Taking a Closer Look At Amgen Inc. (AMGN) Following Its Recent Trade


Amgen Inc.’s recently made public that its SVP, Business Development Khosla Rachna unloaded Company’s shares for reported $0.11 million on Nov 09. In the deal valued at $292.90 per share,387 shares were sold. As a result of this transaction, Khosla Rachna now holds 6,630 shares worth roughly $ 1.54 million.

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Then, Grygiel Nancy A. sold 545 shares, generating $159,977 in total proceeds. Upon selling the shares at $293.54, the SVP & CCO now owns 13,009 shares.

Before that, Williams R Sanders sold 200 shares. Amgen Inc. shares valued at $49,992 were divested by the Director at a price of $249.96 per share. As a result of the transaction, Williams R Sanders now holds 5,301 shares, worth roughly $1.23 million.

Truist reiterated its Amgen Inc. [AMGN] rating to a Buy in a research note published on Tuesday, February 13, 2023; the price target was $260. PT values the company’s stock at a premium of 10.9 to its Tuesday closing price. A number of analysts have revised their coverage, including Credit Suisse’s analysts, who began to cover the stock in mid November with a ‘”an Underperform”‘ rating. Barclays also remained covering AMGN and has decreased its forecast on October 31, 2022 with a “an Underweight” recommendation from previously “an Equal weight” rating. Morgan Stanley revised its rating on October 11, 2022. It rated AMGN as “an Overweight” which previously was an “an Equal-weight”.

Price Performance Review of AMGN

On Tuesday, Amgen Inc. [NASDAQ:AMGN] saw its stock fall -1.19% to $231.66. On the same session, the stock had its day’s lowest price of $231.60, but rose to a high of $234.47. Over the last five days, the stock has lost -2.76%. Amgen Inc. shares have fallen nearly -11.80% since the year began. Nevertheless, the stocks have risen 2.04% over the past one year. While a 52-week high of $296.67 was reached on 01/11/23, a 52-week low of $222.53 was recorded on 02/28/23. SMA at 50 days reached $254.93, while 200 days put it at $252.78. A total of 2.62 million shares were traded, compared to the trading of 1.72 million shares in the previous session.

Levels Of Support And Resistance For AMGN Stock

The 24-hour chart illustrates a support level at 230.68, which if violated will result in even more drops to 229.71. On the upside, there is a resistance level at 233.55. A further resistance level may holdings at 235.45. The Relative Strength Index (RSI) on the 14-day chart is 29.49, which indicates oversold technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -4.89, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 99.52%. Stochastics %K at 5.80% indicates the stock is a buying.

How much short interest is there in Amgen Inc.?

A steep rise in short interest was recorded in Amgen Inc. stocks on Jan 12, 2023, dropping by -0.68 million shares to a total of 8.78 million shares. Yahoo Finance data shows the prior-month short interest on Dec 14, 2022 was 9.46 million shares. There was a decline of -7.74%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 1.65% of the overall stock float, the days-to-cover ratio (short ratio) fell to 3.58.

Amgen Inc. [AMGN] – Who Are The Largest Shareholders?

In filings from The Vanguard Group, Inc., it is revealed that the company now owns 45,751,882 shares, or roughly 8.57% of the outstanding AMGN shares. In other words, the investor’s shares have risen by 560,972 from its previous 13-F filing of 45190910.0. Additionally, BlackRock Fund Advisors increased 6.18% of its stake after which the total value it holdings stand at $7,737,793,231, while SSgA Funds Management, Inc. added 2.08% of its stake to hold $7.49 billion in the firm. Over the last quarter, PRIMECAP Management Co. sold -272,657 shares of Amgen Inc., while Capital Research & Management Co sold -687,700 shares. At present, Geode Capital Management LLC is holding 11,375,567 shares valued at $2.87 billion. Charles Schwab Investment Managem owned 9,287,286 shares of the company at the time of its most recent 13F filing, worth $2.34 billion.

According to FactSet, Amgen Inc.’s share price will average $254.11 in the next year, based on opinions of analysts polled by the firm. This is up nearly 10.47 percent from its previous closing price of $234.45. Analysts expect Amgen Inc. stock to reach the higher price of $325.00, while the lowest price estimate is $175.00. However, 26 analysts have rated AMGN stock as a Hold in their predictions for 2023. The most recent change occurred on May 23, 2022 when SVB Leerink began covering the stock and recommended ‘”a Mkt perform”‘ rating along with a $256 price target.


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