the company’s stock were exchanged, compared to its average volume of 736,364. The company has a market capitalization of $118.60 million, a price-to-earnings ratio of -1.61 and a beta of 2.88. Sesen Bio has a fifty-two week low of $0.62 and a fifty-two week high of $3.50.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Hikari Power Ltd acquired a new position in Sesen Bio in the 3rd quarter valued at about $141,000. Bank of New York Mellon Corp acquired a new position in Sesen Bio in the 2nd quarter valued at about $147,000. MYDA Advisors LLC acquired a new position in Sesen Bio in the 2nd quarter valued at about $195,000. DRW Securities LLC acquired a new position in Sesen Bio in the 2nd quarter valued at about $293,000. Finally, Northern Trust Corp acquired a new position in Sesen Bio in the 2nd quarter valued at about $315,000. 52.09% of the stock is owned by institutional investors.
Sesen Bio Company Profile
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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