Arlington Partners LLC Sells 7,308 Shares of Biogen Inc. $BIIB

Key Points

• Arlington Partners LLC reduced its stake in Biogen Inc. by 26.4% during the second quarter, owning 20,417 shares worth approximately $2.56 million after selling 7,308 shares.
• Several large investors have also made recent changes to their Biogen positions, with 87.93% of the company's stock being owned by hedge funds and institutional investors.
• Analysts have mixed views on Biogen, with ratings ranging from "strong-buy" to "hold," and a consensus target price set at $181.65.

Arlington Partners LLC lessened its stake in Biogen Inc. (NASDAQ:BIIB - Free Report) by 26.4% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,417 shares of the biotechnology company's stock after selling 7,308 shares during the quarter. Arlington Partners LLC's holdings in Biogen were worth $2,564,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wedmont Private Capital grew its position in shares of Biogen by 3.8% during the 2nd quarter. Wedmont Private Capital now owns 2,190 shares of the biotechnology company's stock valued at $291,000 after buying an additional 81 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its position in shares of Biogen by 4.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock valued at $358,000 after acquiring an additional 92 shares in the last quarter. Quent Capital LLC increased its stake in Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $54,000 after buying an additional 93 shares during the period. CVA Family Office LLC increased its stake in Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock valued at $32,000 after buying an additional 96 shares during the period. Finally, Private Trust Co. NA increased its stake in shares of Biogen by 74.8% during the 1st quarter. Private Trust Co. NA now owns 229 shares of the biotechnology company's stock worth $31,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on BIIB shares. Wall Street Zen downgraded shares of Biogen from a "strong-buy" rating to a "buy" rating in a report on Saturday. Piper Sandler raised their price objective on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research report on Friday, September 12th. Wedbush reiterated a "neutral" rating and set a $121.00 price target on shares of Biogen in a research report on Thursday, June 12th. Morgan Stanley decreased their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating for the company in a report on Friday, August 1st. Finally, HC Wainwright lifted their price target on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a research note on Friday, August 1st. Ten equities research analysts have rated the stock with a Buy rating and twenty-one have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $181.65.

Insider Transactions at Biogen

In other news, insider Priya Singhal sold 517 shares of the stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $133.55, for a total value of $69,045.35. Following the completion of the transaction, the insider owned 5,772 shares of the company's stock, valued at approximately $770,850.60. This represents a 8.22% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $135.00, for a total transaction of $300,105.00. Following the completion of the transaction, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. This trade represents a 25.99% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.18% of the company's stock.

Biogen Stock Performance

Shares of BIIB stock traded down $1.84 on Monday, hitting $140.66. The company's stock had a trading volume of 1,445,805 shares, compared to its average volume of 1,618,855. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.79 and a current ratio of 2.50. The stock's 50 day moving average is $135.16 and its 200-day moving average is $130.65. Biogen Inc. has a fifty-two week low of $110.04 and a fifty-two week high of $199.99. The company has a market capitalization of $20.62 billion, a PE ratio of 13.45, a PEG ratio of 1.12 and a beta of 0.11.

Biogen (NASDAQ:BIIB - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The biotechnology company reported $5.47 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business's revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research 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.