Large Outflow of Money Witnessed in Biogen

Biogen (BIIB) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (25.59 million) in Biogen (BIIB). On Friday, The value of composite uptick trades was $174 million, whereas, the value of composite downtick trades was $199.59 million and the ratio between the two was 0.87, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $25.99 million. $8.68 million was the block trade value on upticks. The ratio between the two was clearly in favor of the bears at 0.33. The negative money flow of ($17.31 million) shows selling on strength. Biogen (BIIB) gained $7.56 intraday at $313.59 and registrered 2.47% for the week.


The company Insiders own 0.32% of Biogen shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -0.29% . Institutional Investors own 86.38% of Biogen shares. During last six month period, the net percent change held by insiders has seen a change of -9.05%.

In a related news, The director officer (Chief Executive Officer), of Biogen Inc., Scangos George A had unloaded 157 shares at $280 per share in a transaction on July 21, 2016. The total value of transaction was $43,960. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Biogen (NASDAQ:BIIB): The stock opened at $311.83 and touched an intraday high of $318.88 on Friday. During the day, the stock corrected to an intraday low of $308.66, however, the bulls stepped in and pushed the price higher to close in the green at $313.59 with a gain of 2.47% for the day. The total traded volume for the day was 2,233,859. The stock had closed at $306.03 in the previous trading session.

Biogen (BIIB) has been under a strong bear grip, hence the stock is down -0.62% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 1.25% in the past 1 week. The stock has risen by 1.76% in the past week indicating that the buyers are active at lower levels, but the stock is down -0.75% in the past 4 weeks.

Biogen Inc., formerly Biogen Idec Inc., is a global biopharmaceutical company. The Company is focused on discovering, developing, manufacturing and delivering therapies for neurological, autoimmune and hematologic disorders. The Company develops, manufactures and markets products designed for the treatment of multiple sclerosis (MS) and hemophilia A and B. The Companys marketed products include AVONEX, PLEGRIDY, TECFIDERA, TYSABRI, FAMPYRA for multiple sclerosis (MS), ALPROLIX for hemophilia B, and ELOCTATE for hemophilia A, among others. It also collaborates on the development and commercialization of RITUXAN (rituximab), which is a monoclonal antibody for the treatment of non-Hodgkins lymphoma, chronic lymphocytic leukemia and other conditions and share profits and losses for GAZYVA, which is for the treatment of chronic lymphocytic leukemia.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.