Summit Trail Advisors LLC Has $854,000 Position in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX)

Summit Trail Advisors LLC reduced its stake in Vertex Pharmaceuticals Incorporated (NASDAQ:VRTX) by 11.0% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,099 shares of the pharmaceutical company’s stock after selling 260 shares during the period. Summit Trail Advisors LLC’s holdings in Vertex Pharmaceuticals were worth $854,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in VRTX. OFI Invest Asset Management acquired a new position in Vertex Pharmaceuticals in the third quarter valued at $25,000. Arlington Trust Co LLC increased its holdings in Vertex Pharmaceuticals by 97.1% during the 4th quarter. Arlington Trust Co LLC now owns 67 shares of the pharmaceutical company’s stock worth $27,000 after purchasing an additional 33 shares in the last quarter. Fortitude Family Office LLC bought a new stake in Vertex Pharmaceuticals during the fourth quarter worth $30,000. Baystate Wealth Management LLC grew its stake in shares of Vertex Pharmaceuticals by 49.0% in the 4th quarter. Baystate Wealth Management LLC now owns 76 shares of the pharmaceutical company’s stock worth $31,000 after acquiring an additional 25 shares in the last quarter. Finally, NBC Securities Inc. purchased a new stake in Vertex Pharmaceuticals in the 3rd quarter valued at about $34,000. Institutional investors own 90.96% of the company’s stock.

Vertex Pharmaceuticals Price Performance

NASDAQ VRTX traded up $5.46 during mid-day trading on Tuesday, hitting $407.96. The stock had a trading volume of 530,180 shares, compared to its average volume of 1,217,409. The company has a quick ratio of 3.78, a current ratio of 3.99 and a debt-to-equity ratio of 0.02. The company has a 50 day simple moving average of $408.44 and a 200 day simple moving average of $400.41. Vertex Pharmaceuticals Incorporated has a 52-week low of $320.01 and a 52-week high of $448.40. The company has a market cap of $105.44 billion, a price-to-earnings ratio of 29.29, a P/E/G ratio of 1.89 and a beta of 0.39.

Vertex Pharmaceuticals (NASDAQ:VRTX) last issued its earnings results on Monday, May 6th. The pharmaceutical company reported $4.76 earnings per share for the quarter, topping the consensus estimate of $3.66 by $1.10. Vertex Pharmaceuticals had a return on equity of 21.91% and a net margin of 36.68%. The business had revenue of $2.69 billion for the quarter, compared to analyst estimates of $2.58 billion. During the same period last year, the company posted $2.67 EPS. The business’s quarterly revenue was up 13.3% on a year-over-year basis. Equities analysts forecast that Vertex Pharmaceuticals Incorporated will post 14.95 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

VRTX has been the subject of a number of recent research reports. JPMorgan Chase & Co. lifted their price objective on shares of Vertex Pharmaceuticals from $390.00 to $438.00 and gave the company an “overweight” rating in a research note on Thursday, February 1st. Evercore ISI raised Vertex Pharmaceuticals from an “in-line” rating to an “outperform” rating and set a $438.00 price target on the stock in a research report on Thursday, April 11th. Piper Sandler boosted their price target on Vertex Pharmaceuticals from $450.00 to $456.00 and gave the stock an “overweight” rating in a research note on Tuesday. Barclays upped their price objective on Vertex Pharmaceuticals from $446.00 to $472.00 and gave the company an “overweight” rating in a research report on Tuesday, February 6th. Finally, Sanford C. Bernstein lowered Vertex Pharmaceuticals from an “outperform” rating to a “market perform” rating in a report on Friday, February 2nd. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Vertex Pharmaceuticals currently has an average rating of “Moderate Buy” and an average price target of $432.18.

Insider Buying and Selling

In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of the firm’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares of the company’s stock, valued at approximately $31,819,732.32. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Vertex Pharmaceuticals news, COO Stuart A. Arbuckle sold 4,295 shares of Vertex Pharmaceuticals stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $420.24, for a total value of $1,804,930.80. Following the completion of the transaction, the chief operating officer now directly owns 75,718 shares in the company, valued at $31,819,732.32. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Kristen Ambrose sold 1,374 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $420.24, for a total transaction of $577,409.76. Following the transaction, the chief accounting officer now directly owns 9,676 shares of the company’s stock, valued at $4,066,242.24. The disclosure for this sale can be found here. Insiders have sold 12,381 shares of company stock valued at $5,203,249 in the last quarter. Company insiders own 0.20% of the company’s stock.

Vertex Pharmaceuticals Company Profile

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.