Shares of Biogen (NASDAQ:BIIB) Sees Large Outflow of Money

Biogen (NASDAQ:BIIB) : Wednesdays money flow analysis of Biogen (NASDAQ:BIIB) indicates the selling of stock on the strength of price. The investors sold the stock on every rise as seen in the downtick transactions of $215.45 million. In comparison, the inflow of money on upticks was a meager $144.03 million. The dollar value of composite uptick trades minus the downtick trades was negative $71.42 million. The uptick to downtick ratio of 0.67 in the money flow shows weakness. The uptick block trades were valued at $6.89 million. The downtick transaction value was high at $69.2 million, which denotes distribution on strength. The uptick to downtick ratio of block trades was 0.1. Hence, the net money flow in the stock was negative ($62.31 million). Biogen (NASDAQ:BIIB) gained $10.39 at $238.91, a change of 4.55% over the previous days close.


In an insider trading activity, Koppel Adam, officer (EVP, Strategy and Bus. Dev.) of Biogen Inc., unloaded 555 shares at an average price of $290 on June 6, 2016. The total amount of the transaction was worth $160,950, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing. Currently 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 -8.09% . Institutional Investors own 92.87% of Biogen shares. During last six month period, the net percent change held by insiders has seen a change of -7.26%.

The company shares have dropped -43.63% 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 27, 2016. The 50-Day Moving Average price is $258.43 and the 200 Day Moving Average price is recorded at $267.57. Biogen (NASDAQ:BIIB): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $232.87 and $232.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $239.85. The buying momentum continued till the end and the stock did not give up its gains. It closed at $238.91, notching a gain of 4.55% for the day. The total traded volume was 2,881,234 . The stock had closed at $228.52 on the previous day.

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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