Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Vertex Pharmaceuticals Incorporated shares valued at $11,377 were sold by Sanna Bastiano on May 16. At $252.83 per share, Sanna Bastiano sold 45 shares. The insider’s holdings dropped to 41,749 shares worth approximately $11.37 million following the completion of this transaction.
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Also, Arbuckle Stuart A sold 133 shares, netting a total of over 33,408 in proceeds. Following the sale of shares at $251.19 each, the insider now holds 64,760 shares.
Before that, Liu Joy had sold 133 shares from its account. In a trade valued at $33,633, the SVP, General Counsel traded Vertex Pharmaceuticals Incorporated shares for $252.88 each. Upon closing the transaction, the insider’s holdings decreased to 133 shares, worth approximately $3.9 million.
As published in a research note from Maxim Group on June 01, 2022, Vertex Pharmaceuticals Incorporated [VRTX] has been rated up from a Hold to a Buy and the price target has been revised to $325. This represents a 16.21% premium over Wednesday’s closing price. Analysts at SVB Leerink started covering the stock with ‘”a Mkt perform”‘ outlook in a report released in late May. As of May 06, 2022, Robert W. Baird has decreased its “an Outperform” rating to a “Neutral” for VRTX. Earlier on May 03, 2022, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for VRTX stock which previously was a “an Underweight”.
Analyzing VRTX’s Price Performance
On Wednesday, Vertex Pharmaceuticals Incorporated [NASDAQ: VRTX] rose 0.79% to $272.31. The stock’s lowest price that day was $266.4376, but it reached a high of $276.00 in the same session. During the last five days, there has been a surge of approximately 9.33%. Over the course of the year, Vertex Pharmaceuticals Incorporated shares have jumped approximately 24.00%. Shares of the company reached a 52-week high of $292.75 on 04/14/22 and a 52-week low of $214.66 on 01/03/22. A 50-day SMA is recorded $265.20, while a 200-day SMA reached $227.05. Nevertheless, trading volume fell to 1.35 million shares from 1.33 million shares the previous day.
Support And Resistance Levels for Vertex Pharmaceuticals Incorporated (VRTX)
According to the 24-hour chart, there is a support level at 267.17, which, if violated, would cause prices to drop to 262.02. In the upper region, resistance lies at 276.73. The next price resistance is at 281.14. RSI (Relative Strength Index) is 57.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 6.17, which suggests the price will increase in the coming days. Percent R is at 18.97%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Vertex Pharmaceuticals Incorporated (VRTX)?
According to The Vanguard Group, Inc. filings, the company currently owns 19,458,715 shares, which is about 7.61% of the total VRTX shares outstanding. The investor’s shares have appreciated by 347,473 from its previous 13-F filing of 19111242.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $4,051,183,166. Capital Research & Management Co acquire a 9.94% interest valued at $3.4 billion while SSgA Funds Management, Inc. sold a -304,152 stake. A total of 3,740,586 shares of Vertex Pharmaceuticals Incorporated were sold by Fidelity Management & Research Co during the quarter, and 111,270 were bought by AllianceBernstein LP. In its current portfolio, Wellington Management Co. LLP holds 8,053,710 shares valued at $2.16 billion.
In terms of Vertex Pharmaceuticals Incorporated share price expectations, FactSet research, analysts set an average price target of $294.73 in the next 12 months, up nearly 7.15% from the previous closing price of $270.17. Analysts anticipate Vertex Pharmaceuticals Incorporated stock to reach $368.00 by 2022, with the lowest price target being $240.00. In spite of this, 27 analysts ranked Vertex Pharmaceuticals Incorporated stock as an Overweight at the end of 2022. On February 03, 2022, RBC Capital Mkts assigned a price target of “a Sector perform” to the stock and downgraded coverage with a $269.