Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by ARK Investment Management LLC

ARK Investment Management LLC trimmed its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 4.5% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,151 shares of the biopharmaceutical company’s stock after selling 714 shares during the quarter. ARK Investment Management LLC’s holdings in Regeneron Pharmaceuticals were worth $15,928,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also made changes to their positions in the business. Portside Wealth Group LLC lifted its position in Regeneron Pharmaceuticals by 14.7% during the third quarter. Portside Wealth Group LLC now owns 724 shares of the biopharmaceutical company’s stock valued at $761,000 after purchasing an additional 93 shares during the period. Hara Capital LLC purchased a new position in shares of Regeneron Pharmaceuticals in the 3rd quarter valued at about $168,000. Principal Financial Group Inc. raised its holdings in Regeneron Pharmaceuticals by 1.7% in the 3rd quarter. Principal Financial Group Inc. now owns 173,092 shares of the biopharmaceutical company’s stock worth $181,961,000 after purchasing an additional 2,828 shares during the period. Montecito Bank & Trust boosted its position in Regeneron Pharmaceuticals by 89.5% during the third quarter. Montecito Bank & Trust now owns 1,114 shares of the biopharmaceutical company’s stock worth $1,171,000 after purchasing an additional 526 shares in the last quarter. Finally, Graypoint LLC grew its holdings in Regeneron Pharmaceuticals by 3.3% in the third quarter. Graypoint LLC now owns 2,346 shares of the biopharmaceutical company’s stock valued at $2,466,000 after purchasing an additional 76 shares during the period. 83.31% of the stock is owned by hedge funds and other institutional investors.

Regeneron Pharmaceuticals Stock Up 1.0 %

Shares of NASDAQ REGN opened at $824.48 on Friday. Regeneron Pharmaceuticals, Inc. has a 52-week low of $783.57 and a 52-week high of $1,211.20. The business’s 50 day moving average is $1,035.92 and its two-hundred day moving average is $1,038.36. The firm has a market cap of $90.89 billion, a price-to-earnings ratio of 20.40, a PEG ratio of 3.17 and a beta of 0.15. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on REGN. Oppenheimer reduced their target price on Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating for the company in a research note on Wednesday. TD Cowen increased their price objective on shares of Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. Cantor Fitzgerald reaffirmed a “neutral” rating and issued a $1,015.00 price target on shares of Regeneron Pharmaceuticals in a research note on Wednesday, October 23rd. Barclays dropped their price objective on shares of Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating for the company in a research note on Friday, November 1st. Finally, Guggenheim raised their target price on shares of Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $1,092.62.

Insider Activity at Regeneron Pharmaceuticals

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the firm’s stock in a transaction that occurred on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the completion of the transaction, the chief financial officer now owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.48% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Company Profile

Regeneron Pharmaceuticals, Inc discovers, invents, develops, manufactures, and commercializes medicines for treating various diseases worldwide. The company's products include EYLEA injection to treat wet age-related macular degeneration and diabetic macular edema; myopic choroidal neovascularization; diabetic retinopathy; neovascular glaucoma; and retinopathy of prematurity.