The Vanguard Group, Inc. recently announced the acquisition of new stake in Sesen Bio Inc. (NASDAQ:SESN). The institutional investor has increased its shareholding in the Healthcare company by 1.01% to 10.78 million shares with purchase of 0.11 million shares. This fresh investment now brings its stake to 5.34% valued currently at $6.01 million. In addition, BlackRock Fund Advisors raised its holdings by 0.13 million to 4.12 million shares. And Renaissance Technologies LLC has lifted its position by 71.95% or 0.44 million shares – to 1.06 million shares.
With over 4.63 million Sesen Bio Inc. (SESN) shares trading Tuesday and a closing price of $0.56 on the day, the dollar volume was approximately $2.59 million. The shares have shown a negative half year performance of -8.63% and its price on 11/29/22 gained nearly 4.67%. Currently, there are 200.46M common shares owned by the public and among those 190.60M shares have been available to trade.
Will You Miss Out On This Growth Stock Boom?
A new megatrend in the fintech market is well underway. Mobile payments are projected to boom into a massive $12 trillion market by 2028. According to Motley Fool this growth stock could "deliver huge returns." Not only in the immediate future but also over the next decade. Especially since the man behind this company is a serial entrepreneur who has been wildly successful over the years.
And this is just one of our
5 Best Growth Stocks To Own For 2023.
Sponsored
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 1 analysts who have offered their price forecasts for SESN have a consensus price objective of $0.60. The analysts have set the share’s price value over the next 12 months at a high of $0.60 and a low of $0.60. But an upside of 6.67% will see the stock hit the forecast high price target while median target price for the stock is $0.60.
Insiders at the company have transacted a total of 10 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 10 of these insider trades were purchases, accounting for 2,083,800 shares. Insider sales of the common stock occurred on 0 occasions, with total insider shares sold totaling 0 shares.
The top 3 mutual fund holders in Sesen Bio Inc. are Vanguard Total Stock Market Index, Vanguard Extended Market Index Fu, and iShares Biotechnology ETF. Vanguard Total Stock Market Index owns 6.36 million shares of the company’s stock, all valued at over $3.55 million. iShares Biotechnology ETF bought 29725.0 shares to bring its total holdings to over 1.54 million shares at a value of $0.86 million. iShares Biotechnology ETF now owns shares totaling to 0.76% of the shares outstanding.
Shares of Sesen Bio Inc. (NASDAQ: SESN) opened at $0.51, down -$0.03 from a prior closing price of $0.54. However, the script later moved the day high at 0.5782, up 4.67%. The company’s stock has a 5-day price change of 1.25% and -17.65% over the past three months. SESN shares are trading -31.29% year to date (YTD), with the 12-month market performance down to -47.66% lower. It has a 12-month low price of $0.37 and touched a high of $1.13 over the same period. SESN has an average intraday trading volume of 1.05 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 1.84%, 9.43%, and -8.38% respectively.
Institutional ownership of Sesen Bio Inc. (NASDAQ: SESN) shares accounts for 12.90% of the company’s 200.46M shares outstanding. Mutual fund holders own 4.83%, while other institutional holders and individual stakeholders account for 8.00% and 1.51% respectively.
It has a market capitalization of $114.62M and a beta (3y monthly) value of 0.98. The earnings-per-share (ttm) stands at -$0.02. Price movements for the stock have been influenced by the stock’s volatility, which stands at 8.01% over the week and 6.99% over the month.
Analysts forecast that Sesen Bio Inc. (SESN) will achieve an EPS of -$0.15 for the current quarter, -$0.05 for the next quarter and -$0.1 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.08. Comparatively, EPS for the current quarter was $0.36 a year ago. Earnings per share for the fiscal year are expected to increase by 99.00%, and 74.50% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Sesen Bio Inc. (SESN) as a “Hold” at a consensus score of 3.00. Specifically, 0 Wall Street analysts polled rate the stock as a buy, while 1 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
H.C. Wainwright coverage for the Sesen Bio Inc. (SESN) stock in a research note released on June 11, 2019 offered a Buy rating with a price target of $3.
