Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by MML Investors Services LLC

Posted by Defense World Staff on Mar 1st, 2023

MML Investors Services LLC decreased its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN – Get Rating) by 2.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,615 shares of the biopharmaceutical company’s stock after selling 70 shares during the period. MML Investors Services LLC’s holdings in Regeneron Pharmaceuticals were worth $1,801,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Tower Bridge Advisors acquired a new position in Regeneron Pharmaceuticals in the 3rd quarter valued at about $218,000. Canada Pension Plan Investment Board lifted its position in Regeneron Pharmaceuticals by 148.9% during the third quarter. Canada Pension Plan Investment Board now owns 55,156 shares of the biopharmaceutical company’s stock worth $37,995,000 after buying an additional 32,993 shares during the period. Exos TFP Holdings LLC acquired a new stake in Regeneron Pharmaceuticals during the third quarter worth about $621,000. Itau Unibanco Holding S.A. grew its stake in shares of Regeneron Pharmaceuticals by 260.3% in the third quarter. Itau Unibanco Holding S.A. now owns 472 shares of the biopharmaceutical company’s stock valued at $325,000 after buying an additional 341 shares in the last quarter. Finally, FORA Capital LLC purchased a new position in Regeneron Pharmaceuticals in the third quarter valued at about $4,963,000. Hedge funds and other institutional investors own 84.25% of the company’s stock.

Insider Buying and Selling

In other news, insider George Yancopoulos sold 13,189 shares of the firm’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $800.08, for a total value of $10,552,255.12. Following the completion of the sale, the insider now directly owns 200,504 shares in the company, valued at $160,419,240.32. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other Regeneron Pharmaceuticals news, insider George Yancopoulos sold 13,189 shares of the company’s stock in a transaction on Monday, February 6th. The stock was sold at an average price of $800.08, for a total value of $10,552,255.12. Following the transaction, the insider now directly owns 200,504 shares of the company’s stock, valued at approximately $160,419,240.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph L. Goldstein sold 3,613 shares of the stock in a transaction dated Monday, February 6th. The shares were sold at an average price of $800.00, for a total value of $2,890,400.00. Following the completion of the transaction, the director now owns 6,247 shares of the company’s stock, valued at $4,997,600. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 26,555 shares of company stock worth $20,640,437. Insiders own 8.99% of the company’s stock.

Regeneron Pharmaceuticals Trading Up 0.3 %

Shares of REGN stock opened at $760.42 on Wednesday. The firm’s 50 day moving average price is $737.32 and its two-hundred day moving average price is $717.06. Regeneron Pharmaceuticals, Inc. has a fifty-two week low of $538.01 and a fifty-two week high of $800.48. The company has a quick ratio of 4.29, a current ratio of 5.06 and a debt-to-equity ratio of 0.12. The stock has a market cap of $83.14 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 2.61 and a beta of 0.25.

Regeneron Pharmaceuticals (NASDAQ:REGN – Get Rating) last posted its quarterly earnings results on Friday, February 3rd. The biopharmaceutical company reported $12.56 earnings per share (EPS) for the quarter, beating the consensus estimate of $8.18 by $4.38. The firm had revenue of $3.41 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Regeneron Pharmaceuticals had a net margin of 35.64% and a return on equity of 22.87%. The firm’s quarterly revenue was down 31.1% on a year-over-year basis. During the same period in the prior year, the company posted $23.72 earnings per share. On average, analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 34.22 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently commented on REGN shares. Robert W. Baird raised their target price on Regeneron Pharmaceuticals from $670.00 to $756.00 in a research report on Monday, February 6th. SVB Leerink lifted their price objective on Regeneron Pharmaceuticals from $770.00 to $834.00 and gave the stock a “market perform” rating in a research note on Monday, February 6th. Wells Fargo & Company lifted their price objective on Regeneron Pharmaceuticals from $800.00 to $860.00 and gave the company an “overweight” rating in a report on Friday, February 17th. Cowen raised Regeneron Pharmaceuticals from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $775.00 to $875.00 in a report on Monday, January 30th. Finally, Morgan Stanley upped their target price on shares of Regeneron Pharmaceuticals from $868.00 to $873.00 and gave the company an “overweight” rating in a research report on Tuesday, January 24th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $803.19.

Regeneron Pharmaceuticals Profile

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Regeneron Pharmaceuticals, Inc is a biotechnology company, which engages in the discovery, invention, development, manufacture, and commercialization of medicines. Its 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.