Virtu Financial LLC Buys 160,314 Shares of Sesen Bio, Inc. (NASDAQ:SESN)

Virtu Financial LLC boosted its stake in shares of Sesen Bio, Inc. (NASDAQ:SESN) by 146.2% in the fourth quarter, HoldingsChannel reports. The firm owned 270,004 shares of the company’s stock after purchasing an additional 160,314 shares during the quarter. Virtu Financial LLC’s holdings in Sesen Bio were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. Two Sigma Securities LLC bought a new position in Sesen Bio during the third quarter worth $29,000. ExodusPoint Capital Management LP bought a new stake in shares of Sesen Bio in the fourth quarter valued at about $52,000. Charles Schwab Investment Management Inc. boosted its position in shares of Sesen Bio by 412.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 56,356 shares of the company’s stock valued at $77,000 after acquiring an additional 45,356 shares during the period. Jane Street Group LLC boosted its position in shares of Sesen Bio by 525.0% in the third quarter. Jane Street Group LLC now owns 131,752 shares of the company’s stock valued at $184,000 after acquiring an additional 110,671 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in shares of Sesen Bio by 95.1% in the fourth quarter. Bank of New York Mellon Corp now owns 133,117 shares of the company’s stock valued at $179,000 after acquiring an additional 64,896 shares during the period. 17.83% of the stock is owned by hedge funds and other institutional investors.

SESN opened at $2.59 on Thursday. Sesen Bio, Inc. has a twelve month low of $0.51 and a twelve month high of $3.57. The company has a 50-day simple moving average of $2.80 and a 200 day simple moving average of $1.79. The stock has a market capitalization of $437.86 million, a price-to-earnings ratio of -5.88 and a beta of 1.22.

Sesen Bio (NASDAQ:SESN) last posted its quarterly earnings data on Sunday, March 14th. The company reported ($0.11) earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of ($0.11). Sell-side analysts anticipate that Sesen Bio, Inc. will post -0.16 EPS for the current fiscal year.

SESN has been the subject of a number of recent research reports. Canaccord Genuity reissued a “buy” rating and issued a $7.00 target price on shares of Sesen Bio in a research report on Tuesday, March 16th. Zacks Investment Research raised shares of Sesen Bio from a “sell” rating to a “hold” rating in a research report on Wednesday, March 3rd. Finally, HC Wainwright boosted their target price on shares of Sesen Bio from $2.25 to $8.00 and gave the company a “buy” rating in a research report on Wednesday, February 17th.

Sesen Bio Profile

Sesen Bio, Inc, a late-stage clinical company, focuses on designing, engineering, developing, and commercializing targeted fusion protein therapeutics (TFPTs) for the treatment patients with cancer. The company's lead product candidates include Vicinium, a locally-administered targeted fusion protein that is in phase 3 clinical trials for the treatment of high-risk non-muscle invasive bladder cancer (NMIBC); and VB6-845d, a systemically-administered product candidate for use in the treatment of various types of EpCAM-positive solid tumors.

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Institutional Ownership by Quarter for Sesen Bio (NASDAQ:SESN)

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