Man Group Reduces $4M in Biogen Inc. ($BIIB)
Man Group trimmed its position in Biogen Inc. by 6.05%, as per its latest 13F filing.
Key Points
- Man Group trimmed its Biogen Inc. holdings by 20,539 shares, a 6.05% reduction, leaving it with 318,745 shares worth $64.37 million.
- Biogen Inc. shares traded near $201.96 on Saturday, with a market cap of $31.89 billion and a P/E ratio of 23.25.
- Insiders at Biogen made notable transactions, and analysts set new price targets, with several maintaining a 'buy' rating.
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Man Group recently trimmed its stake in Biogen Inc. (NasdaqGS: BIIB) by 20,539 shares, according to its latest filing with the SEC. This reduction represents a 6.05% decrease in its holdings, leaving the fund with 318,745 shares valued at approximately $64.37 million as of the end of the reporting period.
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What Changed in Man Group's Biogen Position
Man Group cut its position in Biogen by 20,539 shares, reducing its total holdings to 318,745 shares. This adjustment reflects a 6.05% decrease from its previous holding of 339,284 shares. The value of the shares after this change stands at about $64.37 million.
Other Institutional Activity in Biogen
Several other institutional investors also adjusted their positions in Biogen. BlackRock, Inc. increased its holdings by 1,163,231 shares, ending with 15,974,601 shares worth approximately $2.93 billion, marking a 7.9% increase. FMR LLC significantly boosted its stake by 3,381,678 shares, resulting in a total of 12,807,541 shares valued at $2.35 billion, a 35.9% increase. Vanguard Capital Management LLC opened a new position with 9,537,417 shares valued at $1.75 billion. State Street Corp made a modest addition of 8,902 shares, bringing its total to 7,167,922 shares worth about $1.31 billion.
Biogen Inc. Stock Down 0.9%
Shares of Biogen Inc. traded near $201.96 on Saturday. The company has a market capitalization of $31.89 billion, with a P/E ratio of 23.25 and a forward P/E of 12.99. Biogen's stock has seen a 52-week low of $121.05 and a high of $218.06. The 50-day moving average is $193.05, while the 200-day moving average is $176.24. The company maintains a current ratio of 3.07 and a quick ratio of 2.03, with a debt-to-equity ratio of 35.18.
$BIIB stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Biogen reported revenues of $9.94 billion, with a slight growth of 1.9%. The company achieved an EPS of $9.29, a net margin of 13.8%, and a return on equity of 7.7%. Investors can look forward to the next earnings report scheduled for July 29, 2026.
Earnings drift grade
Outlook vs expectations on the last report — not price action.
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Forward outlook
5 target raises vs 1 cuts.
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EPS & revenue
EPS beat estimates by 26.3%. Revenue beat estimates by 7.7%.
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Profit surprise
EBITDA missed by 7 percent. Operating income missed by 14 percent.
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Pre-earnings setup
Expectations were about average.
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Analyst signal
5 target raises, 1 target cut.
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Earnings quality
Gross margin down 2.9 points. Operating margin down 14.1 points. Positive free cash flow.
Earnings Call Summary
Biogen had a very strong first quarter with growth products generating 851 million dollars, up 12 percent year-over-year. LEQEMBI sales surged 74 percent to 168 million dollars, benefiting from expansion in the U.S., Japan, and China. The company highlighted real-world evidence showing nearly 80 percent of LEQEMBI patients remain on therapy at 18 months, supporting the durability of treatment. High-dose SPINRAZA launched successfully with 20 percent of U.S. patients already switching, and the company is preparing for multiple pipeline readouts starting this year, including data on tau-targeting drug BIIB080 and lupus candidate Litifilimab.
Guidance Biogen reaffirmed its full-year guidance, confident in underlying business strength. The company expects to close the Apellis acquisition in the second quarter and will provide combined guidance after close. Management noted about 600 million dollars of contract manufacturing revenue expected this year, roughly two-thirds in the first half. They anticipate the acquisition will be accretive to earnings per share in 2027.
Slightly positive report. The quarter was acceptable, but the forward setup is not strong.
Insider Buying and Selling at Biogen Inc.
Several insiders at Biogen made transactions on June 9, 2026. Menelas Pangalos bought 2,370 shares, while Eric Rowinsky and Stephen Sherwin each acquired 1,505 shares. Maria Freire also bought 2,005 shares. Additionally, Pangalos sold 2,370 shares on the same day. None of these transactions were part of a Rule 10b5-1 trading plan.
Analysts Set New Price Targets
On June 18, 2026, Morgan Stanley maintained a 'hold' rating with a $224 price target. Mizuho kept a 'buy' rating with a $221 target on June 15, and Needham upgraded the stock to 'buy' with a $255 target on June 8. Analysts overall have a 'buy' consensus, with a mean price target of $220.25 based on 31 opinions.
About Biogen Inc.
Biogen Inc., based in Cambridge, Massachusetts, is a leading healthcare company in the drug manufacturing sector. The company, led by CEO Christopher A. Viehbacher, employs around 7,500 people. Biogen focuses on discovering and developing therapies for neurological diseases. It markets treatments for conditions like multiple sclerosis, spinal muscular atrophy, and Alzheimer's disease. Biogen collaborates with various pharmaceutical companies to enhance its product offerings globally.
Bottom Line
Man Group's recent reduction in its Biogen Inc. stake is a notable move in the fund's portfolio management. Investors often watch these filings to gauge institutional sentiment on a stock. It's important to remember that 13F filings reflect past positions and may not indicate current holdings.
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