Biogen Inc. (NASDAQ:BIIB) Shares Sold by Hudson Bay Capital Management LP

Hudson Bay Capital Management LP reduced its position in Biogen Inc. (NASDAQ:BIIB) by 19.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 241,008 shares of the biotechnology company’s stock after selling 58,992 shares during the period. Hudson Bay Capital Management LP owned approximately 0.17% of Biogen worth $36,855,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Humankind Investments LLC lifted its stake in shares of Biogen by 32.5% during the fourth quarter. Humankind Investments LLC now owns 3,010 shares of the biotechnology company’s stock worth $460,000 after purchasing an additional 739 shares in the last quarter. Gotham Asset Management LLC lifted its position in Biogen by 111.2% during the 4th quarter. Gotham Asset Management LLC now owns 89,626 shares of the biotechnology company’s stock worth $13,706,000 after acquiring an additional 47,182 shares in the last quarter. Graham Capital Management L.P. acquired a new position in Biogen during the 4th quarter worth approximately $2,043,000. Focus Partners Wealth boosted its holdings in Biogen by 37.5% in the 4th quarter. Focus Partners Wealth now owns 3,737 shares of the biotechnology company’s stock worth $578,000 after acquiring an additional 1,020 shares during the period. Finally, Ethic Inc. grew its position in Biogen by 108.0% in the fourth quarter. Ethic Inc. now owns 14,912 shares of the biotechnology company’s stock valued at $2,280,000 after acquiring an additional 7,743 shares in the last quarter. Hedge funds and other institutional investors own 87.93% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BIIB. Robert W. Baird reduced their target price on shares of Biogen from $300.00 to $255.00 and set an “outperform” rating on the stock in a research report on Friday, May 2nd. Truist Financial reduced their price target on Biogen from $210.00 to $199.00 and set a “buy” rating for the company in a report on Tuesday, April 29th. Argus downgraded Biogen from a “buy” rating to a “hold” rating in a report on Friday, April 4th. Citigroup reduced their target price on Biogen from $160.00 to $145.00 and set a “neutral” rating for the company in a research note on Thursday, February 13th. Finally, Scotiabank cut their target price on shares of Biogen from $244.00 to $224.00 and set a “sector outperform” rating on the stock in a research note on Thursday, February 13th. Twenty analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $191.30.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’s stock in a transaction on 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 sale, the director now directly owns 11,318 shares of the company’s stock, valued at $1,697,926.36. The trade was a 43.63 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.16% of the stock is currently owned by company insiders.

Biogen Price Performance

Shares of NASDAQ BIIB opened at $118.20 on Friday. The company has a current ratio of 1.35, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. The firm has a 50-day moving average of $128.33 and a two-hundred day moving average of $144.38. Biogen Inc. has a twelve month low of $110.04 and a twelve month high of $238.00. The company has a market capitalization of $17.32 billion, a price-to-earnings ratio of 10.56, a PEG ratio of 1.51 and a beta of 0.12.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. During the same quarter last year, the firm posted $3.67 EPS. The company’s quarterly revenue was up 6.2% compared to the same quarter last year. As a group, analysts expect that Biogen Inc. will post 15.83 earnings per share for the current fiscal 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.