Shares of Amgen (AMGN) Sees Large Outflow of Money

Amgen (AMGN) : The value of composite uptick trades was $63.25 million, whereas, the value of composite downtick trades was $100.6 million. The uptick to downtick ratio stood at 0.63 with a negative money flow of ($37.35) Million during Wednesdays trading session. The block trades money flow was negative ($32.87 million). The transaction of the trades on downticks amounted to $32.87 million, which confirms investors selling on the strength of price. Amgen (AMGN) gained 76 cents at $163.25, an increase of 0.47% over the previous days close.


Also, Bernstein initiates coverage on Amgen (NASDAQ:AMGN) . Analysts at the Bernstein have a current rating of Market Perform on the shares. The rating by the firm was issued on June 29, 2016.

Amgen (NASDAQ:AMGN): During Wednesdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $162.45 and $161.82 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $163.65. The buying momentum continued till the end and the stock did not give up its gains. It closed at $163.25, notching a gain of 0.47% for the day. The total traded volume was 2,161,425 . The stock had closed at $162.49 on the previous day.

The stock has recorded a 20-day Moving Average of 5% and the 50-Day Moving Average is 5.53%. In a related news,The officer (EVP, Operations) of Amgen Inc, Balachandran Madhavan sold 30,000 shares at $154.12 on May 4, 2016. The Insider selling transaction had a total value worth of $4,623,600. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Amgen Inc. (Amgen) is a biotechnology company. The Company is engaged in discovering, developing, manufacturing and delivering human therapeutics. The Companys sales and marketing forces are located in the United States and Europe. In the United States, it sells its products to pharmaceutical wholesale distributors. The Company also markets certain products directly to consumers through direct-to-consumer print and television advertising, as well as through the Internet. Outside the United States, the Company sells its products to healthcare providers and/or pharmaceutical wholesale distributors. The Companys products include Neulasta (pegfilgrastim)/NEUPOGEN (filgrastim), Enbrel (etanercept), XGEVA/Prolia (denosumab), ESAs (erythropoiesis-stimulating agents), Sensipar/Mimpara (cinacalcet), Kyprolis and Evolocumab, among others.

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