GM Advisory Group LLC Sells 31 Shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

GM Advisory Group LLC reduced its position in shares of Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 5.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 506 shares of the pharmaceutical company’s stock after selling 31 shares during the quarter. GM Advisory Group LLC’s holdings in Vertex Pharmaceuticals were worth $237,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in VRTX. Aveo Capital Partners LLC raised its holdings in Vertex Pharmaceuticals by 77.3% during the 4th quarter. Aveo Capital Partners LLC now owns 1,076 shares of the pharmaceutical company’s stock valued at $438,000 after buying an additional 469 shares during the last quarter. Gryphon Financial Partners LLC raised its holdings in Vertex Pharmaceuticals by 26.5% during the 4th quarter. Gryphon Financial Partners LLC now owns 1,978 shares of the pharmaceutical company’s stock valued at $805,000 after buying an additional 414 shares during the last quarter. Brown Advisory Inc. raised its holdings in Vertex Pharmaceuticals by 25.0% during the 4th quarter. Brown Advisory Inc. now owns 3,522 shares of the pharmaceutical company’s stock valued at $1,433,000 after buying an additional 705 shares during the last quarter. Trexquant Investment LP raised its holdings in Vertex Pharmaceuticals by 161.2% during the 4th quarter. Trexquant Investment LP now owns 3,968 shares of the pharmaceutical company’s stock valued at $1,615,000 after buying an additional 2,449 shares during the last quarter. Finally, Quest Partners LLC bought a new position in Vertex Pharmaceuticals in the 4th quarter worth $33,000. 90.96% of the stock is currently owned by institutional investors.

Vertex Pharmaceuticals Stock Performance

Shares of VRTX stock opened at $464.92 on Friday. Vertex Pharmaceuticals Incorporated has a one year low of $341.85 and a one year high of $510.64. The company’s 50-day moving average is $482.66 and its 200 day moving average is $451.87. The company has a market capitalization of $119.97 billion, a price-to-earnings ratio of 30.17 and a beta of 0.40. The company has a debt-to-equity ratio of 0.02, a quick ratio of 2.26 and a current ratio of 2.52.

Vertex Pharmaceuticals (NASDAQ:VRTX) last announced its quarterly earnings data on Thursday, August 1st. The pharmaceutical company reported ($12.83) EPS for the quarter, missing the consensus estimate of ($12.54) by ($0.29). Vertex Pharmaceuticals had a negative net margin of 4.74% and a negative return on equity of 2.45%. The firm had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.66 billion. During the same period last year, the company posted $3.53 earnings per share. The business’s revenue for the quarter was up 6.1% compared to the same quarter last year. Sell-side analysts expect that Vertex Pharmaceuticals Incorporated will post -2.14 EPS for the current fiscal year.

Analyst Ratings Changes

Several research analysts have commented on the stock. Wells Fargo & Company upped their price objective on shares of Vertex Pharmaceuticals from $540.00 to $555.00 and gave the stock an “overweight” rating in a report on Monday, June 24th. Cantor Fitzgerald restated an “overweight” rating and issued a $480.00 price objective on shares of Vertex Pharmaceuticals in a report on Friday, August 2nd. Needham & Company LLC restated a “hold” rating on shares of Vertex Pharmaceuticals in a report on Friday, July 26th. Truist Financial restated a “buy” rating and issued a $550.00 price objective (up from $508.00) on shares of Vertex Pharmaceuticals in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Vertex Pharmaceuticals from $505.00 to $510.00 and gave the stock an “overweight” rating in a report on Monday, August 5th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $486.36.

Insider Activity at Vertex Pharmaceuticals

In other news, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now owns 4,435 shares of the company’s stock, valued at approximately $2,217,500. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CMO Carmen Bozic sold 2,280 shares of the firm’s stock in a transaction dated Wednesday, June 26th. The shares were sold at an average price of $471.72, for a total transaction of $1,075,521.60. Following the sale, the chief marketing officer now owns 30,099 shares of the company’s stock, valued at approximately $14,198,300.28. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Sangeeta N. Bhatia sold 646 shares of the firm’s stock in a transaction dated Friday, August 30th. The shares were sold at an average price of $500.00, for a total transaction of $323,000.00. Following the sale, the director now directly owns 4,435 shares in the company, valued at approximately $2,217,500. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 34,047 shares of company stock valued at $16,843,806. 0.20% of the stock is owned by insiders.

About Vertex Pharmaceuticals

Vertex Pharmaceuticals Incorporated, a biotechnology company, engages in developing and commercializing therapies for treating cystic fibrosis (CF). It markets TRIKAFTA/KAFTRIO for people with CF with at least one F508del mutation for 2 years of age or older; SYMDEKO/SYMKEVI for people with CF for 6 years of age or older; ORKAMBI for CF patients 1 year or older; and KALYDECO for the treatment of patients with 1 year or older who have CF with ivacaftor.