Large Inflow of Money Witnessed in Progenics Pharmaceuticals

Progenics Pharmaceuticals (NASDAQ:PGNX) : Wednesdays money flow data in Progenics Pharmaceuticals (NASDAQ:PGNX) suggests that the bulls made the most of the weakness in the stock. The inflow of money into the stock on upticks was $1.15 million, whereas, $0.67 million worth of transactions were done on downticks. The ratio between the two, uptick and downtick stood at 1.71, in favor of the bulls. The total money flow into the stock was $0.48 million clearly indicating that the smart money has been buying into the stock on weakness.

In comparison, the money flow in block deals was $0.38 million. The total value of block trades done on upticks was $0.38 million. Progenics Pharmaceuticals (NASDAQ:PGNX) fell $0.07 and traded at $4.17, down -1.65% for the day, over previous days close. On a weekly basis, the shares are -6.92% over the previous weeks close.


In an insider trading activity, Maddon Paul J, director of Progenics Pharmaceuticals Inc, had purchased 5,000 shares on December 1, 2010. The total value of the transaction was $24,500. The information was disclosed with the SEC in a Form 4 Filing. The information is based on open market trades at the market prices.Option exercises are not covered. Currently the company Insiders own 5.48% of Progenics Pharmaceuticals shares according to the proxy statements. Institutional Investors own 86.44% of Progenics Pharmaceuticals shares.

The company shares have dropped -40.20% from its 1 Year high price. On Jul 28, 2015, the shares registered one year high at $11.15 and the one year low was seen on Feb 9, 2016. The 50-Day Moving Average price is $4.74 and the 200 Day Moving Average price is recorded at $4.78. Progenics Pharmaceuticals (NASDAQ:PGNX): The stock opened at $4.31 on Wednesday but the bulls could not build on the opening and the stock topped out at $4.35 for the day. The stock traded down to $4.08 during the day, due to lack of any buying support eventually closed down at $4.17 with a loss of -1.65% for the day. The stock had closed at $4.24 on the previous day. The total traded volume was 1,472,852 shares.

Progenics Pharmaceuticals, engaged in developing medicines for oncology. The Company completed Phase II clinical trials of two product candidates for prostate cancer, and resumed a pivotal Phase II trial of an ultra-orphan radiotherapy candidate for pheochromocytoma. Its principal clinical-stage product candidates in oncology are PSMA ADC, 1404 (trofolastat) and Azedra. PSMA ADC is a human monoclonal antibody-drug conjugate designed to deliver a chemotherapeutic agent to cancer cells by targeting the three-dimensional structure of the PSMA protein. 1404 (trofolastat) is a radio-labeled small molecule, which binds PSMA and acts as an imaging agent to diagnose and detect prostate cancer. Azedra is a radiotherapeutic product candidate in development as a treatment for pheochromocytoma, a rare tumor found in the adrenal glands, and related paraganglioma tumors occurring in other tissues. The Company also commercializes Relistor, a cure for opioid-induced constipation (OIC).

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