Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Vertex Pharmaceuticals Incorporated shares valued at $3,565,846 were sold by Kewalramani Reshma on Aug 15. At $305.06 per share, Kewalramani Reshma sold 11,689 shares. The insider’s holdings dropped to 99,598 shares worth approximately $27.93 million following the completion of this transaction.
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Also, Arbuckle Stuart A sold 22,173 shares, netting a total of over 6,738,991 in proceeds. Following the sale of shares at $303.93 each, the insider now holds 45,278 shares.
Before that, Liu Joy had sold 3,747 shares from its account. In a trade valued at $1,138,723, the SVP, General Counsel traded Vertex Pharmaceuticals Incorporated shares for $303.90 each. Upon closing the transaction, the insider’s holdings decreased to 3,747 shares, worth approximately $2.69 million.
As published in their initiating research note from Cantor Fitzgerald on July 13, 2022, Vertex Pharmaceuticals Incorporated [VRTX] has been an Overweight and the price target has been revised to $365. This represents a 23.18% premium over Wednesday’s closing price. Analysts at Maxim Group upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in early June. As of May 23, 2022, SVB Leerink has initiated its “Mkt perform” rating for VRTX. Earlier on May 06, 2022, Robert W. Baird downgraded its rating. Their new recommendation was “a Neutral” for VRTX stock which previously was a “an Outperform”.
Analyzing VRTX’s Price Performance
On Wednesday, Vertex Pharmaceuticals Incorporated [NASDAQ: VRTX] plunged -2.28% to $280.40. The stock’s lowest price that day was $280.24, but it reached a high of $288.31 in the same session. During the last five days, there has been a drop of approximately -1.57%. Over the course of the year, Vertex Pharmaceuticals Incorporated shares have jumped approximately 27.69%. Shares of the company reached a 52-week high of $305.95 on 08/15/22 and a 52-week low of $214.66 on 01/03/22. A 50-day SMA is recorded $287.36, while a 200-day SMA reached $258.98. Nevertheless, trading volume fell to 1.1 million shares from 1.13 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 277.66, which, if violated, would cause prices to drop to 274.91. In the upper region, resistance lies at 285.73. The next price resistance is at 291.05. RSI (Relative Strength Index) is 44.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.90, which suggests the price will decrease in the coming days. Percent R is at 84.44%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.
Is Vertex Pharmaceuticals Incorporated subject to short interest?
Stocks of Vertex Pharmaceuticals Incorporated saw a sharp rise in short interest on Jul 14, 2022 jumping by 0.17 million shares to 3.59 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.42 million shares. A jump of 4.74% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 1.94 of the overall float, the days-to-cover ratio (short ratio) jumped to 1.94.
Which companies own the most shares of Vertex Pharmaceuticals Incorporated (VRTX)?
According to The Vanguard Group, Inc. filings, the company currently owns 19,786,130 shares, which is about 7.72% of the total VRTX shares outstanding. The investor’s shares have appreciated by 327,415 from its previous 13-F filing of 19458715.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $4,501,536,386. Fidelity Management & Research Co acquire a 28.85% interest valued at $4.26 billion while Capital Research & Management Co sold a -96,198 stake. A total of 211,286 shares of Vertex Pharmaceuticals Incorporated were sold by SSgA Funds Management, Inc. during the quarter, and -1,254,811 were sold by AllianceBernstein LP. In its current portfolio, Wellington Management Co. LLP holds 8,235,639 shares valued at $2.32 billion.
In terms of Vertex Pharmaceuticals Incorporated share price expectations, FactSet research, analysts set an average price target of $310.71 in the next 12 months, up nearly 8.21% from the previous closing price of $286.94. Analysts anticipate Vertex Pharmaceuticals Incorporated stock to reach $389.00 by 2022, with the lowest price target being $250.00. In spite of this, 28 analysts ranked Vertex Pharmaceuticals Incorporated stock as an Overweight at the end of 2022. On May 03, 2022, Morgan Stanley assigned a price target of “an Equal-weight” to the stock and upgraded coverage with a $250.