Large Inflow of Money Detected in Amgen

Amgen (AMGN) : Investors lapped up stocks on upticks to the tune of $76.62 million in the Tuesdays trading session. The trading value on downticks was comparatively at $59.91 million and the uptick to downtick ratio of 1.28 indicates continuous buying by the bulls. The net money flow into the stock was $16.71 million. The block trades were dominated by the bulls with a healthy 6.74, uptick to downtick ratio. Only $3.25 million worth of trades exchanged hands on downticks showing the reluctance of the large traders to part with their holdings. Upticks saw transactions worth $21.94 clearly indicating buying by large investors. The total money flow for block trades stood at $18.69 million, which is a positive for the stock in the long-term. Amgen (AMGN) fell $0.75 during the day at $170.76, a drop of -0.44% over the previous days close. However, for the week, the stock is -0.7%, compared to the previous week.


Also, Gabelli & Co. initiates coverage on Amgen (NASDAQ:AMGN) . Analysts at the Gabelli & Co. have a current rating of Hold on the shares. The rating by the firm was issued on August 26, 2016.

Amgen Inc. has lost 2.09% in the last five trading days and dropped 1.38% in the last 4 weeks. Amgen Inc. is up 8.67% in the last 3-month period. Year-to-Date the stock performance stands at 7.24%.

Amgen (NASDAQ:AMGN): The stock opened at $171.16 on Tuesday but the bulls could not build on the opening and the stock topped out at $171.94 for the day. The stock traded down to $170.12 during the day, due to lack of any buying support eventually closed down at $170.76 with a loss of -0.44% for the day. The stock had closed at $171.51 on the previous day. The total traded volume was 1,803,720 shares.

In a related news, The Securities and Exchange Commission has divulged that Such Annette Louise, officer (VP, Finance and CAO) of Amgen Inc, had unloaded 3,000 shares at an average price of $174.59 in a transaction dated on August 2, 2016. The total value of the transaction was worth $523,770.

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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