New York Life Investment Management LLC Cuts Stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

New York Life Investment Management LLC cut its stake in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN – Get Rating) by 0.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 19,646 shares of the biopharmaceutical company’s stock after selling 93 shares during the quarter. New York Life Investment Management LLC’s holdings in Regeneron Pharmaceuticals were worth $14,174,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in REGN. Massachusetts Financial Services Co. MA acquired a new stake in Regeneron Pharmaceuticals in the third quarter worth about $136,678,000. Ardevora Asset Management LLP acquired a new position in shares of Regeneron Pharmaceuticals in the 4th quarter valued at about $66,473,000. Pictet Asset Management SA increased its holdings in Regeneron Pharmaceuticals by 32.2% in the third quarter. Pictet Asset Management SA now owns 346,514 shares of the biopharmaceutical company’s stock worth $238,703,000 after buying an additional 84,405 shares during the last quarter. Vanguard Group Inc. increased its holdings in Regeneron Pharmaceuticals by 0.9% in the third quarter. Vanguard Group Inc. now owns 8,648,125 shares of the biopharmaceutical company’s stock worth $5,957,433,000 after buying an additional 77,380 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its holdings in Regeneron Pharmaceuticals by 103.8% in the third quarter. AustralianSuper Pty Ltd now owns 130,969 shares of the biopharmaceutical company’s stock worth $90,221,000 after buying an additional 66,692 shares during the last quarter. 84.25% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Regeneron Pharmaceuticals news, Director Michael S. Brown sold 3,070 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $798.42, for a total value of $2,451,149.40. Following the completion of the sale, the director now directly owns 1,247 shares of the company’s stock, valued at $995,629.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Michael S. Brown sold 3,070 shares of the firm’s stock in a transaction on Friday, April 21st. The stock was sold at an average price of $798.42, for a total value of $2,451,149.40. Following the completion of the transaction, the director now directly owns 1,247 shares of the company’s stock, valued at $995,629.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Arthur F. Ryan sold 100 shares of the firm’s stock in a transaction on Monday, April 3rd. The stock was sold at an average price of $819.31, for a total value of $81,931.00. Following the completion of the transaction, the director now directly owns 19,047 shares of the company’s stock, valued at $15,605,397.57. The disclosure for this sale can be found here. Insiders sold 12,741 shares of company stock valued at $10,218,737 over the last ninety days. 8.83% of the stock is currently owned by insiders.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN traded down $1.54 on Friday, reaching $723.46. 98,983 shares of the company’s stock traded hands, compared to its average volume of 592,697. The company has a current ratio of 5.45, a quick ratio of 4.67 and a debt-to-equity ratio of 0.11. The stock has a market cap of $79.10 billion, a PE ratio of 19.70, a PEG ratio of 2.36 and a beta of 0.23. The stock’s 50 day simple moving average is $787.43 and its two-hundred day simple moving average is $758.07. Regeneron Pharmaceuticals, Inc. has a 52-week low of $538.01 and a 52-week high of $837.55.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Cowen raised Regeneron Pharmaceuticals from a “market perform” rating to an “outperform” rating and upped their target price for the stock from $775.00 to $875.00 in a research report on Monday, January 30th. Bank of America increased their price objective on Regeneron Pharmaceuticals from $605.00 to $650.00 and gave the company an “underperform” rating in a research report on Wednesday, March 29th. TD Cowen increased their price objective on Regeneron Pharmaceuticals from $875.00 to $885.00 and gave the company an “outperform” rating in a research report on Thursday, April 20th. Wells Fargo & Company increased their price objective on Regeneron Pharmaceuticals from $860.00 to $915.00 and gave the company an “overweight” rating in a research report on Friday, March 24th. Finally, Robert W. Baird raised their target price on Regeneron Pharmaceuticals from $756.00 to $800.00 and gave the stock a “neutral” rating in a research report on Friday, March 24th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Regeneron Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $850.21.

About Regeneron Pharmaceuticals

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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.