Summit Global Investments Purchases 2,195 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Summit Global Investments lifted its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 22.7% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 11,868 shares of the biopharmaceutical company’s stock after buying an additional 2,195 shares during the quarter. Regeneron Pharmaceuticals comprises 0.8% of Summit Global Investments’ holdings, making the stock its 27th biggest position. Summit Global Investments’ holdings in Regeneron Pharmaceuticals were worth $12,476,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Stephens Consulting LLC bought a new position in Regeneron Pharmaceuticals during the 2nd quarter worth $26,000. Sachetta LLC raised its stake in Regeneron Pharmaceuticals by 71.4% in the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 10 shares in the last quarter. Crewe Advisors LLC bought a new stake in Regeneron Pharmaceuticals during the first quarter worth about $28,000. Lynx Investment Advisory acquired a new stake in Regeneron Pharmaceuticals during the second quarter worth about $33,000. Finally, Family Firm Inc. bought a new position in Regeneron Pharmaceuticals in the 2nd quarter valued at about $33,000. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the transaction, the chief financial officer now owns 15,305 shares in the company, valued at $18,447,575.65. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 7.48% of the stock is currently owned by corporate insiders.

Regeneron Pharmaceuticals Stock Performance

REGN stock opened at $824.48 on Friday. The firm has a market cap of $90.89 billion, a PE ratio of 20.40, a price-to-earnings-growth ratio of 3.17 and a beta of 0.15. The company has a current ratio of 5.28, a quick ratio of 4.46 and a debt-to-equity ratio of 0.09. The stock has a 50-day moving average price of $1,035.92 and a 200-day moving average price of $1,038.36. Regeneron Pharmaceuticals, Inc. has a 1-year low of $783.57 and a 1-year high of $1,211.20.

Analyst Upgrades and Downgrades

REGN has been the subject of a number of recent analyst reports. Evercore ISI cut their price target on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Truist Financial dropped their target price on shares of Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating for the company in a report on Friday, November 1st. StockNews.com lowered shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Monday. Barclays cut their target price on shares of 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. Finally, Morgan Stanley lowered their price target on shares of Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating for the company in a report on Friday, November 1st. One analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the stock. According to MarketBeat.com, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus price target of $1,092.62.

Regeneron Pharmaceuticals 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.