Sesen Bio (SESN) Hits New 52-Week Low at $0.69

Sesen Bio Inc (NASDAQ:SESN) shares hit a new 52-week low during trading on Thursday . The company traded as low as $0.69 and last traded at $0.69, with a volume of 72010 shares trading hands. The stock had previously closed at $0.75.

A number of research analysts have commented on SESN shares. HC Wainwright set a $3.00 target price on Sesen Bio and gave the company a “buy” rating in a research note on Wednesday, November 28th. Zacks Investment Research upgraded Sesen Bio from a “hold” rating to a “buy” rating and set a $2.00 price target for the company in a research note on Wednesday, October 17th. Finally, ValuEngine upgraded Sesen Bio from a “hold” rating to a “buy” rating in a research note on Wednesday, November 7th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $2.33.

The company has a market capitalization of $53.38 million, a PE ratio of -0.64 and a beta of 2.80.

Sesen Bio (NASDAQ:SESN) last released its quarterly earnings results on Thursday, November 8th. The company reported ($0.18) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.10) by ($0.08). On average, sell-side analysts predict that Sesen Bio Inc will post -0.54 earnings per share for the current year.

Large investors have recently made changes to their positions in the stock. Hikari Power Ltd bought a new stake in Sesen Bio during the 3rd quarter valued at approximately $141,000. Bank of New York Mellon Corp bought a new stake in Sesen Bio during the 2nd quarter valued at approximately $147,000. Bridgeway Capital Management Inc. bought a new stake in Sesen Bio during the 3rd quarter valued at approximately $215,000. Northern Trust Corp bought a new stake in Sesen Bio during the 2nd quarter valued at approximately $315,000. Finally, Dimensional Fund Advisors LP bought a new stake in Sesen Bio during the 3rd quarter valued at approximately $388,000. Hedge funds and other institutional investors own 48.17% of the company’s stock.

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About Sesen Bio (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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