Traynor Capital Management Inc. Lowers Stake in Regeneron Pharmaceuticals, Inc. (REGN)
Traynor Capital Management Inc. decreased its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 1.8% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 1,640 shares of the biopharmaceutical company’s stock after selling 30 shares during the period. Traynor Capital Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $833,000 as of its most recent SEC filing.
Several other hedge funds have also modified their holdings of REGN. Korea Investment CORP boosted its stake in shares of Regeneron Pharmaceuticals by 223.9% in the first quarter. Korea Investment CORP now owns 298 shares of the biopharmaceutical company’s stock valued at $115,000 after buying an additional 206 shares in the last quarter. FNY Managed Accounts LLC acquired a new stake in shares of Regeneron Pharmaceuticals during the first quarter valued at about $140,000. Alpha Windward LLC boosted its stake in shares of Regeneron Pharmaceuticals by 4.4% in the first quarter. Alpha Windward LLC now owns 383 shares of the biopharmaceutical company’s stock valued at $148,000 after buying an additional 16 shares in the last quarter. IFP Advisors Inc boosted its stake in shares of Regeneron Pharmaceuticals by 33.2% in the second quarter. IFP Advisors Inc now owns 385 shares of the biopharmaceutical company’s stock valued at $189,000 after buying an additional 96 shares in the last quarter. Finally, Wendell David Associates Inc. acquired a new stake in shares of Regeneron Pharmaceuticals during the second quarter valued at about $204,000. 66.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ REGN) traded up 0.12% on Friday, reaching $460.61. The company’s stock had a trading volume of 38,667 shares. Regeneron Pharmaceuticals, Inc. has a 1-year low of $325.35 and a 1-year high of $543.55. The company’s 50 day moving average is $497.25 and its 200-day moving average is $425.70. The stock has a market cap of $48.84 billion, a PE ratio of 46.21 and a beta of 1.66.
Regeneron Pharmaceuticals (NASDAQ:REGN) last released its earnings results on Thursday, August 3rd. The biopharmaceutical company reported $4.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $1.50. Regeneron Pharmaceuticals had a return on equity of 25.58% and a net margin of 22.05%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $1.36 billion. During the same quarter in the prior year, the company posted $2.82 earnings per share. Regeneron Pharmaceuticals’s revenue was up 21.2% on a year-over-year basis. On average, equities analysts predict that Regeneron Pharmaceuticals, Inc. will post $14.84 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on REGN. BMO Capital Markets increased their price target on shares of Regeneron Pharmaceuticals from $412.00 to $421.00 and gave the stock a “hold” rating in a research report on Monday, May 15th. Leerink Swann reaffirmed an “outperform” rating and issued a $580.00 target price (up previously from $573.00) on shares of Regeneron Pharmaceuticals in a report on Wednesday. Vetr cut shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating and set a $408.86 target price on the stock. in a report on Monday, April 24th. UBS AG set a $489.00 target price on shares of Regeneron Pharmaceuticals and gave the company a “buy” rating in a report on Friday, May 5th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “hold” rating on shares of Regeneron Pharmaceuticals in a report on Wednesday, June 14th. Two equities research analysts have rated the stock with a sell rating, fourteen have issued a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $489.35.
In other Regeneron Pharmaceuticals news, SVP Robert E. Landry sold 526 shares of the business’s stock in a transaction that occurred on Tuesday, August 8th. The stock was sold at an average price of $472.19, for a total transaction of $248,371.94. Following the transaction, the senior vice president now owns 9,099 shares of the company’s stock, valued at $4,296,456.81. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Chairman P Roy Vagelos sold 9,295 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $458.14, for a total value of $4,258,411.30. Following the transaction, the chairman now directly owns 414,156 shares in the company, valued at approximately $189,741,429.84. The disclosure for this sale can be found here. Insiders have sold 56,922 shares of company stock worth $27,383,105 in the last quarter. 10.40% of the stock is currently owned by corporate insiders.
Regeneron Pharmaceuticals Company Profile
Regeneron Pharmaceuticals, Inc is a biopharmaceutical company that discovers, invents, develops, manufactures and commercializes medicines for the treatment of serious medical conditions. The Company commercializes medicines for eye diseases, high low-density lipoprotein (LDL) cholesterol, and an inflammatory condition and have product candidates in development in other areas, including rheumatoid arthritis, asthma, atopic dermatitis, pain, cancer, and infectious diseases.
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