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Vertex Pharmaceuticals, Inc. [VRTX] Shares Fall -0.80 % on Wednesday

Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Vertex Pharmaceuticals, Inc. shares valued at $1,075,522 were sold by Bozic Carmen on Jun 26 ’24. At $471.72 per share, Bozic Carmen sold 2,280 shares. The insider’s holdings dropped to 30,099 shares worth approximately $14.15 million following the completion of this transaction.

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Also, Atkinson Edward Morrow III sold 7,288 shares, netting a total of over 3,483,664 in proceeds. Following the sale of shares at $478.00 each, the insider now holds 15,972 shares.

Before that, Bozic Carmen had sold 2,280 shares from its account. In a trade valued at $1,089,840, the EVP and CMO traded Vertex Pharmaceuticals, Inc. shares for $478.00 each. Upon closing the transaction, the insider’s holdings decreased to 2,280 shares, worth approximately $15.22 million.

As published in their initiating research note from Redburn Atlantic on June 27, 2024, Vertex Pharmaceuticals, Inc. [VRTX] has been a Buy and the price target has been revised to $545. Analysts at Evercore ISI upgraded the stock from ‘”an In-line”‘ to ‘”an Outperform”‘ outlook in a report released in mid April. As of February 15, 2024, Wolfe Research has initiated its “an Outperform” rating for VRTX. Earlier on February 06, 2024, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for VRTX stock which previously was a “an Outperform”.

Analyzing VRTX Stock Performance

During the last five days, there has been a drop of approximately -0.84%. Over the course of the year, Vertex Pharmaceuticals, Inc. shares have jumped approximately 15.51%. Shares of the company reached a 52-week high of $486.42 on 06/07/24 and a 52-week low of $391.01 on 04/18/24. A 50-day SMA is recorded $446.71, while a 200-day SMA reached $406.70. Nevertheless, trading volume fell to 0.71 million shares from 0.85 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 465.02, which, if violated, would cause prices to drop to 459.76. In the upper region, resistance lies at 476.53. The next price resistance is at 482.78. RSI (Relative Strength Index) is 54.56 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.10, which suggests the price will decrease in the coming days. Percent R is at 65.93%, indicating low price movement. Stochastics %K at holding indicates that the stock is to be held.

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