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State of Michigan Retirement System Has $6.04 Million Position in Biogen Inc. $BIIB
The State of Michigan Retirement System recently decreased its stake in Biogen Inc. (NASDAQ:BIIB) by 85.2% during the third quarter, reducing its holdings to 43,103 shares valued at $6.04 million. Despite this, other institutional investors have increased their positions in the biotechnology company, and analysts have issued mostly positive ratings and raised price targets following Biogen’s Q4 earnings beat and upbeat guidance. The company’s stock performance shows a 12-month low of $110.04 and a high of $202.41, with recent positive sentiment driven by regulatory progress for Leqembi and geographic expansion.