Large Inflow of Money Detected in Celgene Corporation

Celgene Corporation (CELG) stock had a bullish inflow of $101.52 million worth of trades on uptick and an outflow of $68.35 million in downticks on Tuesday. The total uptick to downtick ratio stood at 1.49. The net money flow into the stock was $33.17 million. The money flow data, which is calculated as the dollar value of composite uptick minus the downtick trades indicated bullish. The block trades had a total money flow of $38.94 million. An inflow of $3.96 million block trade was recorded on downticks. $42.9 million of block trade during Uptick was observed, which shows continued buying by the smart money on every weakness. The total uptick to downtick ratio of block trades was 10.82 in favor of the bulls. However, Celgene Corporation (CELG) stock traded down $0.93 , and reached $107.02, a drop of -0.86% over the previous day. On a weekly basis, the stock is -1.63%, over the previous weeks close.


Also, Equity Analysts at the Brokerage Firm, BTIG Research, upgrades their rating on the shares of Celgene Corporation (NASDAQ:CELG). BTIG Research has a Buy rating on the shares. Previously, the analysts had a Neutral rating on the shares. The rating by the firm was issued on August 4, 2016.

Celgene Corporation has lost 6.13% in the last five trading days and dropped 6.69% in the last 4 weeks. Celgene Corporation is up 0.94% in the last 3-month period. Year-to-Date the stock performance stands at -10.64%.

Celgene Corporation (NASDAQ:CELG): The stock opened at $107.89 on Tuesday but the bulls could not build on the opening and the stock topped out at $108.51 for the day. The stock traded down to $106.74 during the day, due to lack of any buying support eventually closed down at $107.02 with a loss of -0.86% for the day. The stock had closed at $107.95 on the previous day. The total traded volume was 3,196,596 shares.

In a related news, The Securities and Exchange Commission has divulged that Hugin Robert J, director officer (see remarks) of Celgene Corp /De/, had unloaded 100,000 shares at an average price of $110 in a transaction dated on July 28, 2016. The total value of the transaction was worth $11,000,000.

Celgene Corporation (Celgene), together with its subsidiaries, is an integrated biopharmaceutical company engaged primarily in the discovery, development and commercialization of therapies for the treatment of cancer and inflammatory diseases through gene and protein regulation. The Companys primary commercial stage products include REVLIMID (lenalidomide), ABRAXANE, POMALYST/IMNOVID, VIDAZA, azacitidine for injection (generic version of VIDAZA), THALOMID (sold as THALOMID or Thalidomide Celgene outside the United States), OTEZLA (apremilast) and ISTODAX (romidepsin). Celgene is involved in research in a range of scientific areas designed to deliver therapies, targeting areas, including intracellular signaling pathways, protein homeostasis and epigenetics in cancer and immune cells, immunomodulation in cancer and autoimmune diseases, and therapeutic application of cell therapies.

Leave a Reply

Get Pre-Market Alerts!

Get Pre-Market Analysts' Upgrades, Downgrades, Earnings & Initiations with our FREE daily email newsletter.