Strategic Financial Concepts LLC bought a new position in Biogen Inc. (NASDAQ:BIIB – Free Report) in the fourth quarter, HoldingsChannel.com reports. The fund bought 19,574 shares of the biotechnology company’s stock, valued at approximately $2,993,000.
Other hedge funds have also added to or reduced their stakes in the company. Ashton Thomas Securities LLC purchased a new stake in Biogen during the third quarter valued at $33,000. Venturi Wealth Management LLC grew its stake in shares of Biogen by 73.8% during the 3rd quarter. Venturi Wealth Management LLC now owns 219 shares of the biotechnology company’s stock valued at $42,000 after purchasing an additional 93 shares during the period. Itau Unibanco Holding S.A. increased its position in shares of Biogen by 63.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 231 shares of the biotechnology company’s stock valued at $45,000 after purchasing an additional 90 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of Biogen by 228.7% in the fourth quarter. Versant Capital Management Inc now owns 401 shares of the biotechnology company’s stock worth $61,000 after buying an additional 279 shares during the last quarter. Finally, FSA Wealth Management LLC bought a new stake in Biogen during the third quarter valued at approximately $74,000. 87.93% of the stock is currently owned by hedge funds and other institutional investors.
Biogen Stock Performance
Biogen stock opened at $141.35 on Monday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.26 and a quick ratio of 0.80. The firm has a market capitalization of $20.60 billion, a P/E ratio of 12.77, a price-to-earnings-growth ratio of 1.65 and a beta of -0.08. Biogen Inc. has a 1-year low of $139.71 and a 1-year high of $244.95. The company’s 50-day moving average is $149.14 and its 200 day moving average is $175.79.
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Biogen 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.
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