Shares of Sesen Bio Inc (NASDAQ:SESN) saw unusually-strong trading volume on Thursday . Approximately 5,161,678 shares were traded during mid-day 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.

Several analysts recently weighed in on SESN shares. Zacks Investment Research lowered Sesen Bio from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Jefferies Financial Group started coverage on Sesen Bio in a report on Monday, July 23rd. They issued a “buy” rating and a $4.00 price objective for the company. Finally, ValuEngine raised Sesen Bio from a “hold” rating to a “buy” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $3.17.

The firm has a market cap of $118.60 million, a price-to-earnings ratio of -1.61 and a beta of 2.88.

Sesen Bio (NASDAQ:SESN) last announced its quarterly earnings data on Thursday, November 8th. The company reported ($0.18) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.10) by ($0.08). As a group, research analysts anticipate that Sesen Bio Inc will post -0.39 EPS for the current fiscal year.

Hedge funds have recently modified their holdings of the business. Hikari Power Ltd acquired a new position in Sesen Bio in the third quarter valued at approximately $141,000. Bank of New York Mellon Corp acquired a new position in Sesen Bio in the second quarter valued at approximately $147,000. MYDA Advisors LLC acquired a new position in Sesen Bio in the second quarter valued at approximately $195,000. DRW Securities LLC acquired a new position in Sesen Bio in the second quarter valued at approximately $293,000. Finally, Northern Trust Corp acquired a new position in Sesen Bio in the second quarter valued at approximately $315,000. Institutional investors own 52.09% of the company’s stock.

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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.

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