Selling Buzz: Vertex Pharmaceuticals, Inc. [VRTX] Executive Chairman LEIDEN JEFFREY M sells 6,648 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Vertex Pharmaceuticals, Inc. shares valued at $2,785,977 were sold by LEIDEN JEFFREY M on Jan 08. At $419.07 per share, LEIDEN JEFFREY M sold 6,648 shares. The insider’s holdings dropped to 2,423 shares worth approximately $1.03 million following the completion of this transaction.

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Also, WAGNER CHARLES F JR sold 3,000 shares, netting a total of over 1,215,000 in proceeds. Following the sale of shares at $405.00 each, the insider now holds 43,693 shares.

Before that, Kewalramani Reshma had sold 17,135 shares from its account. In a trade valued at $6,973,945, the CEO & President traded Vertex Pharmaceuticals, Inc. shares for $407.00 each. Upon closing the transaction, the insider’s holdings decreased to 17,135 shares, worth approximately $45.99 million.

As published in a research note from Evercore ISI on February 06, 2024, Vertex Pharmaceuticals, Inc. [VRTX] has been rated down from an Outperform to an In-line and the price target has been revised to $438 from $436.

Analyzing VRTX Stock Performance

During the last five days, there has been a drop of approximately -2.49%. Over the course of the year, Vertex Pharmaceuticals, Inc. shares have jumped approximately 3.97%. Shares of the company reached a 52-week high of $448.40 on 01/30/24 and a 52-week low of $403.43 on 01/02/24. A 50-day SMA is recorded $405.96, while a 200-day SMA reached $364.28. Nevertheless, trading volume fell to 1.4 million shares from 1.99 million shares the previous day.

Support And Resistance Levels for Vertex Pharmaceuticals, Inc. (VRTX)

According to the 24-hour chart, there is a support level at 418.64, which, if violated, would cause prices to drop to 414.22. In the upper region, resistance lies at 425.98. The next price resistance is at 428.89. RSI (Relative Strength Index) is 50.29 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -11.18, which suggests the price will decrease in the coming days. Percent R is at 67.39%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Vertex Pharmaceuticals, Inc. subject to short interest?

Stocks of Vertex Pharmaceuticals, Inc. saw a sharp steep in short interest on Jan 11, 2024 dropping by -0.2 million shares to 3.35 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2023 was 3.55 million shares. A decline of -5.97% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.17 of the overall float, the days-to-cover ratio (short ratio) decline to 2.17.

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