Simplify Asset Management Inc. Purchases 3,231 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Simplify Asset Management Inc. grew its holdings in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 50.8% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 9,591 shares of the biopharmaceutical company’s stock after buying an additional 3,231 shares during the quarter. Regeneron Pharmaceuticals accounts for about 0.5% of Simplify Asset Management Inc.’s investment portfolio, making the stock its 22nd biggest position. Simplify Asset Management Inc.’s holdings in Regeneron Pharmaceuticals were worth $10,082,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Valley Wealth Managers Inc. bought a new position in Regeneron Pharmaceuticals in the 3rd quarter valued at $49,000. Empowered Funds LLC grew its holdings in shares of Regeneron Pharmaceuticals by 7.1% in the third quarter. Empowered Funds LLC now owns 1,652 shares of the biopharmaceutical company’s stock worth $1,737,000 after purchasing an additional 109 shares during the last quarter. Signature Estate & Investment Advisors LLC purchased a new position in Regeneron Pharmaceuticals in the 3rd quarter worth about $313,000. CIBC Asset Management Inc lifted its holdings in Regeneron Pharmaceuticals by 5.8% during the 3rd quarter. CIBC Asset Management Inc now owns 33,352 shares of the biopharmaceutical company’s stock valued at $35,061,000 after buying an additional 1,843 shares in the last quarter. Finally, Impax Asset Management Group plc lifted its holdings in Regeneron Pharmaceuticals by 4.6% during the 3rd quarter. Impax Asset Management Group plc now owns 5,643 shares of the biopharmaceutical company’s stock valued at $5,932,000 after buying an additional 248 shares in the last quarter. 83.31% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now owns 15,305 shares of the company’s stock, valued at $18,447,575.65. The trade was a 27.07 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.48% of the company’s stock.

Analyst Ratings Changes

REGN has been the topic of several research analyst reports. Citigroup began coverage on Regeneron Pharmaceuticals in a research note on Thursday. They issued a “neutral” rating and a $895.00 price objective on the stock. Leerink Partners reissued a “market perform” rating and set a $1,077.00 price target (down previously from $1,175.00) on shares of Regeneron Pharmaceuticals in a research report on Tuesday, September 24th. Evercore ISI lowered their price objective on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Oppenheimer cut their target price on shares of Regeneron Pharmaceuticals from $1,150.00 to $1,000.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 6th. Finally, Barclays lowered their price target on shares of Regeneron Pharmaceuticals from $1,080.00 to $1,065.00 and set an “overweight” rating for the company in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and nineteen have given a buy rating to the stock. Based on data from MarketBeat, Regeneron Pharmaceuticals currently has a consensus rating of “Moderate Buy” and an average price target of $1,099.55.

Regeneron Pharmaceuticals Stock Performance

REGN stock traded down $20.92 during midday trading on Friday, reaching $761.59. The stock had a trading volume of 214,309 shares, compared to its average volume of 525,231. The firm has a fifty day simple moving average of $992.70 and a two-hundred day simple moving average of $1,033.92. Regeneron Pharmaceuticals, Inc. has a 52-week low of $760.05 and a 52-week high of $1,211.20. The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.46 and a current ratio of 5.28. The stock has a market cap of $83.69 billion, a PE ratio of 18.93, a P/E/G ratio of 3.04 and a beta of 0.15.

Regeneron Pharmaceuticals Profile

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.