MBB Public Markets I LLC Makes New $294,000 Investment in Biogen Inc. $BIIB

Key Points

• MBB Public Markets I LLC has made a new investment of $294,000 in Biogen Inc., acquiring 2,150 shares in the biotechnology company.
• Several institutional investors increased their stakes in Biogen during the first quarter, with 87.93% of the stock now owned by hedge funds and other institutions.
• Biogen recently reported earnings of $5.47 per share for the previous quarter, surpassing analysts' expectations of $3.93, alongside a revenue increase of 7.3% year-over-year.

MBB Public Markets I LLC acquired a new position in Biogen Inc. (NASDAQ:BIIB - Free Report) during the 1st quarter, according to its most recent filing with the SEC. The fund acquired 2,150 shares of the biotechnology company's stock, valued at approximately $294,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. United Services Automobile Association purchased a new stake in shares of Biogen in the 1st quarter worth about $499,000. Meiji Yasuda Asset Management Co Ltd. boosted its position in shares of Biogen by 10.4% in the 1st quarter. Meiji Yasuda Asset Management Co Ltd. now owns 2,163 shares of the biotechnology company's stock worth $296,000 after buying an additional 203 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of Biogen in the 1st quarter worth about $1,664,000. Teza Capital Management LLC purchased a new stake in shares of Biogen in the 1st quarter worth about $349,000. Finally, UniSuper Management Pty Ltd boosted its position in shares of Biogen by 7.2% in the 1st quarter. UniSuper Management Pty Ltd now owns 17,671 shares of the biotechnology company's stock worth $2,418,000 after buying an additional 1,186 shares in the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, insider Priya Singhal sold 517 shares of the stock in a transaction on Tuesday, September 2nd. The stock was 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 in the company, valued at $770,850.60. This trade represents a 8.22% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Rachid Izzar sold 2,223 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $135.00, for a total value of $300,105.00. Following the completion of the transaction, the insider 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. Company insiders own 0.18% of the company's stock.

Analyst Upgrades and Downgrades

BIIB has been the topic of several recent research reports. Morgan Stanley decreased their price objective on shares of Biogen from $146.00 to $144.00 and set an "equal weight" rating on the stock in a research report on Friday, August 1st. Wall Street Zen upgraded shares of Biogen from a "buy" rating to a "strong-buy" rating in a report on Friday, September 5th. HC Wainwright upped their target price on shares of Biogen from $187.00 to $194.00 and gave the company a "buy" rating in a report on Friday, August 1st. Citigroup upped their target price on shares of Biogen from $125.00 to $135.00 and gave the company a "neutral" rating in a report on Friday, August 1st. Finally, Needham & Company LLC restated a "hold" rating on shares of Biogen in a report on Thursday, September 4th. Ten investment 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, the company has a consensus rating of "Hold" and a consensus price target of $181.65.

Biogen Price Performance

NASDAQ:BIIB opened at $148.84 on Friday. The business's 50-day moving average price is $133.75 and its 200 day moving average price is $130.82. The firm has a market cap of $21.82 billion, a P/E ratio of 14.23, a PEG ratio of 1.12 and a beta of 0.11. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $204.18. The company has a quick ratio of 1.79, a current ratio of 2.50 and a debt-to-equity ratio of 0.36.

Biogen (NASDAQ:BIIB - Get Free Report) last released its quarterly earnings results 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. Biogen had a return on equity of 13.85% and a net margin of 15.31%.The business had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.32 billion. During the same quarter last year, the company posted $5.28 EPS. Biogen's revenue for the quarter was up 7.3% on a year-over-year basis. Biogen has set its FY 2025 guidance at 15.500-16.000 EPS. As a group, sell-side analysts predict that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding BIIB? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Biogen Inc. (NASDAQ:BIIB - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.