CAM Group Holding A S decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 7.8% during the second quarter, Holdings Channel reports. The fund owned 77,147 shares of the biotechnology company’s stock after selling 6,500 shares during the period. Biogen comprises 0.4% of CAM Group Holding A S’s portfolio, making the stock its 29th largest position. CAM Group Holding A S’s holdings in Biogen were worth $18,656,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Opus Point Partners Management LLC raised its position in Biogen by 6.1% in the first quarter. Opus Point Partners Management LLC now owns 11,125 shares of the biotechnology company’s stock worth $2,896,000 after buying an additional 643 shares during the period. Scharf Investments LLC bought a new position in Biogen during the first quarter worth approximately $1,406,000. Renaissance Technologies LLC bought a new position in Biogen during the first quarter worth approximately $33,233,000. Jackson Square Partners LLC raised its position 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 worth $806,152,000 after buying an additional 271,970 shares during the period. Finally, Bogle Investment Management L P DE bought a new position in Biogen during the first quarter worth approximately $11,662,000. 86.21% of the stock is owned by institutional investors and hedge funds.
Biogen Inc. (NASDAQ:BIIB) traded up 0.03% during trading on Wednesday, reaching $295.14. The company had a trading volume of 986,834 shares. The firm has a market capitalization of $64.67 billion, a PE ratio of 17.24 and a beta of 0.95. Biogen Inc. has a 12-month low of $223.02 and a 12-month high of $333.65. The firm’s 50 day moving average price is $305.19 and its 200 day moving average price is $281.81.
A number of research firms have commented on BIIB. Credit Suisse Group AG set a $322.00 price objective on Biogen and gave the stock a “hold” rating in a research note on Sunday, September 18th. Vetr upgraded Biogen from a “sell” rating to a “hold” rating and set a $317.79 price objective on the stock in a research note on Wednesday, August 3rd. Zacks Investment Research lowered Biogen from a “buy” rating to a “hold” rating in a research note on Tuesday, July 12th. Morgan Stanley restated a “buy” rating and set a $385.00 price objective on shares of Biogen in a research note on Wednesday, August 3rd. Finally, Leerink Swann lifted their price target on Biogen from $360.00 to $367.00 and gave the company a “market perform” rating in a research note on Monday, August 1st. Ten equities research analysts have rated the stock with a hold rating, fourteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $347.34.
In other news, CEO George A. Scangos sold 157 shares of Biogen stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 54,779 shares in the company, valued at $15,338,120. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Adriana Karaboutis sold 262 shares of Biogen stock in a transaction that occurred 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 transaction, the executive vice president now owns 7,579 shares of the company’s stock, valued at $2,364,193.26. The disclosure for this sale can be found here. 0.32% of the stock is currently owned by company insiders.
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.
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