Finance

Analyzing the Insider Data for Progenics Pharmaceuticals, Inc. (PGNX)

Recent insider trends for Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) have caught the attention of investors. Patters in insider activity can help analysts formulate an outlook for a stock. In the case of PGNX, the data has a lot to say about how the stock might perform going forward.

Institutions own 84.67% of Progenics Pharmaceuticals, Inc. (PGNX)’s shares. The total value of these holdings, in millions, is $304. Among active positions in the latest quarter, 65 holders increased their positions by a total of 3.22 million shares, 75 holders decreased the positions by a total of 6.82 million shares, and 30 holders held their positions. This works out to a net decrease in ownership of 3.6 million shares, and suggests that institutions are feeling bearish about the stock.

Among new and sold out positions, 15 holders initiated new positions by a total of 407802 shares and 30 holders exited their positions by a total of 3.96 million shares. This nets out to a decrease of 3.56 million shares and is another bearish sign for PGNX.

Insider ownership increased by a total of 0 shares, which suggests that PGNX’s key executives are feeling more optimistic about the outlook for the stock. The data from the past twelve months tells a different story: insiders executed 5 sells, and ownership decreased by a net of 953900 shares.



Analysts often look at short interest, or the number of shares currently being shorted by investors, to aid in their outlook for a particular stock. Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX)’s short interest is 7.26 million shares, or 10.37% of the float. This represents an increase of 6% in the number of shares being shorted compared to the previous reading, and implies that investors felt more pessimistic about the stock during the past two weeks.

Given what the insider ownership patterns are saying, it makes sense to consider the technicals to see if these pieces of information reach the same conclusion about the outlook for PGNX. A composite of 13 technical indicators that includes measures such as moving averages and momentum oscillators suggests that PGNX is a Strong sell, which implies that PGNX is expected to underperform the market based on prior trading patterns.

Conclusion




Institutional ownership trends suggest that the stock is cheap and the insider trading data indicates that insiders are bullish. Technical indicators (also) suggest that Progenics Pharmaceuticals, Inc. (NASDAQ:PGNX) is overvalued.

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