Biogen Inc. $BIIB Shares Sold by Jump Financial LLC

Key Points

• Jump Financial LLC reduced its holdings in Biogen Inc. by **22.7%**, now owning **73,129 shares** worth approximately **$10 million**.
• Other institutional investors, including OVERSEA CHINESE BANKING Corp and AQR Capital Management, significantly increased their positions in Biogen, with OVERSEA CHINESE BANKING Corp raising its stake by **1,663.4%**.
• Biogen's latest earnings report showed a profit of **$5.47 per share**, exceeding estimates by **$1.54**, and revenue increased by **7.3%** year-over-year, amounting to **$2.65 billion**.

Jump Financial LLC lessened its holdings in shares of Biogen Inc. (NASDAQ:BIIB - Free Report) by 22.7% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,129 shares of the biotechnology company's stock after selling 21,425 shares during the period. Jump Financial LLC's holdings in Biogen were worth $10,007,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Israel Discount Bank of New York raised its holdings in Biogen by 6.2% in the 4th quarter. Israel Discount Bank of New York now owns 1,405 shares of the biotechnology company's stock worth $215,000 after purchasing an additional 82 shares during the period. B. Riley Wealth Advisors Inc. raised its holdings in Biogen by 4.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 2,343 shares of the biotechnology company's stock worth $358,000 after purchasing an additional 92 shares during the period. Quent Capital LLC raised its holdings in Biogen by 31.2% in the 1st quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock worth $54,000 after purchasing an additional 93 shares during the period. CVA Family Office LLC raised its holdings in Biogen by 71.1% in the 1st quarter. CVA Family Office LLC now owns 231 shares of the biotechnology company's stock worth $32,000 after purchasing an additional 96 shares during the period. Finally, Private Trust Co. NA raised its holdings in Biogen by 74.8% in 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 period. Hedge funds and other institutional investors own 87.93% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Canaccord Genuity Group decreased their price target on Biogen from $265.00 to $220.00 and set a "buy" rating on the stock in a report on Friday, May 2nd. Oppenheimer set a $205.00 target price on Biogen in a research report on Friday, May 2nd. Piper Sandler lifted their price target on shares of Biogen from $115.00 to $118.00 and gave the company a "neutral" rating in a research note on Thursday, August 14th. Mizuho decreased their price target on shares of Biogen from $207.00 to $169.00 and set an "outperform" rating for the company in a research note on Wednesday, May 7th. Finally, Royal Bank Of Canada boosted their price objective on shares of Biogen from $208.00 to $219.00 and gave the stock an "outperform" rating in a research note on Friday, August 1st. Eleven research analysts have rated the stock with a Buy rating and twenty-one have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $185.74.

Insider Buying and Selling at Biogen

In other news, insider Rachid Izzar sold 2,223 shares of the business's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total transaction of $300,105.00. Following the sale, the insider directly owned 6,330 shares of the company's stock, valued at $854,550. The trade was a 25.99% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by company insiders.

Biogen Stock Down 2.7%

NASDAQ BIIB traded down $3.71 on Thursday, hitting $132.65. The stock had a trading volume of 1,557,607 shares, compared to its average volume of 1,552,675. The stock has a market cap of $19.45 billion, a price-to-earnings ratio of 12.68, a price-to-earnings-growth ratio of 1.08 and a beta of 0.13. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.50 and a quick ratio of 1.79. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $206.70. The business's fifty day moving average price is $131.17 and its 200 day moving average price is $130.72.

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 for the quarter, beating analysts' consensus estimates of $3.93 by $1.54. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.32 billion. Biogen had a net margin of 15.31% and a return on equity of 13.85%. The business's quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $5.28 earnings per share. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. Equities research analysts anticipate that Biogen Inc. will post 15.83 earnings per share for the current year.

Biogen 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.