XTX Topco Ltd Reduces Stock Position in Biogen Inc. (NASDAQ:BIIB)

XTX Topco Ltd reduced its position in Biogen Inc. (NASDAQ:BIIB - Free Report) by 67.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,284 shares of the biotechnology company's stock after selling 4,671 shares during the quarter. XTX Topco Ltd's holdings in Biogen were worth $349,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of BIIB. Vanguard Group Inc. grew its holdings in shares of Biogen by 0.4% in the fourth quarter. Vanguard Group Inc. now owns 16,748,875 shares of the biotechnology company's stock valued at $2,561,238,000 after purchasing an additional 70,368 shares in the last quarter. Geode Capital Management LLC raised its holdings in Biogen by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 3,695,476 shares of the biotechnology company's stock worth $563,709,000 after purchasing an additional 82,456 shares in the last quarter. Pacer Advisors Inc. lifted its position in Biogen by 13,574.7% in the fourth quarter. Pacer Advisors Inc. now owns 2,667,531 shares of the biotechnology company's stock valued at $407,919,000 after acquiring an additional 2,648,024 shares during the last quarter. Norges Bank acquired a new stake in shares of Biogen during the fourth quarter worth about $355,569,000. Finally, Invesco Ltd. increased its position in Biogen by 30.6% during the fourth quarter. Invesco Ltd. now owns 2,128,807 shares of the biotechnology company's stock worth $325,537,000 after buying an additional 499,074 shares during the period. Institutional investors and hedge funds own 87.93% of the company's stock.

Insider Buying and Selling at Biogen

In related news, Director Stephen A. Sherwin sold 8,760 shares of the company's stock in a transaction dated 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 transaction, the director now owns 11,318 shares in the company, 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 SEC, which is available at this hyperlink. 0.16% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

BIIB has been the topic of a number of analyst reports. Truist Financial lowered their price objective on shares of Biogen from $220.00 to $210.00 and set a "buy" rating on the stock in a research report on Thursday, February 13th. HC Wainwright lowered their target price on Biogen from $300.00 to $241.00 and set a "buy" rating on the stock in a report on Thursday, February 13th. The Goldman Sachs Group dropped their price objective on shares of Biogen from $219.00 to $197.00 and set a "buy" rating for the company in a research note on Wednesday, April 23rd. Morgan Stanley decreased their price objective on Biogen from $157.00 to $152.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 9th. Finally, Royal Bank of Canada lifted their target price on shares of Biogen from $221.00 to $225.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 22nd. Twenty equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $203.07.

Biogen Price Performance

NASDAQ BIIB traded up $1.04 during trading on Tuesday, reaching $120.16. The company's stock had a trading volume of 125,169 shares, compared to its average volume of 1,345,518. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.35 and a quick ratio of 0.90. The firm has a fifty day moving average of $132.12 and a 200 day moving average of $148.38. The stock has a market capitalization of $17.59 billion, a PE ratio of 10.75, a P/E/G ratio of 1.51 and a beta of 0.06. Biogen Inc. has a one year low of $110.04 and a one year high of $238.00.

Biogen (NASDAQ:BIIB - Get Free Report) last issued its earnings results on Wednesday, February 12th. The biotechnology company reported $3.44 earnings per share for the quarter, beating the consensus estimate of $3.43 by $0.01. Biogen had a return on equity of 14.98% and a net margin of 16.87%. Analysts expect that Biogen Inc. will post 15.83 EPS 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.