The stock of Sesen Bio, Inc. (NASDAQ:SESN) is now priced at $0.71 and the shares are 0.01 points up or 0.31% higher compared to its previous closing price of $0.7. The stock had 825878 contracts set over the past session. SESN shares’ daily volume is compared to its average trading volume at 975540 shares. However, it has a float of 106 million and although its performance was 1.01% over the week, it’s one to watch. SESN share price recently placing at $0.695 to $0.74. However, some brokerage firms have priced the stock below the average, including one that has called $2.25.
The shorts are running away from the Sesen Bio, Inc. stock, with the latest data on short interest released on June 15, 2020, showing that short interest numbers in the SESN shares have declined. Short interest in the stock represents just 1.68% of its float, but the volume has dropped by -108011. The volume of shorted shares dropped to 1.787 million from 1.895 million shares over the last two weeks. The average intraday trading volume has been 769399 shares, which means that days to cover moved to roughly 2.322884.
In the last trading session, Sesen Bio, Inc. (NASDAQ:SESN) raised by $0.0071 over the week and lost -$0.0769 on its 20-day. The stock’s high in the recent session is lower when compared to its 52-week high of $1.54. The stock recorded its established 52-week high on 10/28/19.
Since 03/17/20, the stock has traded to a low of $0.37 at 91.11%, an encouraging piece of data likely to interest most investors out to exploit the stock’s recent surge. The stock has a beta allocation of 1.12. Being above 1 means that the stock’s volatility is higher than the market and traders are keenly watching it.
Looking at current readings, Sesen Bio, Inc.’s two-week RSI is 44.02. This suggests that the stock is neutral at the moment and that SESN shares’ price movement remains stable. The stochastic readings are equally revealing at 19.54% meaning the SESN share price is currently in overbought territory.
The technical chart shows that the SESN stock will likely settle at between $0.7331 and $0.759 per share. However, if the stock dips below $0.6881, then its market would become much weaker. Any downside could see the stock price sliding to levels as low as $0.669.
Currently, the stock is trading in the red of MACD, with a reading of -0.0033. Investors always pay attention to any move above or below the zero-line, mainly because the indicator points to the position of the stock’s short-term average relative to its long-term measure. A MACD -a reading above the zero line means that the short-term is above the long-term average. This scenario implies that there is an upward momentum. The opposite is true when the MACD falls below the zero-line.
Analysts at H.C. Wainwright raised their recommendation for SESN from Neutral to Buy in June 11 review while maintain their target price of $3.
The average rating for the SESN equity is 1.33 and is currently gathering a bullish momentum. Of 3 analysts tracking Sesen Bio, Inc. polled by Reuters, 0 rated SESN as a hold. The remaining 3 analysts were split evenly. However, the split wasn’t equal as a majority (3) rated it as a buy or strong buy. 0 analyst advised investors against buying the stock or to sell if they own any of the stock.