JPMorgan Amends Regeneron Stake; Passive Ownership Update

TL;DR

**JPMorgan updated its Regeneron stake, signaling a portfolio rebalance.**

AI Summary

JPMorgan Chase & Co. filed an amended Schedule 13G/A on January 25, 2024, indicating a change in its beneficial ownership of Regeneron Pharmaceuticals, Inc. common stock as of December 29, 2023. This update, filed under Rule 13d-1(b), means JPMorgan Chase & Co. is a passive institutional investor and has adjusted its reported stake in Regeneron. For investors, this filing provides transparency into a major financial institution's holdings, signaling a potential shift in their confidence or portfolio allocation regarding Regeneron stock.

Why It Matters

This filing shows a major institutional investor, JPMorgan Chase & Co., has updated its position in Regeneron, which can influence market perception and trading activity.

Risk Assessment

Risk Level: low — This is a routine update from a passive institutional investor and does not indicate any immediate negative or positive operational risk for Regeneron.

Analyst Insight

Investors should note that JPMorgan Chase & Co. is a passive investor in Regeneron, meaning this filing reflects a portfolio adjustment rather than an attempt to influence company management. While the specific change in ownership percentage isn't detailed in this excerpt, the amendment suggests a re-evaluation of their position. Smart investors might monitor subsequent filings for the exact change in share count and consider if other large institutions are making similar adjustments, which could signal broader market sentiment for Regeneron.

Key Players & Entities

• JPMorgan Chase & Co. (company) — the entity filing the SC 13G/A, reporting beneficial ownership
• Regeneron Pharmaceuticals, Inc. (company) — the subject company whose securities are being reported
• December 29, 2023 (date) — the date of the event requiring the filing
• January 25, 2024 (date) — the filing date of the SC 13G/A
• Rule 13d-1(b) (other) — the specific SEC rule under which the filing was made, indicating a passive institutional investor

FAQ

Filing Documents

• REGENERON_PHARMACEUTICALS_.htm (SC 13G/A) — 87KB
• 0000019617-24-000143.txt ( ) — 88KB

From the Filing

SC 13G/A 1 REGENERON_PHARMACEUTICALS_.htm FILING REGENERON PHARMACEUTICALS, INC. Schedule 13G UNITED SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 SCHEDULE 13G Under the Securities Exchange Act of 1934 (Amendment No. 01 )* REGENERON PHARMACEUTICALS, INC. (Name of Issuer) Common Stock - par value $.001 per share (Title of Class of Securities) 75886F107 (CUSIP Number) December 29, 2023 (Date of Event Which Requires Filing of this Statement) Check the appropriate box to designate the rule pursuant to which this Schedule is filed: x Rule 13d-1(b) o Rule 13d-1(c) o Rule 13d-1(d) * The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page. The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes). CUSIP No. 75886F107 1 NAMES OF REPORTING PERSONS I.R.S. IDENTIFICATION NOS. OF ABOVE PERSONS (ENTITIES ONLY) JPMORGAN CHASE & CO. 13-2624428 2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS) (a) o (b) o 3 SEC USE ONLY 4 CITIZENSHIP OR PLACE OF ORGANIZATION Delaware NUMBER OF SHARES BENEFICIALLY OWNED BY EACH REPORTING PERSON WITH: 5 SOLE VOTING POWER 6,521,043 6 SHARED VOTING POWER 25,308 7 SOLE DISPOSITIVE POWER 7,180,482 8 SHARED DISPOSITIVE POWER 35,881 9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 7,219,436 10 CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS) o 11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9) 6.7 % 12 TYPE OF REPORTING PERSON (SEE INSTRUCTIONS) HC FOOTNOTES Item 1. (a) Name of Issuer REGENERON PHARMACEUTICALS, INC. (b) Address of Issuer's Principal Executive Offices 777 Old Saw Mill River Road, Tarrytown, New York 10591-6707 Item 2. (a) Name of Person Filing JPMORGAN CHASE & CO. (b) Address of Principal Business Office or, if none, Residence 383 Madison Avenue New York, NY 10179 (c) Citizenship Delaware (d) Title of Class of Securities Common Stock - par value $.001 per share (e) CUSIP Number 75886F107 Item 3. If this statement is filed pursuant to 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a: (a) o Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o). (b) o Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c). (c) o Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c). (d) o Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C 80a-8). (e) o An investment adviser in accordance with 240.13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with 240.13d-1(b)(1)(ii)(F); (g) x A parent holding company or control person in accordance with 240.13d-1(b)(1)(ii)(G); (h) o A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); (i) o A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3); (j) o A non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J). (k) o A group, in accordance with 240.13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with 240.13d-1(b)(1)(ii)(J), please specify the type of institution: Item 4. Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1. (a) Amount beneficially owned: 7,219,436 (b) Percent of class: 6.7 % (c) Number of shares as to which the person has: (i) Sole power to vote or to direct the vote: 6,521,043 (ii) Shared power to vote or to direct the vote: 25,308 (iii) Sole power to dispose or to direct the disposition of: 7,180,482 (iv) Shared power to dispose or to direct the disposition of: 35,881 Item 5. of Five Percent or Less of a Class If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following o . Item 6. of More than Five Percent on Behalf of Another Person. Not Applicable Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on By the Parent Holding Company J.P. Morgan Trust Company of Delaware J.P. Morgan Securities LLC JPMorgan

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