Published on 12 Oct 2021 on Insider Monkey via Yahoo Finance

Is Seagen Inc. (SGEN) A Good Stock To Buy?

With the second-quarter round of 13F filings behind us it is time to take a look at the stocks in which some of the best money managers in the world preferred to invest or sell heading into the third quarter of 2021. One of these stocks was Seagen Inc. (NASDAQ:SGEN).

Is SGEN a good stock to buy? Seagen Inc. (NASDAQ:SGEN) was in 37 hedge funds' portfolios at the end of the second quarter of 2021. The all time high for this statistic is 39. SGEN shareholders have witnessed a decrease in support from the world's most elite money managers of late. There were 39 hedge funds in our database with SGEN positions at the end of the first quarter. Our calculations also showed that SGEN isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

Hedge funds' reputation as shrewd investors has been tarnished in the last decade as their hedged returns couldn't keep up with the unhedged returns of the market indices. Hedge funds have more than $3.5 trillion in assets under management, so you can't expect their entire portfolios to beat the market by large margins. Our research was able to identify in advance a select group of hedge fund holdings that outperformed the S&P 500 ETFs by more than 79 percentage points since March 2017 (see the details here). So you can still find a lot of gems by following hedge funds' moves today.