Sesen Bio Inc (NASDAQ:SESN) shares fell 5.7% on Wednesday . The company traded as low as $0.79 and last traded at $0.82. 2,853,295 shares were traded during trading, a decline of 37% from the average session volume of 4,541,666 shares. The stock had previously closed at $0.87.
A number of research firms recently weighed in on SESN. Zacks Investment Research downgraded Sesen Bio from a “buy” rating to a “hold” rating in a research note on Thursday, October 18th. HC Wainwright downgraded Sesen Bio from a “buy” rating to a “neutral” rating and set a $1.00 price target on the stock. in a research note on Friday, January 4th. Finally, ValuEngine downgraded Sesen Bio from a “buy” rating to a “hold” rating in a research note on Wednesday, January 2nd. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. Sesen Bio presently has a consensus rating of “Hold” and an average target price of $2.33.
The company has a market capitalization of $63.52 million, a P/E ratio of -0.71 and a beta of 2.80.
Sesen Bio (NASDAQ:SESN) last issued its quarterly earnings data on Thursday, November 8th. The company reported ($0.18) EPS for the quarter, missing the consensus estimate of ($0.10) by ($0.08). On average, equities research analysts anticipate that Sesen Bio Inc will post -0.54 EPS for the current fiscal year.
Several institutional investors have recently modified their holdings of 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 worth $5,415,000 after purchasing an additional 454,950 shares during the last quarter. Vanguard Group Inc. grew its holdings 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 in the last quarter. BlackRock Inc. grew its holdings in shares of Sesen Bio by 5.2% in the third quarter. BlackRock Inc. now owns 1,408,316 shares of the company’s stock valued at $3,027,000 after acquiring an additional 69,423 shares in the last quarter. Nexthera Capital LP bought a new position in shares of Sesen Bio in the third quarter valued at approximately $2,531,000. Finally, Point72 Asset Management L.P. bought a new position in shares of Sesen Bio in the second quarter valued at approximately $1,804,000. 48.17% of the stock is owned by hedge funds and other institutional investors.
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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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