Shares of AbbVie (ABBV) Sees Large Outflow of Money

AbbVie (ABBV): The stock had negative money flow to the tune of ($11.24 million) on Thursday, which shows that the traders are selling the stock on the price strength. The inflow of money on upticks was $56.78 million, whereas, the outflow of money on downticks was $68.01 million and the ratio between the two was 0.83. The block trade had a negative net money flow of ($14 million). The total block trade value undertaken on upticks was $4.03 million. On the other hand, downticks amounted to $18.03 million of the traded value, which shows distribution in the stock by traders. The ratio between uptick and downtick was 0.22. AbbVie (ABBV) closed with marginal gains of 6 cents to end the day at $63.43, an increase of 0.09% over the previous days close. The stock recorded 1.15% for the week.


AbbVie (ABBV) stock is expected to deviate a maximum of $10.83 from the average target price of $71.77 for the short term period. 13 Street Experts have initiated coverage on the stock with the most promising target being $90 and the most muted being $47. The stock has recorded a 20-day Moving Average of 4.27% and the 50-Day Moving Average is 3.16%.

AbbVie (NYSE:ABBV): During Thursdays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $63.60 and $63.21 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $63.75. The buying momentum continued till the end and the stock did not give up its gains. It closed at $63.43, notching a gain of 0.09% for the day. The total traded volume was 7,081,909 . The stock had closed at $63.37 on the previous day.

AbbVie Inc. (AbbVie) is a global, research-based biopharmaceutical company. The Company develops and markets therapies that address a range of diseases. The Companys products are focused on treating conditions, such as chronic autoimmune diseases, including rheumatoid arthritis, psoriasis and Crohns disease; hepatitis C (HCV); human immunodeficiency virus (HIV); endometriosis; thyroid disease; Parkinsons disease; complications associated with chronic kidney disease and cystic fibrosis, and other health conditions, such as low testosterone. AbbVie also has a pipeline of new medicines, including over 30 compounds or indications in Phase II or Phase III development across a range of medical specialties, such as immunology, virology/liver disease, oncology, renal disease, neurological diseases and womens health. The Companys product portfolio includes HUMIRA, HCV products, Additional Virology products, Metabolics/Hormones products, Endocrinology products and other products.

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