Biogen Inc. (NASDAQ:BIIB) Stock Position Lowered by Sei Investments Co.

Sei Investments Co. decreased its position in Biogen Inc. (NASDAQ:BIIB) by 69.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 32,694 shares of the biotechnology company’s stock after selling 75,258 shares during the period. Sei Investments Co.’s holdings in Biogen were worth $4,999,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. State Street Corp lifted its holdings in Biogen by 3.5% in the 3rd quarter. State Street Corp now owns 7,344,960 shares of the biotechnology company’s stock valued at $1,423,747,000 after acquiring an additional 248,942 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Biogen by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 3,613,020 shares of the biotechnology company’s stock worth $698,062,000 after purchasing an additional 47,055 shares in the last quarter. Pacer Advisors Inc. lifted its stake in Biogen by 13,574.7% during the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company’s stock valued at $407,919,000 after purchasing an additional 2,648,024 shares during the last quarter. Amundi lifted its stake in Biogen by 35.6% during the fourth quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after purchasing an additional 319,478 shares during the last quarter. Finally, RA Capital Management L.P. boosted its holdings in Biogen by 20.6% during the third quarter. RA Capital Management L.P. now owns 1,184,456 shares of the biotechnology company’s stock worth $229,595,000 after buying an additional 202,317 shares in the last quarter. Institutional investors own 87.93% of the company’s stock.

Biogen Price Performance

Shares of Biogen stock opened at $132.03 on Wednesday. Biogen Inc. has a 1-year low of $128.51 and a 1-year high of $238.00. The firm has a fifty day simple moving average of $141.63 and a 200-day simple moving average of $158.82. 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 stock has a market capitalization of $19.33 billion, a price-to-earnings ratio of 11.80, a PEG ratio of 1.51 and a beta of 0.01.

Biogen (NASDAQ:BIIB) last released its quarterly earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share (EPS) for the quarter, beating 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%. On average, sell-side analysts expect that Biogen Inc. will post 15.83 earnings per share for the current year.

Insider Buying and Selling at Biogen

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on BIIB shares. Bank of America reiterated a “neutral” rating and set a $178.00 price objective on shares of Biogen in a research report on Tuesday, December 10th. Royal Bank of Canada reduced their target price on Biogen from $231.00 to $225.00 and set an “outperform” rating for the company in a report on Thursday, February 13th. Stifel Nicolaus lowered Biogen from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a research report on Monday, December 16th. Jefferies Financial Group downgraded Biogen from a “buy” rating to a “hold” rating and cut their price objective for the stock from $250.00 to $180.00 in a report on Monday, December 9th. Finally, William Blair reiterated an “outperform” rating on shares of Biogen in a report on Monday, January 13th. Seventeen investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $213.33.

Biogen Company Profile

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.