Axa S.A. cut its stake in Biogen Inc. (NASDAQ:BIIB – Free Report) by 82.3% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,002 shares of the biotechnology company’s stock after selling 335,836 shares during the quarter. Axa S.A.’s holdings in Biogen were worth $16,692,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in BIIB. Plato Investment Management Ltd increased its holdings in Biogen by 82.8% during the 1st quarter. Plato Investment Management Ltd now owns 117 shares of the biotechnology company’s stock worth $25,000 after acquiring an additional 53 shares during the period. Livelsberger Financial Advisory purchased a new position in shares of Biogen during the 4th quarter valued at $26,000. Rise Advisors LLC bought a new position in shares of Biogen in the first quarter worth $27,000. Itau Unibanco Holding S.A. purchased a new stake in shares of Biogen in the second quarter worth $33,000. Finally, EntryPoint Capital LLC purchased a new stake in shares of Biogen in the first quarter worth $36,000. 87.93% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other Biogen news, insider Priya Singhal sold 431 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $204.22, for a total value of $88,018.82. Following the completion of the transaction, the insider now directly owns 5,316 shares in the company, valued at approximately $1,085,633.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.16% of the stock is currently owned by insiders.
Analysts Set New Price Targets
Read Our Latest Stock Report on BIIB
Biogen Stock Performance
Biogen stock opened at $194.67 on Friday. The company has a current ratio of 2.29, a quick ratio of 1.48 and a debt-to-equity ratio of 0.40. The firm has a market cap of $28.34 billion, a P/E ratio of 24.30, a P/E/G ratio of 1.97 and a beta of -0.06. Biogen Inc. has a 1-year low of $188.78 and a 1-year high of $269.43. The firm has a 50-day moving average of $204.76 and a 200-day moving average of $214.29.
Biogen (NASDAQ:BIIB – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The biotechnology company reported $5.28 earnings per share for the quarter, topping the consensus estimate of $4.00 by $1.28. Biogen had a return on equity of 15.71% and a net margin of 11.98%. The business had revenue of $2.47 billion during the quarter, compared to analysts’ expectations of $2.39 billion. During the same quarter last year, the business posted $4.02 EPS. The business’s revenue was up .4% on a year-over-year basis. Sell-side analysts expect that Biogen Inc. will post 16.12 EPS for the current year.
About Biogen
Biogen Inc discovers, develops, manufactures, and delivers therapies for treating neurological and neurodegenerative diseases in the United States, Europe, Germany, Asia, and internationally. The company provides TECFIDERA, VUMERITY, AVONEX, PLEGRIDY, TYSABRI, and FAMPYRA for multiple sclerosis (MS); SPINRAZA for spinal muscular atrophy; ADUHELM to treat Alzheimer's disease; FUMADERM to treat plaque psoriasis; BENEPALI, an etanercept biosimilar referencing ENBREL; IMRALDI, an adalimumab biosimilar referencing HUMIRA; FLIXABI, an infliximab biosimilar referencing REMICADE; and BYOOVIZ, a ranibizumab biosimilar referencing LUCENTIS.
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