Biogen Inc. (NASDAQ:BIIB) Shares Sold by Atria Investments Inc

Atria Investments Inc lowered its position in shares of Biogen Inc. (NASDAQ:BIIB) by 48.5% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,823 shares of the biotechnology company’s stock after selling 1,715 shares during the quarter. Atria Investments Inc’s holdings in Biogen were worth $279,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. lifted its holdings in Biogen by 13,574.7% in the 4th quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Van ECK Associates Corp raised its holdings in shares of Biogen by 977.9% in the 4th quarter. Van ECK Associates Corp now owns 1,066,460 shares of the biotechnology company’s stock worth $163,083,000 after purchasing an additional 967,523 shares in the last quarter. Erste Asset Management GmbH acquired a new stake in Biogen during the third quarter valued at approximately $55,826,000. State Street Corp boosted its holdings in Biogen by 3.5% during the third quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock worth $1,423,747,000 after buying an additional 248,942 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Biogen by 122.1% in the third quarter. Two Sigma Advisers LP now owns 427,600 shares of the biotechnology company’s stock worth $82,886,000 after buying an additional 235,100 shares during the last quarter. 87.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the company’s stock in a transaction dated Friday, March 7th. The shares were sold at an average price of $150.02, for a total transaction of $1,314,175.20. Following the completion of the sale, the director now directly owns 11,318 shares in the company, valued at $1,697,926.36. This represents a 43.63 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.16% of the company’s stock.

Biogen Stock Performance

BIIB stock opened at $143.54 on Tuesday. The firm has a 50 day moving average of $142.90 and a two-hundred day moving average of $163.58. Biogen Inc. has a 12 month low of $128.51 and a 12 month high of $238.00. The company has a market capitalization of $21.01 billion, a price-to-earnings ratio of 12.83, a P/E/G ratio of 1.51 and a beta of 0.01. The company has a quick ratio of 0.90, a current ratio of 1.35 and a debt-to-equity ratio of 0.27.

Biogen (NASDAQ:BIIB) last issued its quarterly earnings data on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.43 by $0.01. Biogen had a net margin of 16.87% and a return on equity of 14.98%. As a group, equities analysts anticipate that Biogen Inc. will post 15.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

BIIB has been the subject of a number of recent research reports. Mizuho cut their price objective on Biogen from $251.00 to $207.00 and set an “outperform” rating for the company in a research report on Thursday, November 21st. William Blair reaffirmed an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Citigroup decreased their price target on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research report on Thursday, February 13th. StockNews.com downgraded Biogen from a “strong-buy” rating to a “buy” rating in a report on Saturday, December 28th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $135.00 price objective (down from $138.00) on shares of Biogen in a research note on Tuesday, February 18th. Seventeen research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $213.33.

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.