Bbva Compass Bancshares Inc. Lowers Position in Biogen Inc. (BIIB)

Bbva Compass Bancshares Inc. lowered its stake in Biogen Inc. (NASDAQ:BIIB) by 4.6% during the second quarter, Holdings Channel reports. The institutional investor owned 4,204 shares of the biotechnology company’s stock after selling 204 shares during the period. Bbva Compass Bancshares Inc.’s holdings in Biogen were worth $1,016,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Primecap Management Co. CA raised its stake in Biogen by 2.8% in the first quarter. Primecap Management Co. CA now owns 16,246,726 shares of the biotechnology company’s stock valued at $4,229,348,000 after buying an additional 436,101 shares during the last quarter. Jackson Square Partners LLC raised its stake in Biogen by 10.7% in the first quarter. Jackson Square Partners LLC now owns 2,809,422 shares of the biotechnology company’s stock valued at $806,152,000 after buying an additional 271,970 shares during the last quarter. Wedge Capital Management L L P NC bought a new stake in Biogen during the second quarter valued at about $46,617,000. UBS Asset Management Americas Inc. raised its stake in Biogen by 17.4% in the first quarter. UBS Asset Management Americas Inc. now owns 1,124,950 shares of the biotechnology company’s stock valued at $292,847,000 after buying an additional 166,534 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in Biogen by 66.3% in the first quarter. Adage Capital Partners GP L.L.C. now owns 374,324 shares of the biotechnology company’s stock valued at $97,444,000 after buying an additional 149,200 shares during the last quarter. 86.21% of the stock is owned by institutional investors.

Institutional Ownership by Quarter for Biogen (NASDAQ:BIIB)

Shares of Biogen Inc. (NASDAQ:BIIB) traded up 0.490% on Wednesday, reaching $296.495. The company had a trading volume of 758,589 shares. The company has a market capitalization of $64.97 billion, a PE ratio of 17.320 and a beta of 0.95. The company’s 50-day moving average is $305.19 and its 200-day moving average is $281.81. Biogen Inc. has a one year low of $223.02 and a one year high of $333.65.

Several research firms recently issued reports on BIIB. Vetr lowered Biogen from a “hold” rating to a “sell” rating and set a $265.77 target price on the stock. in a report on Monday, July 25th. BMO Capital Markets upped their target price on Biogen from $286.00 to $304.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Piper Jaffray Cos. reiterated a “neutral” rating on shares of Biogen in a report on Wednesday, August 3rd. Credit Suisse Group AG set a $322.00 target price on Biogen and gave the stock a “hold” rating in a report on Sunday, September 18th. Finally, Robert W. Baird reiterated a “positive” rating and set a $284.00 target price (up previously from $268.00) on shares of Biogen in a report on Monday, August 1st. Ten investment analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has issued a strong buy rating to the stock. Biogen has a consensus rating of “Buy” and an average price target of $347.34.

In other Biogen news, EVP Adriana Karaboutis sold 262 shares of the business’s stock in a transaction on Tuesday, October 4th. The shares were sold at an average price of $311.94, for a total transaction of $81,728.28. Following the sale, the executive vice president now owns 7,579 shares of the company’s stock, valued at approximately $2,364,193.26. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO George A. Scangos sold 157 shares of the business’s stock in a transaction on Thursday, July 21st. The shares were sold at an average price of $280.00, for a total transaction of $43,960.00. Following the sale, the chief executive officer now directly owns 54,779 shares in the company, valued at approximately $15,338,120. The disclosure for this sale can be found here. Company insiders own 0.32% of the company’s stock.

Biogen Company Profile

Biogen Inc, formerly Biogen Idec Inc, is a biopharmaceutical company. The Company operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis.

5 Day Chart for NASDAQ:BIIB

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