Large Outflow of Money Witnessed in Biogen

Biogen (BIIB) : Money flow in the Biogen (BIIB) stock was negative (51.27 million) on Monday, which shows that the investors used the strength in the stock price to reduce their holdings. The total traded value on upticks was $110.95 million, compared to $162.22 million on downticks. The total uptick to downtick ratio was 0.68, indicating the underlying weakness in the stock. Even in block trades, money flow was negative ($55.91 million), indicating selling on the strength. The transaction value during uptick in block trades was $3.91 million. Downtick transaction value in block trades amounted to $59.82 million, indicating persistent selling. The uptick to downtick ratio was 0.07. Biogen (BIIB) traded $1.2 higher at $261.5 gaining 0.46% over the previous days close.


Biogen Inc. has dropped 4.18% during the last 3-month period . Year-to-Date the stock performance stands at -14.64%. Shares of Biogen Inc. rose by 3.55% in the last five trading days and 7.97% for the last 4 weeks. In a related news, The officer (EVP, Strategy and Bus. Dev.), of Biogen Inc., Koppel Adam had unloaded 555 shares at $290 per share in a transaction on June 6, 2016. The total value of transaction was $160,950. The Insider information was revealed by the Securities and Exchange Commission in a Form 4 filing.

Biogen (NASDAQ:BIIB): stock turned positive on Monday. Though the stock opened at $260.04, the bulls momentum made the stock top out at $262.8 level for the day. The stock recorded a low of $257.47 and closed the trading day at $261.5, in the green by 0.46%. The total traded volume for the day was 2,133,040. The stock had closed at $260.3 in the previous days trading.

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.

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