Sesen Bio (SESN) Sees Unusually-High Trading Volume

Sesen Bio Inc (NASDAQ:SESN) saw unusually-high trading volume on Thursday . Approximately 5,161,678 shares changed hands during trading, an increase of 141% from the previous session’s volume of 2,142,549 shares.The stock last traded at $1.86 and had previously closed at $1.54.

SESN has been the topic of several analyst reports. Jefferies Financial Group initiated coverage on Sesen Bio in a research report on Monday, July 23rd. They set a “buy” rating and a $4.00 target price on the stock. Zacks Investment Research downgraded Sesen Bio from a “buy” rating to a “hold” rating in a research report on Wednesday, July 25th. Finally, ValuEngine upgraded Sesen Bio from a “hold” rating to a “buy” rating in a research report on Wednesday. Two equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $3.17.

The stock has a market cap of $120.14 million, a price-to-earnings ratio of -1.65 and a beta of 2.88.

Sesen Bio (NASDAQ:SESN) last released its earnings results on Tuesday, August 14th. The company reported ($0.16) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.13) by ($0.03). On average, equities research analysts expect that Sesen Bio Inc will post -0.39 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Hikari Power Ltd purchased a new position in Sesen Bio during the third quarter valued at $141,000. Bank of New York Mellon Corp purchased a new position in shares of Sesen Bio in the second quarter valued at about $147,000. MYDA Advisors LLC purchased a new position in shares of Sesen Bio in the second quarter valued at about $195,000. DRW Securities LLC purchased a new position in shares of Sesen Bio in the second quarter valued at about $293,000. Finally, Northern Trust Corp purchased a new position in shares of Sesen Bio in the second quarter valued at about $315,000. Institutional investors own 52.09% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: This report was originally reported by WKRB News and is owned by of WKRB News. If you are viewing this report on another domain, it was copied illegally and republished in violation of US & international trademark and copyright laws. The legal version of this report can be accessed at https://www.wkrb13.com/2018/11/09/sesen-bio-sesn-sees-unusually-high-trading-volume.html.

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.

Featured Article: Hedge Funds – How They Work For Investors

Receive News & Ratings for Sesen Bio Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Sesen Bio and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply