Balboa Wealth Partners Cuts Position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Balboa Wealth Partners decreased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 7.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 1,499 shares of the biopharmaceutical company’s stock after selling 119 shares during the period. Balboa Wealth Partners’ holdings in Regeneron Pharmaceuticals were worth $1,576,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Rakuten Securities Inc. raised its holdings in shares of Regeneron Pharmaceuticals by 380.0% during the 3rd quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock valued at $25,000 after buying an additional 19 shares during the period. Stephens Consulting LLC acquired a new position in Regeneron Pharmaceuticals during the 2nd quarter valued at approximately $26,000. Sachetta LLC boosted its position 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 acquiring an additional 10 shares during the period. Crewe Advisors LLC acquired a new stake in shares of Regeneron Pharmaceuticals in the first quarter valued at $28,000. Finally, Lynx Investment Advisory purchased a new stake in shares of Regeneron Pharmaceuticals during the second quarter valued at $33,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the sale, the chief financial officer now directly owns 15,305 shares of the company’s stock, valued at $18,447,575.65. This represents a 27.07 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 7.48% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on REGN shares. Citigroup started coverage on Regeneron Pharmaceuticals in a research report on Thursday. They issued a “neutral” rating and a $895.00 target price on the stock. Truist Financial lowered their target price on Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. reduced their price target on Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating on the stock in a research report on Thursday, October 24th. Leerink Partners restated a “market perform” rating and issued a $1,077.00 price target (down from $1,175.00) on shares of Regeneron Pharmaceuticals in a research report on Tuesday, September 24th. Finally, Piper Sandler cut their price target on Regeneron Pharmaceuticals from $1,242.00 to $1,195.00 and set an “overweight” rating on the stock in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and eighteen have issued a buy rating to the company. According to MarketBeat, Regeneron Pharmaceuticals has an average rating of “Moderate Buy” and an average target price of $1,097.14.

Regeneron Pharmaceuticals Stock Performance

Shares of NASDAQ REGN opened at $782.51 on Friday. The stock has a market cap of $85.99 billion, a price-to-earnings ratio of 19.36, a P/E/G ratio of 3.04 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. Regeneron Pharmaceuticals, Inc. has a 1-year low of $780.95 and a 1-year high of $1,211.20. The stock’s 50-day moving average is $1,000.06 and its 200 day moving average is $1,035.67.

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.