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Head of Development Singhal Priya sale 93 shares of Biogen Inc [BIIB]

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Biogen Inc shares valued at $19,817 were sold by Singhal Priya on Apr 02 ’24. At $213.09 per share, Singhal Priya sold 93 shares. The insider’s holdings dropped to 4,886 shares worth approximately $1.14 million following the completion of this transaction.

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Also, Singhal Priya sold 262 shares, netting a total of over 57,962 in proceeds. Following the sale of shares at $221.23 each, the insider now holds 4,886 shares.

Before that, Singhal Priya had sold 108 shares from its account. In a trade valued at $23,921, the Head of Development traded Biogen Inc shares for $221.49 each. Upon closing the transaction, the insider’s holdings decreased to 108 shares, worth approximately $1.2 million.

As published in a research note from Needham on February 14, 2024, Biogen Inc [BIIB] has been retained to a Buy and the price target has been revised to $300. Analysts at Wells Fargo downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal weight”‘ outlook in a report released in mid February. As of January 24, 2024, UBS has decreased its “Buy” rating to a “Neutral” for BIIB.

Analyzing BIIB Stock Performance

During the last five days, there has been a surge of approximately 1.72%. Over the course of the year, Biogen Inc shares have dropped approximately -10.06%. Shares of the company reached a 52-week high of $268.30 on 01/03/24 and a 52-week low of $189.44 on 04/19/24. A 50-day SMA is recorded $225.39, while a 200-day SMA reached $232.98. Nevertheless, trading volume fell to 0.52 million shares from 0.52 million shares the previous day.

Support And Resistance Levels for Biogen Inc (BIIB)

According to the 24-hour chart, there is a support level at 229.51, which, if violated, would cause prices to drop to 226.26. In the upper region, resistance lies at 234.41. The next price resistance is at 236.06. RSI (Relative Strength Index) is 58.04 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.45, which suggests the price will increase in the coming days. Percent R is at 24.18%, indicating bullish price movement. Stochastics%K at holding indicates that the stock is to be held.

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