Advisor Group Inc. decreased its position in Biogen Inc (NASDAQ:BIIB) by 3.5% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,195 shares of the biotechnology company’s stock after selling 408 shares during the period. Advisor Group Inc.’s holdings in Biogen were worth $3,565,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Compton Capital Management Inc. RI purchased a new position in Biogen in the fourth quarter valued at $321,000. Granite Springs Asset Management LLC purchased a new position in Biogen in the fourth quarter valued at $620,000. Fred Alger Management Inc. increased its holdings in Biogen by 71.1% in the fourth quarter. Fred Alger Management Inc. now owns 13,329 shares of the biotechnology company’s stock valued at $4,246,000 after buying an additional 5,537 shares in the last quarter. Bamco Inc. NY increased its holdings in Biogen by 14.8% in the fourth quarter. Bamco Inc. NY now owns 14,868 shares of the biotechnology company’s stock valued at $4,736,000 after buying an additional 1,917 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Biogen by 16.3% in the fourth quarter. Nomura Asset Management Co. Ltd. now owns 226,120 shares of the biotechnology company’s stock valued at $72,035,000 after buying an additional 31,644 shares in the last quarter. 88.96% of the stock is owned by institutional investors.
Shares of Biogen Inc (BIIB) opened at $283.24 on Wednesday. Biogen Inc has a one year low of $244.28 and a one year high of $370.57. The stock has a market cap of $59,920.00, a PE ratio of 16.22, a P/E/G ratio of 1.57 and a beta of 0.91. The company has a debt-to-equity ratio of 0.47, a quick ratio of 2.07 and a current ratio of 2.34.
A number of research firms have weighed in on BIIB. BMO Capital Markets reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, January 25th. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of Biogen in a report on Thursday, February 8th. Canaccord Genuity lifted their price objective on shares of Biogen from $340.00 to $350.00 and gave the company a “hold” rating in a report on Wednesday, January 24th. Oppenheimer lifted their price objective on shares of Biogen from $380.00 to $400.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, Mizuho reaffirmed a “buy” rating and issued a $433.00 price objective (up previously from $400.00) on shares of Biogen in a report on Sunday, February 4th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-two have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $370.07.
In other Biogen news, EVP Alfred Sandrock sold 259 shares of the business’s stock in a transaction dated Tuesday, February 27th. The shares were sold at an average price of $290.83, for a total value of $75,324.97. Following the transaction, the executive vice president now directly owns 6,553 shares in the company, valued at approximately $1,905,808.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michel Vounatsos bought 780 shares of the firm’s stock in a transaction on Friday, December 29th. The stock was purchased at an average price of $320.55 per share, for a total transaction of $250,029.00. Following the completion of the acquisition, the chief executive officer now directly owns 4,879 shares in the company, valued at $1,563,963.45. The disclosure for this purchase can be found here. In the last ninety days, insiders have sold 8,128 shares of company stock valued at $2,601,512. 0.25% of the stock is owned by corporate insiders.
ILLEGAL ACTIVITY WARNING: “Biogen Inc (BIIB) Holdings Trimmed by Advisor Group Inc.” was posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another website, it was illegally stolen and reposted in violation of US & international copyright and trademark laws. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/3260867/biogen-inc-biib-holdings-trimmed-by-advisor-group-inc.html.
Biogen Inc is a biopharmaceutical company. The Company focuses on discovering, developing, manufacturing and delivering therapies to people living with serious neurological, rare and autoimmune diseases. The Company markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI, ZINBRYTA and FAMPYRA for multiple sclerosis (MS), FUMADERM for the treatment of severe plaque psoriasis and SPINRAZA for the treatment of spinal muscular atrophy (SMA).
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).
Receive News & Ratings for Biogen Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Biogen and related companies with MarketBeat.com's FREE daily email newsletter.