Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) Shares Sold by Harvey Capital Management Inc.

by · The Cerbat Gem

Harvey Capital Management Inc. decreased its position in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN – Free Report) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,822 shares of the biopharmaceutical company’s stock after selling 35 shares during the quarter. Regeneron Pharmaceuticals accounts for approximately 3.4% of Harvey Capital Management Inc.’s portfolio, making the stock its 7th largest position. Harvey Capital Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $13,479,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brown Lisle Cummings Inc. grew its holdings in shares of Regeneron Pharmaceuticals by 18.2% in the second quarter. Brown Lisle Cummings Inc. now owns 65 shares of the biopharmaceutical company’s stock valued at $68,000 after purchasing an additional 10 shares in the last quarter. Sachetta LLC grew its stake in shares of Regeneron Pharmaceuticals by 71.4% in the second quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 10 shares in the last quarter. Adirondack Trust Co. increased its position in shares of Regeneron Pharmaceuticals by 2.4% during the third quarter. Adirondack Trust Co. now owns 431 shares of the biopharmaceutical company’s stock worth $453,000 after acquiring an additional 10 shares during the period. UMB Bank n.a. raised its stake in shares of Regeneron Pharmaceuticals by 1.1% in the third quarter. UMB Bank n.a. now owns 908 shares of the biopharmaceutical company’s stock valued at $955,000 after acquiring an additional 10 shares in the last quarter. Finally, Team Hewins LLC boosted its holdings in Regeneron Pharmaceuticals by 2.5% in the first quarter. Team Hewins LLC now owns 451 shares of the biopharmaceutical company’s stock valued at $434,000 after purchasing an additional 11 shares during the period. 83.31% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on REGN shares. Cantor Fitzgerald restated a “neutral” rating and set a $1,015.00 price target on shares of Regeneron Pharmaceuticals in a report on Wednesday, October 23rd. JPMorgan Chase & Co. lowered their price objective on Regeneron Pharmaceuticals from $1,200.00 to $1,150.00 and set an “overweight” rating for the company in a research report on Thursday, October 24th. Wells Fargo & Company reduced their target price on shares of Regeneron Pharmaceuticals from $1,200.00 to $1,050.00 and set an “overweight” rating on the stock in a report on Tuesday, October 22nd. Truist Financial lowered their price target 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. Finally, Royal Bank of Canada reduced their price objective on shares of Regeneron Pharmaceuticals from $1,260.00 to $1,215.00 and set an “outperform” rating on the stock in a report on Friday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Regeneron Pharmaceuticals currently has an average rating of “Moderate Buy” and a consensus target price of $1,090.24.

Get Our Latest Stock Analysis on REGN

Insider Buying and Selling

In other Regeneron Pharmaceuticals news, CFO Christopher R. Fenimore sold 5,680 shares of the company’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the transaction, the chief financial officer now directly owns 15,305 shares in the company, valued at approximately $18,447,575.65. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, CFO Christopher R. Fenimore sold 5,680 shares of Regeneron Pharmaceuticals 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 completion of the sale, the chief financial officer now owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Jason Pitofsky sold 487 shares of Regeneron Pharmaceuticals stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $1,070.00, for a total transaction of $521,090.00. Following the completion of the transaction, the vice president now owns 4,204 shares in the company, valued at approximately $4,498,280. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 7.48% of the stock is currently owned by company insiders.

Regeneron Pharmaceuticals Price Performance

Shares of REGN stock traded up $5.40 during mid-day trading on Friday, reaching $843.60. The stock had a trading volume of 1,087,285 shares, compared to its average volume of 768,492. The company has a market cap of $93.00 billion, a P/E ratio of 20.88, a price-to-earnings-growth ratio of 2.88 and a beta of 0.15. Regeneron Pharmaceuticals, Inc. has a 12-month low of $783.57 and a 12-month high of $1,211.20. The business has a 50-day simple moving average of $1,058.43 and a 200 day simple moving average of $1,039.88. The company has a current ratio of 5.99, a quick ratio of 4.62 and a debt-to-equity ratio of 0.09.

Regeneron Pharmaceuticals (NASDAQ:REGN – Get Free Report) last announced its earnings results on Thursday, August 1st. The biopharmaceutical company reported $11.56 EPS for the quarter, beating analysts’ consensus estimates of $8.93 by $2.63. Regeneron Pharmaceuticals had a return on equity of 16.88% and a net margin of 33.61%. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the firm earned $8.79 EPS. Regeneron Pharmaceuticals’s quarterly revenue was up 12.3% on a year-over-year basis. On average, sell-side analysts anticipate that Regeneron Pharmaceuticals, Inc. will post 37.46 earnings per share for the current year.

About Regeneron Pharmaceuticals

(Free Report)

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.

Further Reading

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