Truist Financial Corp Lowers Holdings in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Truist Financial Corp reduced its position in shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 3.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,221 shares of the biopharmaceutical company’s stock after selling 1,630 shares during the quarter. Truist Financial Corp’s holdings in Regeneron Pharmaceuticals were worth $42,274,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of REGN. SteelPeak Wealth LLC increased its stake in shares of Regeneron Pharmaceuticals by 173.0% during the second quarter. SteelPeak Wealth LLC now owns 1,092 shares of the biopharmaceutical company’s stock valued at $1,148,000 after buying an additional 692 shares during the period. Atria Investments Inc raised its holdings in shares of Regeneron Pharmaceuticals by 12.2% in the 1st quarter. Atria Investments Inc now owns 8,657 shares of the biopharmaceutical company’s stock valued at $8,317,000 after purchasing an additional 941 shares in the last quarter. Tri Locum Partners LP raised its holdings in shares of Regeneron Pharmaceuticals by 104.5% in the 2nd quarter. Tri Locum Partners LP now owns 17,516 shares of the biopharmaceutical company’s stock valued at $18,410,000 after purchasing an additional 8,949 shares in the last quarter. Nordea Investment Management AB lifted its position in shares of Regeneron Pharmaceuticals by 23.2% in the 1st quarter. Nordea Investment Management AB now owns 29,195 shares of the biopharmaceutical company’s stock worth $28,218,000 after purchasing an additional 5,495 shares during the period. Finally, Tidal Investments LLC boosted its stake in shares of Regeneron Pharmaceuticals by 16.8% during the first quarter. Tidal Investments LLC now owns 4,955 shares of the biopharmaceutical company’s stock valued at $4,774,000 after purchasing an additional 711 shares in the last quarter. 83.31% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

REGN has been the subject of a number of recent research reports. Guggenheim boosted their price objective on shares of Regeneron Pharmaceuticals from $1,180.00 to $1,300.00 and gave the stock a “buy” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. boosted their price target on Regeneron Pharmaceuticals from $1,150.00 to $1,200.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley dropped their price objective on Regeneron Pharmaceuticals from $1,183.00 to $1,182.00 and set an “overweight” rating on the stock in a research report on Thursday, July 11th. StockNews.com downgraded shares of Regeneron Pharmaceuticals from a “strong-buy” rating to a “buy” rating in a report on Wednesday, September 25th. Finally, TD Cowen raised their price target on shares of Regeneron Pharmaceuticals from $1,030.00 to $1,200.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $1,118.62.

Regeneron Pharmaceuticals Stock Performance

Shares of Regeneron Pharmaceuticals stock opened at $1,040.27 on Thursday. The firm’s fifty day simple moving average is $1,127.95 and its 200-day simple moving average is $1,036.76. Regeneron Pharmaceuticals, Inc. has a 12 month low of $769.19 and a 12 month high of $1,211.20. The stock has a market capitalization of $114.68 billion, a price-to-earnings ratio of 30.73, a PEG ratio of 3.56 and a beta of 0.12. The company has a debt-to-equity ratio of 0.10, a current ratio of 5.44 and a quick ratio of 4.62.

Regeneron Pharmaceuticals (NASDAQ:REGN) last announced its quarterly earnings data on Thursday, August 1st. The biopharmaceutical company reported $11.56 EPS for the quarter, topping analysts’ consensus estimates of $8.93 by $2.63. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.38 billion. Regeneron Pharmaceuticals had a net margin of 32.04% and a return on equity of 16.80%. Regeneron Pharmaceuticals’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $8.79 EPS. As a group, equities analysts forecast that Regeneron Pharmaceuticals, Inc. will post 37.8 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction that occurred on Wednesday, August 28th. The stock was sold at an average price of $1,205.33, for a total transaction of $6,846,274.40. Following the sale, the chief financial officer now owns 15,305 shares of the company’s stock, valued at approximately $18,447,575.65. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Christopher R. Fenimore sold 5,680 shares of the business’s stock in a transaction dated Wednesday, August 28th. The shares were sold at an average price of $1,205.33, for a total value of $6,846,274.40. Following the sale, the chief financial officer now directly owns 15,305 shares in the company, valued at approximately $18,447,575.65. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Joseph J. Larosa sold 1,866 shares of the firm’s stock in a transaction dated Thursday, July 11th. The shares were sold at an average price of $1,088.95, for a total transaction of $2,031,980.70. Following the transaction, the executive vice president now owns 37,937 shares of the company’s stock, valued at $41,311,496.15. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,033 shares of company stock valued at $9,399,345. Corporate insiders own 7.48% of the company’s stock.

About Regeneron Pharmaceuticals

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.