13F: Citadel Advisors LLC Decreased Its Holding in Biogen INC (BIIB) by $172.40 Million

13F: Citadel Advisors LLC Decreased Its Holding in Biogen INC (BIIB) by $172.40 Million

Ken Griffin decreased its stake in Biogen Inc (BIIB) by 40.55% based on its latest 2016Q3 regulatory filing with the SEC. Citadel Advisors Llc sold 550,786 shares as the company’s stock rose 27.74% with the market. The hedge fund run by Ken Griffin held 807,540 shares of the biological products (no diagnostic substances) company at the end of 2016Q3, valued at $252.78 million, down from 1.36M at the end of the previous reported quarter. Citadel Advisors Llc who had been investing in Biogen Inc for a number of months, seems to be less bullish one the $62.78 billion market cap company. The stock is down 2.70% or $8.04 after the negative news, hitting $289.75 per share. About 310,266 shares traded hands. Biogen Inc (NASDAQ:BIIB) has risen 17.77% since June 7, 2016 and is uptrending. It has outperformed by 10.35% the S&P500.

Citadel Advisors Llc, which manages about $99.54 billion US Long portfolio, upped its stake in Hortonworks Inc (NASDAQ:HDP) by 1.18 million shares to 2.07 million shares, valued at $17.31 million in 2016Q3, according to the filing. It also increased its holding in Bp Plc (NYSE:BP) by 334,149 shares in the quarter, for a total of 459,679 shares, and has risen its stake in Boyd Gaming Corp Cmn Stk (NYSE:BYD).

Ken Griffin career started in 1986 as a stocks and options trader. Soon he started a convertible bond arbitrage fund. When the market crashed in 1987, he was already rich. Today he is a billionire and manages and Citadel Investment Group is among the world’s largest hedge funds. In 2011 when many hedge funds and CTAs had poor returns, Citadel had returned over 20%, it also returned nearly 25% in 2012 and then 20+% in 2013. Citadel Advisors Llc is a Illinois-based hedge fund that was founded by Ken Griffin. It had more than $142.00 billion assets under management in December, 2014. Citadel Advisors Llc is the 30th largest hedge fund in our database. Taken from Citadel Advisors latest Adv, the fund reported to have 985 full and part-time employees. Among which 872 performing investment advisory and research functions. The hedge fund had between 11-25 clients.

Insitutional Activity: The institutional sentiment decreased to 1 in Q3 2016. Its down 0.03, from 1.03 in 2016Q2. The ratio dropped, as 64 funds sold all BIIB shares owned while 338 reduced positions. 127 funds bought stakes while 274 increased positions. They now own 186.04 million shares or 1.19% more from 183.84 million shares in 2016Q2. Dsc Advsrs Ltd Partnership accumulated 14,078 shares or 2.68% of the stock. Moreover, Massachusetts Fincl Svcs Com Ma has 0.01% invested in Biogen Inc (NASDAQ:BIIB) for 56,090 shares. Naples Lc holds 0.24% or 2,000 shares in its portfolio. Tokio Marine Asset Mngmt accumulated 21,393 shares or 0.73% of the stock. Proshare Ltd Com owns 152,407 shares or 0.67% of their US portfolio. Arizona State Retirement System has 53,998 shares for 0.26% of their US portfolio. Transamerica last reported 3 shares in the company. Duff & Phelps Mngmt Co holds 0.01% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 2,800 shares. Old Mutual Customised Solutions (Proprietary) accumulated 4,000 shares or 0.36% of the stock. Wells Fargo & Communication Mn last reported 1.09 million shares in the company. The Ontario – Canada-based Savings Bank Of Montreal Can has invested 0.04% in Biogen Inc (NASDAQ:BIIB). Eton Park Capital Mngmt Lp holds 0.35% of its portfolio in Biogen Inc (NASDAQ:BIIB) for 64,000 shares. Synovus Financial Corporation owns 21,903 shares or 0.16% of their US portfolio. Blackrock Japan Commerce accumulated 0.33% or 309,843 shares. Edge Wealth Mngmt Lc accumulated 85 shares or 0.01% of the stock.

Insider Transactions: Since July 21, 2016, the stock had 0 insider purchases, and 6 insider sales for $10.53 million net activity. DORSA CAROLINE sold $8.66 million worth of Biogen Inc (NASDAQ:BIIB) on Thursday, September 22. Shares for $118,940 were sold by Karaboutis Adriana on Saturday, October 1. Another trade for 157 shares valued at $43,960 was made by SCANGOS GEORGE A on Thursday, July 21. PANGIA ROBERT W sold $1.61 million worth of stock or 5,450 shares.

Analysts await Biogen Inc (NASDAQ:BIIB) to report earnings on January, 25. They expect $5.01 earnings per share, up 11.33% or $0.51 from last year’s $4.5 per share. BIIB’s profit will be $1.09 billion for 14.45 P/E if the $5.01 EPS becomes a reality. After $5.19 actual earnings per share reported by Biogen Inc for the previous quarter, Wall Street now forecasts -3.47% negative EPS growth.

More notable recent Biogen Inc (NASDAQ:BIIB) news were published by: Nasdaq.com which released: “Biogen Inc (BIIB) Stock Should Move Higher in 2017” on January 11, 2017, also Seekingalpha.com with their article: “Bioverativ Should Have A Strong Launch” published on January 10, 2017, Forbes.com published: “Biotech Giant Biogen To Spin-Off Bioverativ” on December 21, 2016. More interesting news about Biogen Inc (NASDAQ:BIIB) were released by: Fool.com and their article: “3 Reasons Biogen Inc. Stock Is Set to Soar in 2017” published on December 20, 2016 as well as Profitconfidential.com‘s news article titled: “Biogen Inc: BIIB Stock Chart Suggests Patience Warranted” with publication date: January 02, 2017.

According to Zacks Investment Research, “Biogen is a leading biopharmaceutical company engaged in the research, development and marketing of targeted therapies for the treatment of cancer, autoimmune and inflammatory diseases. The company owns industry leading brands for the treatment of multiple sclerosis, next-generation treatments for hemophilia, and a deep clinical pipeline ranging from Alzheimer’s disease, lupus nephritis to neuropathic pain.”

Biogen Inc (NASDAQ:BIIB) Ratings Coverage

Out of 20 analysts covering Biogen Idec Inc. (NASDAQ:BIIB), 13 rate it a “Buy”, 0 “Sell”, while 7 “Hold”. This means 65% are positive. Biogen Idec Inc. has been the topic of 37 analyst reports since July 23, 2015 according to StockzIntelligence Inc. The rating was upgraded by Leerink Swann to “Outperform” on Monday, November 7. On Monday, November 7 the stock rating was upgraded by Piper Jaffray to “Overweight”. Jefferies initiated Biogen Inc (NASDAQ:BIIB) rating on Wednesday, September 9. Jefferies has “Buy” rating and $348 price target. The firm has “Neutral” rating given on Tuesday, June 7 by Citigroup. The rating was initiated by Mizuho with “Buy” on Tuesday, November 8. As per Thursday, February 25, the company rating was initiated by Citigroup. As per Tuesday, August 2, the company rating was maintained by Raymond James. The firm earned “Hold” rating on Wednesday, October 5 by Jefferies. The firm has “Outperform” rating by Bernstein given on Wednesday, June 29. On Wednesday, August 17 the stock rating was maintained by Morgan Stanley with “Overweight”.

BIIB Company Profile

Biogen Inc., formerly Biogen Idec Inc., incorporated on April 1, 1997, is a biopharmaceutical company. The Firm operates in discovering, developing, manufacturing and delivering therapies to patients for the treatment of neurodegenerative diseases, hematologic conditions and autoimmune disorders segment. The Firm markets products, including TECFIDERA, AVONEX, PLEGRIDY, TYSABRI and FAMPYRA for multiple sclerosis (MS), ELOCTATE for hemophilia A and ALPROLIX for hemophilia B, and FUMADERM for the treatment of severe plaque psoriasis. The Firm also has a collaboration agreement with Genentech, Inc. (Genentech), a member of the Roche Group, with respect to RITUXAN for the treatment of non-Hodgkin’s lymphoma, chronic lymphocytic leukemia (CLL) and other conditions, GAZYVA indicated for the treatment of CLL and follicular lymphoma, and other potential anti-CD20 therapies.

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