Sphera Funds Management LTD. lowered its stake in shares of Sesen Bio Inc (NASDAQ:SESN) by 73.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 630,000 shares of the company’s stock after selling 1,747,068 shares during the period. Sphera Funds Management LTD.’s holdings in Sesen Bio were worth $1,355,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Hikari Power Ltd purchased a new stake in shares of Sesen Bio during the 3rd quarter worth approximately $141,000. Bank of New York Mellon Corp purchased a new position in Sesen Bio in the 2nd quarter valued at approximately $147,000. Bridgeway Capital Management Inc. purchased a new position in Sesen Bio in the 3rd quarter valued at approximately $215,000. MYDA Advisors LLC purchased a new position in Sesen Bio in the 2nd quarter valued at approximately $195,000. Finally, DRW Securities LLC purchased a new position in Sesen Bio in the 2nd quarter valued at approximately $293,000. Institutional investors own 48.17% of the company’s stock.
A number of research analysts recently weighed in on SESN shares. Zacks Investment Research lowered shares of Sesen Bio from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. ValuEngine upgraded shares of Sesen Bio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. Finally, HC Wainwright set a $3.00 price objective on shares of Sesen Bio and gave the company a “buy” rating in a research note on Monday, November 12th. One equities research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $3.00.
Sesen Bio (NASDAQ:SESN) last released its quarterly earnings data on Thursday, November 8th. The company reported ($0.18) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.10) by ($0.08). As a group, equities analysts predict that Sesen Bio Inc will post -0.54 earnings per share for the current fiscal year.
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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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