Biogen (NASDAQ:BIIB) has witnessed a drop of 9.7% or 236,045 shares in its short figure. The short interest diminution took it from 2,437,123 on May 31,2016 to 2,201,078 on June 15,2016. In terms of floated shares, the short interest was calculated to be 1%. The days to cover are 1 given that the daily volume averaged 2,624,323 shares. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.
Biogen (NASDAQ:BIIB): The stock opened at $232.00 on Friday but the bulls could not build on the opening and the stock topped out at $235.30 for the day. The stock traded down to $229.00 during the day, due to lack of any buying support eventually closed down at $229.02 with a loss of -4.02% for the day. The stock had closed at $238.62 on the previous day. The total traded volume was 2,685,048 shares.
The company shares have dropped -42.20% from its 1 Year high price. On Jul 21, 2015, the shares registered one year high at $412.24 and the one year low was seen on Jun 24, 2016. The 50-Day Moving Average price is $260.74 and the 200 Day Moving Average price is recorded at $268.72.
Biogen (NASDAQ:BIIB) has tumbled 3.86% during the past week and has dropped 19.01% in the last 4 week period. The stocks are negative as compared to the S&P 500 for the past week with a loss of 2.26%. Biogen (NASDAQ:BIIB) has underperformed the index by 16.56% in the last 4 weeks. Investors should watch out for further signals and trade with caution.
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.