Cinctive Capital Management LP Sells 6,711 Shares of Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN)

Cinctive Capital Management LP reduced its stake in Regeneron Pharmaceuticals, Inc. (NASDAQ:REGN) by 69.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 2,973 shares of the biopharmaceutical company’s stock after selling 6,711 shares during the quarter. Cinctive Capital Management LP’s holdings in Regeneron Pharmaceuticals were worth $3,125,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the stock. Sachetta LLC raised its holdings in Regeneron Pharmaceuticals by 71.4% in the 2nd quarter. Sachetta LLC now owns 24 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 10 shares in the last quarter. Rakuten Securities Inc. raised its stake in Regeneron Pharmaceuticals by 380.0% in the third quarter. Rakuten Securities Inc. now owns 24 shares of the biopharmaceutical company’s stock valued at $25,000 after purchasing an additional 19 shares in the last quarter. Stephens Consulting LLC bought a new stake in Regeneron Pharmaceuticals during the second quarter worth about $26,000. FSA Wealth Management LLC acquired a new stake in Regeneron Pharmaceuticals during the third quarter worth about $26,000. Finally, Lynx Investment Advisory bought a new position in Regeneron Pharmaceuticals in the 2nd quarter valued at about $33,000. Institutional investors and hedge funds own 83.31% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Evercore ISI cut their price target on shares of Regeneron Pharmaceuticals from $1,250.00 to $1,175.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Morgan Stanley decreased their price target on Regeneron Pharmaceuticals from $1,235.00 to $1,184.00 and set an “overweight” rating on the stock in a research note on Friday, November 1st. BMO Capital Markets dropped their price objective on Regeneron Pharmaceuticals from $1,300.00 to $1,190.00 and set an “outperform” rating for the company in a research report on Friday, November 1st. Citigroup began coverage on Regeneron Pharmaceuticals in a research report on Thursday, November 14th. They issued a “neutral” rating and a $895.00 target price on the stock. Finally, Truist Financial lowered their target price on Regeneron Pharmaceuticals from $1,137.00 to $1,126.00 and set a “buy” rating for the company in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $1,107.29.

Regeneron Pharmaceuticals Stock Performance

NASDAQ REGN opened at $762.34 on Tuesday. The company has a market capitalization of $83.77 billion, a price-to-earnings ratio of 18.87, a PEG ratio of 2.89 and a beta of 0.08. The company has a quick ratio of 4.46, a current ratio of 5.28 and a debt-to-equity ratio of 0.09. Regeneron Pharmaceuticals, Inc. has a twelve month low of $735.95 and a twelve month high of $1,211.20. The stock has a fifty day simple moving average of $905.64 and a 200 day simple moving average of $1,019.64.

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.