Essex Investment Management Co. LLC Cuts Stock Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Essex Investment Management Co. LLC cut its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 6.2% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,423 shares of the biopharmaceutical company’s stock after selling 421 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Regeneron Pharmaceuticals were worth $3,588,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Zions Bancorporation N.A. lifted its position in Regeneron Pharmaceuticals by 66.7% in the first quarter. Zions Bancorporation N.A. now owns 55 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 22 shares during the last quarter. Gleason Group Inc. purchased a new stake in Regeneron Pharmaceuticals in the second quarter worth $31,000. Arkadios Wealth Advisors lifted its position in shares of Regeneron Pharmaceuticals by 96.6% in the 2nd quarter. Arkadios Wealth Advisors now owns 57 shares of the biopharmaceutical company’s stock worth $31,000 after purchasing an additional 28 shares during the period. Sandy Spring Bank grew its holdings in shares of Regeneron Pharmaceuticals by 416.7% during the 2nd quarter. Sandy Spring Bank now owns 62 shares of the biopharmaceutical company’s stock worth $34,000 after acquiring an additional 50 shares during the period. Finally, Sierra Capital LLC bought a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at approximately $36,000. Institutional investors and hedge funds own 82.31% of the company’s stock.

In other news, Director N Anthony Coles sold 11,948 shares of the company’s stock in a transaction dated Wednesday, September 15th. The stock was sold at an average price of $658.98, for a total value of $7,873,493.04. Following the sale, the director now owns 7,811 shares in the company, valued at $5,147,292.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael S. Brown sold 9,704 shares of the business’s stock in a transaction that occurred on Monday, September 13th. The shares were sold at an average price of $648.16, for a total value of $6,289,744.64. Following the completion of the transaction, the director now directly owns 6,328 shares of the company’s stock, valued at $4,101,556.48. The disclosure for this sale can be found here. Insiders have sold 306,956 shares of company stock valued at $196,338,338 in the last ninety days. Corporate insiders own 11.84% of the company’s stock.

Shares of NASDAQ REGN traded down $16.80 during midday trading on Monday, reaching $622.10. The company had a trading volume of 12,491 shares, compared to its average volume of 862,813. The stock has a market cap of $66.54 billion, a P/E ratio of 11.47, a P/E/G ratio of 0.77 and a beta of 0.16. The company has a current ratio of 3.57, a quick ratio of 3.04 and a debt-to-equity ratio of 0.13. Regeneron Pharmaceuticals, Inc. has a 1 year low of $441.00 and a 1 year high of $686.62. The business’s 50-day simple moving average is $631.79 and its 200 day simple moving average is $553.41.

Regeneron Pharmaceuticals (NASDAQ:REGN) last issued its quarterly earnings results on Thursday, August 5th. The biopharmaceutical company reported $25.80 EPS for the quarter, topping the Zacks’ consensus estimate of $8.81 by $16.99. The company had revenue of $5.14 billion during the quarter, compared to analysts’ expectations of $3.90 billion. Regeneron Pharmaceuticals had a return on equity of 50.43% and a net margin of 50.11%. Analysts predict that Regeneron Pharmaceuticals, Inc. will post 51.91 earnings per share for the current year.

Several research firms have recently issued reports on REGN. Cantor Fitzgerald lifted their price target on Regeneron Pharmaceuticals from $670.00 to $700.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 15th. UBS Group started coverage on Regeneron Pharmaceuticals in a report on Thursday, September 9th. They issued a “buy” rating and a $763.00 price target on the stock. BMO Capital Markets boosted their target price on shares of Regeneron Pharmaceuticals from $669.00 to $706.00 and gave the stock an “outperform” rating in a report on Tuesday, September 21st. Royal Bank of Canada raised their target price on shares of Regeneron Pharmaceuticals from $629.00 to $679.00 and gave the stock a “sector perform” rating in a report on Friday, July 23rd. Finally, Piper Sandler upped their price target on shares of Regeneron Pharmaceuticals from $675.00 to $690.00 and gave the company an “overweight” rating in a report on Wednesday, September 15th. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Regeneron Pharmaceuticals presently has an average rating of “Buy” and an average price target of $693.82.

About Regeneron Pharmaceuticals

Regeneron Pharmaceuticals, Inc is a biotechnology company, which engages in the discovery, invention, development, manufacture, and commercialization of medicines. It product portfolio includes the following brands: EYLEA, Dupixent, Praluent, Kevzara, Libtayo, ARCALYST, and ZALTRAP. The firm accelerates the traditional drug development process through its proprietary VelociSuite technologies such as VelocImmune, which uses unique genetically-humanized mice to produce optimized fully-human antibodies and bispecific antibodies.

See Also: Return on Equity (ROE)

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Institutional Ownership by Quarter for Regeneron Pharmaceuticals (NASDAQ:REGN)

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