Sesen Bio Inc. [NASDAQ: SESN] traded at a high on 07/07/22, posting a 10.47 gain after which it closed the day’ session at $0.93. The company report on May 9, 2022 that Sesen Bio Reports First Quarter 2022 Financial Results and Business Update.
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Strong balance sheet of $170 million in cash and cash equivalents as of March 31, 2022, expected to fund current operating plan into the fourth quarter of 2024.
Sesen Bio (Nasdaq: SESN), a late-stage clinical company developing targeted fusion protein therapeutics for the treatment of patients with cancer, today reported operating results for the first quarter ended March 31, 2022. During the quarter, the Company continued to engage with the US Food and Drug Administration (FDA) to identify an anticipated regulatory path toward potential resubmission of a Biologics License Application (BLA) for Vicineum™ for the treatment of non-muscle invasive bladder cancer (NMIBC). The Company has also initiated a process to review strategic alternatives with the goal of maximizing shareholder value.
The results of the trading session contributed to over 3374830 shares changing hands. Over the past one week, the price volatility of Sesen Bio Inc. stands at 8.41% while the volatility over the past one month is 12.93%.
The market cap for SESN stock reached $188.64 million, with 199.46 million shares outstanding and 198.44 million shares in the current float. Compared to the average trading volume of 5.66M shares, SESN reached a trading volume of 3374830 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about Sesen Bio Inc. [SESN]?
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for SESN shares is $1.78 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on SESN stock is a recommendation set at 2.30. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
H.C. Wainwright have made an estimate for Sesen Bio Inc. shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on August 16, 2021. The new note on the price target was released on June 11, 2019, representing the official price target for Sesen Bio Inc. stock.
The Average True Range (ATR) for Sesen Bio Inc. is set at 0.08, with the Price to Sales ratio for SESN stock in the period of the last 12 months amounting to 8.50. The Price to Book ratio for the last quarter was 1.07, with the Price to Cash per share for the same quarter was set at 0.84.
How has SESN stock performed recently?
Sesen Bio Inc. [SESN] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 17.04. With this latest performance, SESN shares gained by 36.74% in over the last four-week period, additionally plugging by 10.34% over the last 6 months – not to mention a drop of -75.96% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for SESN stock in for the last two-week period is set at 67.80, with the RSI for the last a single of trading hit 72.17, and the three-weeks RSI is set at 65.04 for Sesen Bio Inc. [SESN]. The present Moving Average for the last 50 days of trading for this stock 0.6095, while it was recorded at 0.8457 for the last single week of trading, and 0.7654 for the last 200 days.
Sesen Bio Inc. [SESN]: Deeper insight into the fundamentals
Operating Margin for any stock indicates how profitable investing would be, and Sesen Bio Inc. [SESN] shares currently have an operating margin of -106.09 and a Gross Margin at +99.68. Sesen Bio Inc.’s Net Margin is presently recorded at -1.27.
Return on Equity for this stock declined to -0.41, with Return on Assets sitting at -0.13.
Sesen Bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 21.30 and a Current Ratio set at 21.30.
Insider trade positions for Sesen Bio Inc. [SESN]
There are presently around $42 million, or 22.60% of SESN stock, in the hands of institutional investors. The top three institutional holders of SESN stocks are: BLACKROCK INC. with ownership of 13,387,891, which is approximately -0.747% of the company’s market cap and around 1.00% of the total institutional ownership; VANGUARD GROUP INC, holding 12,694,776 shares of the stock with an approximate value of $11.84 million in SESN stocks shares; and STATE STREET CORP, currently with $4.05 million in SESN stock with ownership of nearly 1.219% of the company’s market capitalization.
Positions in Sesen Bio Inc. stocks held by institutional investors increased at the end of August and at the time of the August reporting period, where 25 institutional holders increased their position in Sesen Bio Inc. [NASDAQ:SESN] by around 2,283,025 shares. Additionally, 48 investors decreased positions by around 6,004,597 shares, while 30 investors held positions by with 36,494,545 shares. The mentioned changes placed institutional holdings at 44,782,167 shares, according to the latest SEC report filing. SESN stock had 9 new institutional investments in for a total of 1,659,396 shares, while 17 institutional investors sold positions of 1,785,256 shares during the same period.