Regeneron Pharmaceuticals Inc. shares rose 1.57% to $583.64 Friday. This proved to be an all-around favorable trading session for the stock market, with the S&P 500 Index SPX rising 0.75% to 4,352.34 and the Dow Jones Industrial Average DJIA rising 0.44% to 34,786.35.
Regeneron Pharmaceuticals Inc. closed $81.00 short of its 52-week high ($664.64), which the company achieved on July 20th. The stock demonstrated a mixed performance when compared to some of its competitors Friday, as Johnson & Johnson JNJ rose 1.82% to $168.98, Novartis AG ADR NVS rose 0.36% to $91.98, and Amgen Inc. AMGN rose 0.73% to $248.70.
Regeneron Pharmaceuticals Inc trading volume (1.1 M) eclipsed its 50-day average volume of 807,992. This was the stock’s fourth consecutive day of gains. On Thursday, Regeneron, the $60 billion Tarrytown, N.Y., biotech, perhaps best known for its COVID-treating antibody, announced its discovery of rare genetic mutations that it hopes will make such therapeutics possible.
The mutations, which appear to protect against obesity, occurred in about 1 out of 3,000 people in the Regeneron Genetics Center (RGC) study, which included 646,000 volunteers in the U.S., the U.K., and Mexico. Individuals with the rare mutations have one inactive copy of the GPR75 gene; as a group, they had lower weights (by an average of 12 pounds), lower body mass indexes (BMIs), and a 54% reduced risk of obesity compared with people without the mutation. When fed a high-fat diet, the animals with an inactivated GPR75 gene gained 44% less weight.