Shares of Biogen (BIIB) Sees Large Outflow of Money

Biogen (BIIB) : The money flow is calculated as the dollar value of composite uptick trades minus the dollar value of downtick trades, which was negative (7.04 million) in Biogen (BIIB). On Monday, The value of composite uptick trades was $52.56 million, whereas, the value of composite downtick trades was $59.6 million and the ratio between the two was 0.88, indicating selling on strength. Traders involved in block trades booked profits in their holdings as seen in the transactions on downticks valued at $4.43 million. The negative money flow of ($4.43 million) shows selling on strength. Biogen (BIIB) gained $0.07 intraday at $314.01 and registrered 0.02% for the week.


Biogen Inc. has dropped 0.08% in the last five trading days, however, the shares have posted positive gains of 20.4% in the last 4 weeks. Biogen Inc. is up 17.7% in the last 3-month period. Year-to-Date the stock performance stands at 2.3%.

Biogen (NASDAQ:BIIB): The stock opened at $313.40 on Monday but the bulls could not build on the opening and the stock topped out at $315.08 for the day. The stock traded down to $310.01 during the day, due to lack of any buying support eventually closed down at $313.39 with a loss of -0.18% for the day. The stock had closed at $313.94 on the previous day. The total traded volume was 929,774 shares.

In a related news,The director officer (Chief Executive Officer) of Biogen Inc., Scangos George A sold 157 shares at $280 on July 21, 2016. The Insider selling transaction had a total value worth of $43,960. The Insider information was disclosed 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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