Bedell Frazier Investment Counselling LLC Decreases Stock Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Bedell Frazier Investment Counselling LLC cut its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 0.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,813 shares of the biopharmaceutical company’s stock after selling 41 shares during the period. Bedell Frazier Investment Counselling LLC’s holdings in Regeneron Pharmaceuticals were worth $5,060,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of REGN. Rakuten Securities Inc. lifted its holdings in Regeneron Pharmaceuticals by 380.0% during the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock worth $25,000 after buying an additional 19 shares during the last quarter. Stephens Consulting LLC purchased a new stake in Regeneron Pharmaceuticals during the 2nd quarter worth about $26,000. Sachetta LLC lifted its holdings in Regeneron Pharmaceuticals by 71.4% during the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after buying an additional 10 shares during the last quarter. Lynx Investment Advisory purchased a new stake in Regeneron Pharmaceuticals during the 2nd quarter worth about $33,000. Finally, Family Firm Inc. purchased a new stake in Regeneron Pharmaceuticals during the 2nd quarter worth about $33,000. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on REGN. Truist Financial cut their target price on Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Barclays cut their target price on Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Guggenheim lifted their target price on Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research report on Friday, August 2nd. Piper Sandler cut their target price on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating on the stock in a research report on Friday, November 1st. Finally, Citigroup began coverage on Regeneron Pharmaceuticals in a research report on Thursday, November 14th. They set a “neutral” rating and a $895.00 target price on the stock. One analyst has rated the stock with a sell rating, four have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, Regeneron Pharmaceuticals has an average rating of “Moderate Buy” and an average price target of $1,099.55.

Regeneron Pharmaceuticals Stock Performance

Shares of REGN stock opened at $738.00 on Monday. The business has a 50 day moving average of $945.07 and a two-hundred day moving average of $1,027.53. The company has a market cap of $81.10 billion, a P/E ratio of 18.26, a PEG ratio of 2.84 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. Regeneron Pharmaceuticals, Inc. has a 52 week low of $735.95 and a 52 week high of $1,211.20.

Insider Activity

In other news, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the sale, the chief financial officer now owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. The trade was a 27.07 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.48% of the company’s stock.

About Regeneron Pharmaceuticals

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.