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 $100,560 were sold by Ambrose Kristen on Apr 02 ’24. At $419.00 per share, Ambrose Kristen sold 240 shares. The insider’s holdings dropped to 7,500 shares worth approximately $2.98 million following the completion of this transaction.
Also, Arbuckle Stuart A sold 5,034 shares, netting a total of over 2,142,974 in proceeds. Following the sale of shares at $425.70 each, the insider now holds 49,691 shares.
Before that, ALTSHULER DAVID had sold 4,239 shares from its account. In a trade valued at $1,804,542, the EVP, Global Research and CSO traded Vertex Pharmaceuticals, Inc. shares for $425.70 each. Upon closing the transaction, the insider’s holdings decreased to 4,239 shares, worth approximately $10.26 million.
As published in their initiating research note from Wolfe Research on February 15, 2024, Vertex Pharmaceuticals, Inc. [VRTX] has been an Outperform and the price target has been revised to $515. Analysts at Evercore ISI downgraded the stock from ‘”an Outperform”‘ to ‘”an In-line”‘ outlook in a report released in early February. As of February 02, 2024, Bernstein has decreased its “an Outperform” rating to a “Mkt perform” for VRTX. Earlier on January 31, 2024, Robert W. Baird downgraded its rating. Their new recommendation was “an Underperform” for VRTX stock which previously was a “a Neutral”.
Analyzing VRTX Stock Performance
During the last five days, there has been a drop of approximately -2.75%. Over the course of the year, Vertex Pharmaceuticals, Inc. shares have dropped approximately -2.29%. Shares of the company reached a 52-week high of $448.40 on 01/30/24 and a 52-week low of $394.81 on 04/10/24. A 50-day SMA is recorded $418.37, while a 200-day SMA reached $380.47. Nevertheless, trading volume fell to 1.02 million shares from 0.75 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 394.59, which, if violated, would cause prices to drop to 391.61. In the upper region, resistance lies at 400.78. The next price resistance is at 403.99. RSI (Relative Strength Index) is 33.11 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.11, which suggests the price will decrease in the coming days. Percent R is at 89.60%, indicating bearish price movement. Stochastics %K at buying 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 Mar 28, 2024 dropping by 70000.0 shares to 3.98 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 4.05 million shares. A decline of -1.76% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 3.84 of the overall float, the days-to-cover ratio (short ratio) decline to 3.84.
