Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Vertex Pharmaceuticals, Inc. shares valued at $188,178 were sold by Bhatia Sangeeta N. on May 02 ’24. At $402.95 per share, Bhatia Sangeeta N. sold 467 shares. The insider’s holdings dropped to 4,435 shares worth approximately $1.86 million following the completion of this transaction.
Also, Ambrose Kristen sold 240 shares, netting a total of over 100,560 in proceeds. Following the sale of shares at $419.00 each, the insider now holds 7,500 shares.
Before that, Arbuckle Stuart A had sold 5,034 shares from its account. In a trade valued at $2,142,974, the EVP, COO traded Vertex Pharmaceuticals, Inc. shares for $425.70 each. Upon closing the transaction, the insider’s holdings decreased to 5,034 shares, worth approximately $20.81 million.
As published in a research note from Evercore ISI on April 11, 2024, Vertex Pharmaceuticals, Inc. [VRTX] has been rated up from an In-line to an Outperform and the price target has been revised to $438. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid February. As of February 06, 2024, Evercore ISI has decreased its “an Outperform” rating to a “an In-line” for VRTX. Earlier on February 02, 2024, Bernstein downgraded its rating. Their new recommendation was “a Mkt perform” for VRTX stock which previously was a “an Outperform”.
Analyzing VRTX Stock Performance
During the last five days, there has been a surge of approximately 4.15%. Over the course of the year, Vertex Pharmaceuticals, Inc. shares have jumped approximately 2.93%. Shares of the company reached a 52-week high of $448.40 on 01/30/24 and a 52-week low of $391.01 on 04/18/24. A 50-day SMA is recorded $408.04, while a 200-day SMA reached $385.36. Nevertheless, trading volume fell to 1.65 million shares from 1.46 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 412.08, which, if violated, would cause prices to drop to 405.33. In the upper region, resistance lies at 425.61. The next price resistance is at 432.39. RSI (Relative Strength Index) is 65.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 9.16, which suggests the price will increase in the coming days. Percent R is at 19.85%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
