The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Procept BioRobotics Corp shares valued at $1,916,428 were sold by Nouri Alaleh on May 03 ’24. At $62.97 per share, Nouri Alaleh sold 30,432 shares. The insider’s holdings dropped to 62,472 shares worth approximately $3.77 million following the completion of this transaction.
Also, Krummel Thomas M sold 20,000 shares, netting a total of over 1,200,000 in proceeds. Following the sale of shares at $60.00 each, the insider now holds 45,631 shares.
Before that, Zadno Reza had sold 5,391 shares from its account. In a trade valued at $263,243, the President, CEO traded Procept BioRobotics Corp shares for $48.83 each. Upon closing the transaction, the insider’s holdings decreased to 5,391 shares, worth approximately $14.57 million.
As published in their initiating research note from Piper Sandler on August 11, 2023, Procept BioRobotics Corp [PRCT] has been an Overweight and the price target has been revised to $42. Analysts at William Blair started covering the stock with ‘”an Outperform”‘ outlook in a report released in late May. As of October 31, 2022, BTIG Research has initiated its “Neutral” rating for PRCT. Earlier on October 25, 2022, Truist initiated its rating. Their recommendation was “a Buy” for PRCT stock.
Analyzing PRCT Stock Performance
During the last five days, there has been a drop of approximately -0.41%. Over the course of the year, Procept BioRobotics Corp shares have jumped approximately 44.02%. Shares of the company reached a 52-week high of $65.00 on 05/06/24 and a 52-week low of $39.48 on 01/05/24. A 50-day SMA is recorded $50.97, while a 200-day SMA reached $40.62. Nevertheless, trading volume fell to 0.6 million shares from 1.08 million shares the previous day.
Support And Resistance Levels for Procept BioRobotics Corp (PRCT)
According to the 24-hour chart, there is a support level at 59.05, which, if violated, would cause prices to drop to 57.73. In the upper region, resistance lies at 62.78. The next price resistance is at 65.20. RSI (Relative Strength Index) is 63.03 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.24, which suggests the price will increase in the coming days. Percent R is at 28.12%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
