Shares of Biogen (BIIB) Sees Large Outflow of Money

Biogen (BIIB) : The total money flow in Biogen (BIIB) was negative ($25.87 million), showing the domination of sellers in the Tuesday trading session. The traders utilized every rise to sell their positions, as seen in the value of trading on downtick to the tune of $95.2 million. Transactions on upticks were comparatively lower at $69.33 million. The uptick to downtick ratio was 0.73. The total block trades done on upticks were valued at $4.88 million. The total block trades on downticks were valued at $28.46 million. The uptick to the downtick ratio of block trades was 0.17. The money flow during block trades was negative ($23.57 million) when the stock traded with a gain of $173 cent. Biogen (BIIB) was $307.86, an increase of 0.57% over the previous days close.


Also, Morgan Stanley maintains its rating on Biogen (NASDAQ:BIIB). The global brokerage major lowers the current price target from $385 per share to $368 per share. Analysts at the Morgan Stanley have a current rating of Overweight on the shares. The rating by the firm was issued on August 17, 2016.

Biogen Inc. has dropped 3.24% in the last five trading days, however, the shares have posted positive gains of 2% in the last 4 weeks. Biogen Inc. is up 7.34% in the last 3-month period. Year-to-Date the stock performance stands at 0.49%.

Biogen (NASDAQ:BIIB): During Tuesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $305.24 and $305.00 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $309.00. The buying momentum continued till the end and the stock did not give up its gains. It closed at $307.86, notching a gain of 0.57% for the day. The total traded volume was 1,070,960 . The stock had closed at $306.13 on the previous day.

In a related news, Scangos George A, director officer (Chief Executive Officer) of Biogen Inc., unloaded 157 shares at an average price of $280 on July 21, 2016. The total amount of the transaction was worth $43,960, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

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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