Sesen Bio (NASDAQ:SESN) Trading 5.5% Higher

Sesen Bio Inc (NASDAQ:SESN)’s share price traded up 5.5% on Friday . The company traded as high as $1.18 and last traded at $1.16, 748,200 shares were traded during mid-day trading. A decline of 66% from the average session volume of 2,168,925 shares. The stock had previously closed at $1.10.

A number of analysts recently weighed in on the stock. Zacks Investment Research raised shares of Sesen Bio from a “sell” rating to a “hold” rating and set a $1.25 price objective on the stock in a research report on Wednesday, August 14th. ValuEngine raised shares of Sesen Bio from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. HC Wainwright raised shares of Sesen Bio from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $1.00 to $3.00 in a research report on Tuesday, June 11th. Finally, Laidlaw lowered shares of Sesen Bio from a “buy” rating to a “hold” rating in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $2.42.

The company has a market capitalization of $111.39 million, a PE ratio of -2.11 and a beta of 0.75. The stock’s 50-day moving average is $1.12 and its two-hundred day moving average is $1.30.

Sesen Bio (NASDAQ:SESN) last posted its quarterly earnings data on Thursday, August 8th. The company reported ($0.13) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.09) by ($0.04). Equities research analysts anticipate that Sesen Bio Inc will post -0.31 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of SESN. CVI Holdings LLC purchased a new stake in Sesen Bio in the 2nd quarter worth about $12,169,000. Monashee Investment Management LLC purchased a new position in shares of Sesen Bio during the second quarter worth approximately $300,000. Wells Fargo & Company MN increased its position in shares of Sesen Bio by 5,692.4% during the second quarter. Wells Fargo & Company MN now owns 99,976 shares of the company’s stock worth $150,000 after acquiring an additional 98,250 shares during the period. BlackRock Inc. increased its position in shares of Sesen Bio by 3.8% during the second quarter. BlackRock Inc. now owns 1,453,644 shares of the company’s stock worth $2,180,000 after acquiring an additional 53,605 shares during the period. Finally, Bank of New York Mellon Corp increased its position in shares of Sesen Bio by 60.3% during the second quarter. Bank of New York Mellon Corp now owns 109,349 shares of the company’s stock worth $164,000 after acquiring an additional 41,128 shares during the period. 28.68% of the stock is currently owned by 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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