Hudson Bay Capital Management LP Has $36.86 Million Stock Holdings in Biogen Inc. (NASDAQ:BIIB)

Hudson Bay Capital Management LP lowered its stake in shares of Biogen Inc. (NASDAQ:BIIB) by 19.7% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 241,008 shares of the biotechnology company’s stock after selling 58,992 shares during the period. Hudson Bay Capital Management LP’s holdings in Biogen were worth $36,855,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Assenagon Asset Management S.A. boosted its position in Biogen by 0.3% during the fourth quarter. Assenagon Asset Management S.A. now owns 43,460 shares of the biotechnology company’s stock valued at $6,646,000 after purchasing an additional 111 shares during the last quarter. Amundi lifted its holdings in shares of Biogen by 35.6% during the 4th quarter. Amundi now owns 1,216,990 shares of the biotechnology company’s stock valued at $183,461,000 after buying an additional 319,478 shares during the last quarter. Integrated Quantitative Investments LLC bought a new stake in shares of Biogen in the 4th quarter valued at approximately $407,000. Daiwa Securities Group Inc. increased its holdings in Biogen by 17.8% in the fourth quarter. Daiwa Securities Group Inc. now owns 37,221 shares of the biotechnology company’s stock worth $5,692,000 after buying an additional 5,627 shares during the last quarter. Finally, Y Intercept Hong Kong Ltd increased its holdings in Biogen by 111.0% in the fourth quarter. Y Intercept Hong Kong Ltd now owns 15,148 shares of the biotechnology company’s stock worth $2,316,000 after buying an additional 7,970 shares during the last quarter. 87.93% of the stock is currently owned by hedge funds and other institutional investors.

Biogen Trading Down 0.2 %

Shares of BIIB stock opened at $118.20 on Friday. The firm has a fifty day moving average of $128.33 and a 200-day moving average of $144.38. The stock has a market cap of $17.32 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.51 and a beta of 0.12. Biogen Inc. has a 52-week low of $110.04 and a 52-week high of $238.00. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 1.35.

Biogen (NASDAQ:BIIB) last posted its quarterly earnings results on Thursday, May 1st. The biotechnology company reported $3.02 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.26 by ($0.24). The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.25 billion. Biogen had a return on equity of 14.98% and a net margin of 16.87%. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. During the same period last year, the company earned $3.67 EPS. On average, equities research analysts forecast that Biogen Inc. will post 15.83 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on BIIB. Piper Sandler decreased their target price on shares of Biogen from $135.00 to $115.00 and set a “neutral” rating for the company in a research report on Tuesday, April 29th. Wells Fargo & Company lowered their target price on shares of Biogen from $165.00 to $140.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 13th. HC Wainwright cut their target price on Biogen from $241.00 to $187.00 and set a “buy” rating on the stock in a report on Friday, May 2nd. William Blair reiterated an “outperform” rating on shares of Biogen in a research note on Monday, January 13th. Finally, Bank Of America (Bofa) cut their price objective on Biogen from $178.00 to $163.00 and set a “neutral” rating on the stock in a research note on Tuesday, February 11th. Twenty analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $191.30.

Insider Buying and Selling

In other Biogen news, Director Stephen A. Sherwin sold 8,760 shares of the business’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 completion of the transaction, the director now directly owns 11,318 shares of the company’s stock, valued at approximately $1,697,926.36. The trade was a 43.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.16% of the stock is owned by corporate insiders.

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.