BIOGEN INC BIIB
COM · Common Stock · CUSIP 09062X103 · ISIN US09062X1037
American multinational biotechnology company
- SectorHealth care
- IndustryBiological Products, (No Diagnostic Substances)
- HeadquartersCambridge, MA
- Founded1978
- Websitebiogen.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($97.1m this quarter). Holder counts are more reliable. Shares outstanding: 146.8m as of 2026-02-04, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $175.96. Options: 33 managers hold calls ($733.7m notional), 31 hold puts ($469.8m).
Trends to Q4 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 986 |
| Q4 2022 | 1,030 |
| Q1 2023 | 1,003 |
| Q2 2023 | 1,009 |
| Q3 2023 | 967 |
| Q4 2023 | 1,005 |
| Q1 2024 | 955 |
| Q2 2024 | 947 |
| Q3 2024 | 921 |
| Q4 2024 | 878 |
| Q1 2025 | 884 |
| Q2 2025 | 868 |
| Q3 2025 | 910 |
| Q4 2025 | 1,003 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q1 2024 | 390 | 501 |
| Q2 2024 | 411 | 430 |
| Q3 2024 | 360 | 495 |
| Q4 2024 | 368 | 481 |
| Q1 2025 | 437 | 378 |
| Q2 2025 | 424 | 361 |
| Q3 2025 | 439 | 341 |
| Q4 2025 | 457 | 382 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $345.0m | $620.7m | 1.80 |
| Q2 2025 | $388.4m | $344.8m | 0.89 |
| Q3 2025 | $612.4m | $327.0m | 0.53 |
| Q4 2025 | $733.7m | $469.8m | 0.64 |
Biggest buyers
| FMR LLC | Added | +8.1m |
| Boston Partners | New | +1.7m |
| T. Rowe Price Investment Management, Inc. | Added | +881.9k |
| FRED ALGER MANAGEMENT, LLC | Added | +796.7k |
| HSBC HOLDINGS PLC | Added | +560.1k |
| HRT FINANCIAL LP | Added | +379.8k |
| CITIGROUP INC | Added | +371.5k |
| Jain Global LLC | New | +353.2k |
| GLENVIEW CAPITAL MANAGEMENT, LLC | New | +290.6k |
| Artemis Investment Management LLP | New | +226.8k |
Biggest sellers
| Point72 Asset Management, L.P. | Reduced | -1.1m |
| Invesco Ltd. | Reduced | -762.7k |
| WELLINGTON MANAGEMENT GROUP LLP | Reduced | -695.2k |
| JPMORGAN CHASE & CO | Reduced | -679.4k |
| Balyasny Asset Management L.P. | Reduced | -626.2k |
| Man Group plc | Reduced | -578.7k |
| RENAISSANCE TECHNOLOGIES LLC | Reduced | -565.2k |
| MARSHALL WACE, LLP | Reduced | -501.7k |
| D. E. Shaw & Co., Inc. | Reduced | -424.2k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | Reduced | -335.4k |
Biggest calls
| Point72 Asset Management, L.P. | Added | $176.3m1.0m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $123.5m701.8k shares |
| CITADEL ADVISORS LLC | Added | $71.6m407.0k shares |
| JANE STREET GROUP, LLC | Reduced | $61.8m351.4k shares |
| Centiva Capital, LP | Unchanged | $44.0m250.0k shares |
| PEAK6 LLC | Reduced | $37.0m210.4k shares |
| JPMORGAN CHASE & CO | Reduced | $32.4m184.0k shares |
| GROUP ONE TRADING LLC | Added | $31.1m176.8k shares |
| IMC-Chicago, LLC | Added | $23.3m132.4k shares |
| MILLENNIUM MANAGEMENT LLC | Added | $17.8m101.1k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $167.8m953.5k shares |
| JANE STREET GROUP, LLC | Reduced | $33.4m189.9k shares |
| PEAK6 LLC | Added | $32.6m185.4k shares |
| BARCLAYS PLC | Added | $31.7m180.1k shares |
| CITADEL ADVISORS LLC | Added | $28.5m162.0k shares |
| SIMPLEX TRADING, LLC | Added | $21.5m122.3k shares |
| IMC-Chicago, LLC | Added | $20.0m113.7k shares |
| Qube Research & Technologies Ltd | Reduced | $19.1m108.5k shares |
| UBS Group AG | Added | $13.5m76.5k shares |
| Cresset Asset Management, LLC | New | $13.4m76.4k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| FMR LLC 13G · institution +1.1 pts · filed 2026-08-06 | 12.4% |
| PRIMECAP MANAGEMENT CO/CA/ 13G · institution filed 2025-11-13 | 10.2% |
| BlackRock, Inc. 13G · institution filed 2025-04-17 | 8.5% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 7.5% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-26; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q4 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q1 2024 | 1 | $101.3k | 1 | $338.1k | $338.1k |
| Q2 2024 | 0 | — | 1 | $19.8k | $19.8k |
| Q3 2024 | 0 | — | 1 | $88.0k | $88.0k |
| Q4 2024 | 0 | — | 1 | $17.3k | $17.3k |
| Q1 2025 | 0 | — | 1 | $1.3m | $1.3m |
| Q2 2025 | 1 | $151.6k | 1 | $480.5k | $480.5k |
| Q3 2025 | 0 | — | 2 | $369.2k | $369.2k |
| Q4 2025 | 0 | — | 0 | — | — |
None reported in Q4 2025.
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.04% of their portfolio | 17.4m $3.1bn | Added +157.9k |
| BlackRock, Inc. 0.04% of their portfolio | 14.8m $2.6bn | Added +47.4k |
| PRIMECAP MANAGEMENT CO/CA/ 1.97% of their portfolio | 14.8m $2.6bn | Reduced -196.7k |
| FMR LLC 0.08% of their portfolio | 9.4m $1.7bn | Added +8.1m |
| STATE STREET CORP 0.04% of their portfolio | 7.2m $1.3bn | Reduced -160.7k |
| GEODE CAPITAL MANAGEMENT, LLC 0.05% of their portfolio | 4.2m $736.4m | Added +130.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.11% of their portfolio | 3.6m $625.0m | Reduced -695.2k |
| Point72 Asset Management, L.P. 0.78% of their portfolio | 2.8m $495.1m | Reduced -1.1m |
| NORGES BANK 0.05% of their portfolio | 2.6m $464.4m | Not comparable |
| MORGAN STANLEY 0.02% of their portfolio | 2.3m $409.2m | Added +73.5k |
| T. Rowe Price Investment Management, Inc. 0.14% of their portfolio | 1.9m $343.1m | Added +881.9k |
| JPMORGAN CHASE & CO 0.02% of their portfolio | 1.9m $326.9m | Reduced -679.4k |
| Boston Partners 0.31% of their portfolio | 1.7m $302.8m | New |
| Invesco Ltd. 0.03% of their portfolio | 1.7m $291.3m | Reduced -762.7k |
| AQR CAPITAL MANAGEMENT LLC 0.14% of their portfolio | 1.5m $269.0m | Reduced -255.0k |
| Legal & General Group Plc 0.06% of their portfolio | 1.5m $256.9m | Reduced -133.8k |
| NORTHERN TRUST CORP 0.03% of their portfolio | 1.4m $254.5m | Reduced -53.2k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.05% of their portfolio | 1.4m $244.9m | Reduced -47.8k |
| BARCLAYS PLC 0.09% of their portfolio | 1.3m $229.7m | Reduced -54.4k |
| Pacer Advisors, Inc. 0.52% of their portfolio | 1.1m $201.7m | Reduced -305.4k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.03% of their portfolio | 1.1m $201.3m | Added +20.6k |
| BANK OF AMERICA CORP /DE/ 0.01% of their portfolio | 1.1m $198.7m | Reduced -91.2k |
| MILLENNIUM MANAGEMENT LLC 0.14% of their portfolio | 1.1m $198.1m | Added +14.4k |
| GOLDMAN SACHS GROUP INC 0.03% of their portfolio | 1.1m $193.5m | Added +35.8k |
| VAN ECK ASSOCIATES CORP 0.15% of their portfolio | 1.1m $187.5m | Reduced -1.3k |
| Alyeska Investment Group, L.P. 0.51% of their portfolio | 1.0m $180.3m | Added +179.0k |
| HSBC HOLDINGS PLC 0.05% of their portfolio | 1.0m $177.7m | Added +560.1k |
| DIMENSIONAL FUND ADVISORS LP 0.04% of their portfolio | 960.6k $169.1m | Added +87.6k |
| DEUTSCHE BANK AG\ 0.05% of their portfolio | 953.7k $167.8m | Reduced -277.6k |
| Pictet Asset Management Holding SA 0.16% of their portfolio | 947.5k $166.9m | Added +176.6k |
| Bank of New York Mellon Corp 0.03% of their portfolio | 811.1k $142.7m | Reduced -73.6k |
| FRED ALGER MANAGEMENT, LLC 0.55% of their portfolio | 798.8k $140.6m | Added +796.7k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.02% of their portfolio | 792.1k $139.4m | Reduced -173.4k |
| MASSACHUSETTS FINANCIAL SERVICES CO /MA/ 0.04% of their portfolio | 712.6k $125.4m | Reduced -16.8k |
| Employees Provident Fund Board 0.91% of their portfolio | 704.2k $123.9m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.16% of their portfolio | 661.7k $116.4m | Added +220.6k |
| UBS Group AG 0.02% of their portfolio | 641.8k $112.9m | Added +2.8k |
| Robeco Institutional Asset Management B.V. 0.15% of their portfolio | 610.9k $107.5m | Reduced -60.1k |
| Balyasny Asset Management L.P. 0.20% of their portfolio | 608.0k $107.0m | Reduced -626.2k |
| Caisse de depot et placement du Quebec 0.18% of their portfolio | 588.5k $103.6m | Added +19.3k |
| Patient Capital Management, LLC 3.92% of their portfolio | 576.4k $101.4m | Added +179.7k |
| CITIGROUP INC 0.07% of their portfolio | 573.8k $101.0m | Added +371.5k |
| Amundi 0.03% of their portfolio | 572.4k $100.7m | Reduced -45.9k |
| FIRST TRUST ADVISORS LP 0.07% of their portfolio | 565.8k $99.6m | Reduced -274.7k |
| ROYAL BANK OF CANADA 0.02% of their portfolio | 541.8k $95.4m | Added +43.7k |
| CAUSEWAY CAPITAL MANAGEMENT LLC 1.26% of their portfolio | 521.1k $91.7m | Reduced -46.4k |
| BNP PARIBAS FINANCIAL MARKETS 0.06% of their portfolio | 508.1k $89.4m | Added +112.1k |
| AustralianSuper Pty Ltd 0.39% of their portfolio | 476.8k $83.9m | Reduced -274.6k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.17% of their portfolio | 452.4k $79.6m | Added +104.0k |
| Swiss National Bank 0.04% of their portfolio | 401.8k $70.7m | Reduced -20.6k |
| RENAISSANCE TECHNOLOGIES LLC 0.11% of their portfolio | 399.2k $70.3m | Reduced -565.2k |
| MARSHALL WACE, LLP 0.07% of their portfolio | 385.9k $67.9m | Reduced -501.7k |
| HRT FINANCIAL LP 0.27% of their portfolio | 384.3k $67.6m | Added +379.8k |
| Nuveen, LLC 0.02% of their portfolio | 375.6k $66.1m | Added +43.1k |
| Sumitomo Mitsui Trust Group, Inc. 0.04% of their portfolio | 370.6k $65.2m | Reduced -45.0k |
| PRUDENTIAL FINANCIAL INC 0.08% of their portfolio | 353.5k $62.2m | Reduced -85.6k |
| Jain Global LLC 0.61% of their portfolio | 353.2k $62.2m | New |
| Man Group plc 0.11% of their portfolio | 339.3k $59.7m | Reduced -578.7k |
| California Public Employees Retirement System 0.03% of their portfolio | 330.8k $58.2m | Reduced -13.0k |
| Candriam S.C.A. 0.29% of their portfolio | 330.5k $58.2m | Added +171.7k |
| Mitsubishi UFJ Asset Management Co., Ltd. 0.04% of their portfolio | 319.9k $56.9m | Added +12.5k |
| FIL Ltd 0.04% of their portfolio | 319.5k $56.2m | Added +11.5k |
| LSV ASSET MANAGEMENT 0.12% of their portfolio | 316.8k $55.8m | Added +10.0k |
| ADAGE CAPITAL PARTNERS GP, L.L.C. 0.08% of their portfolio | 294.4k $51.8m | Reduced -37.8k |
| Fisher Asset Management, LLC 0.02% of their portfolio | 293.3k $51.6m | Added +16.0k |
| GLENVIEW CAPITAL MANAGEMENT, LLC 1.09% of their portfolio | 290.6k $51.1m | New |
| National Pension Service 0.04% of their portfolio | 287.2k $50.6m | Added +2.0k |
| Gotham Asset Management, LLC 0.18% of their portfolio | 276.8k $48.7m | Added +6.3k |
| RHUMBLINE ADVISERS 0.04% of their portfolio | 271.7k $47.8m | Reduced -17.5k |
| AEGON ASSET MANAGEMENT UK Plc 0.54% of their portfolio | 260.2k $45.8m | Added +64.5k |
| TWO SIGMA INVESTMENTS, LP 0.07% of their portfolio | 251.8k $44.3m | Added +46.5k |
| Allianz Asset Management GmbH 0.05% of their portfolio | 247.7k $43.6m | Reduced -149.1k |
| VICTORY CAPITAL MANAGEMENT INC 0.02% of their portfolio | 246.7k $43.4m | Added +33.7k |
| BNP PARIBAS ASSET MANAGEMENT Holding S.A. 0.05% of their portfolio | 245.7k $43.2m | Added +48.8k |
| Swedbank AB 0.04% of their portfolio | 231.6k $40.8m | Reduced -830 |
| THOMPSON SIEGEL & WALMSLEY LLC 0.68% of their portfolio | 228.8k $40.3m | Reduced -77.6k |
| Artemis Investment Management LLP 0.48% of their portfolio | 226.8k $39.9m | New |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.04% of their portfolio | 226.4k $39.8m | Reduced -8.4k |
| Hudson Bay Capital Management LP 0.22% of their portfolio | 221.9k $39.0m | Reduced -31.3k |
| LOS ANGELES CAPITAL MANAGEMENT LLC 0.10% of their portfolio | 205.1k $30.7m | Added +13.8k |
| Logos Global Management LP 2.35% of their portfolio | 200.0k $35.2m | Added +100.0k |
| KLP KAPITALFORVALTNING AS 0.13% of their portfolio | 191.7k $33.7m | Added +25.1k |
| Freestone Grove Partners LP 0.24% of their portfolio | 187.6k $33.0m | Reduced -31.3k |
| ACADIAN ASSET MANAGEMENT LLC 0.05% of their portfolio | 187.5k $33.0m | Reduced -7.8k |
| PRINCIPAL FINANCIAL GROUP INC 0.02% of their portfolio | 184.2k $32.4m | Added +26.3k |
| SG Americas Securities, LLC 0.04% of their portfolio | 183.8k $32.4m | Added +174.1k |
| ALLIANCEBERNSTEIN L.P. 0.01% of their portfolio | 183.7k $32.3m | Reduced -53.5k |
| Palo Alto Investors LP 4.50% of their portfolio | 183.6k $32.3m | Reduced -2.1k |
| Defilade Capital Management, L.P. 3.86% of their portfolio | 162.0k $28.5m | First filing |
| NOMURA HOLDINGS INC 0.07% of their portfolio | 147.3k $25.9m | Added +24.4k |
| BANCO BILBAO VIZCAYA ARGENTARIA, S.A. 0.18% of their portfolio | 147.0k $25.9m | Added +8.3k |
| Squarepoint Ops LLC 0.05% of their portfolio | 146.4k $25.8m | Added +138.8k |
| FRANKLIN RESOURCES INC 0.01% of their portfolio | 141.4k $24.9m | Reduced -87.8k |
| Aberdeen Group plc 0.04% of their portfolio | 139.9k $24.6m | Added +1.0k |
| IEQ CAPITAL, LLC 0.07% of their portfolio | 139.6k $24.6m | Added +1.4k |
| CANADA PENSION PLAN INVESTMENT BOARD 0.02% of their portfolio | 138.1k $24.3m | Reduced -101.3k |
| TD Asset Management Inc 0.02% of their portfolio | 135.4k $23.8m | Reduced -25.8k |
| Y-Intercept (Hong Kong) Ltd 0.53% of their portfolio | 134.6k $23.7m | New |
| MONTANOVA CAPITAL, LLC 0.58% of their portfolio | 132.3k $23.3m | Reduced -35.9k |
| AMERIPRISE FINANCIAL INC 0.01% of their portfolio | 131.8k $23.2m | Reduced -13.6k |