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Wednesday, October 12, 2011

Insiders Sell For Many Reasons - Is Bearishness One Of Them?: (VRTX), (SGEN), (QDEL), (CCOI), (IRBT)

Shares of Vertex Pharmaceuticals Incorporated (VRTX) traded higher by 0.65% or $0.26/share to $40.21. In the past year, the shares have traded as low as $32.08 and as high as $58.87. On average, 2319840 shares of VRTX exchange hands on a given day and today's volume is recorded at 458047. The shares are currently trading below the 50-day and 200-day moving averages which indicates that the shares have been experiencing downward momentum. The stock may bounce back to test the 200-day moving average. Thus, you may want to pay close attention for a move up to the $46.06 area but be careful because the stock may face selling pressure at this level. The stock has insider ownership of 0.72%.

Shares of Seattle Genetics Inc. (SGEN) fell by 1.92% or $-0.41/share to $20.91. In the past year, the shares have traded as low as $12.29 and as high as $22.37. On average, 2592470 shares of SGEN exchange hands on a given day and today's volume is recorded at 562384. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $17.32 area where the stock will likely see buying pressure. The stock has insider ownership of 1.24%.

Shares of Quidel Corp. (QDEL) fell by 1.15% or $-0.19/share to $16.29. In the past year, the shares have traded as low as $11.20 and as high as $17.21. On average, 171080 shares of QDEL exchange hands on a given day and today's volume is recorded at 19143. The shares are currently trading above the 50-day moving average which indicates that the shares have been experiencing strong upward momentum as the 50 DMA is above the 200 DMA. The stock may come back down to test the 50-day moving average, so look for a move back to the $14.78 area where the stock will likely see buying pressure. The stock has insider ownership of 10.69%.

Shares of Cogent Communications Group Inc. (CCOI) traded higher by 1.63% or $0.24/share to $14.92. In the past year, the shares have traded as low as $9.51 and as high as $17.99. On average, 333950 shares of CCOI exchange hands on a given day and today's volume is recorded at 3514. The shares are currently trading above the 200-day moving average which indicates that the shares have been subject to upward momentum. The 200 DMA is above the 50 DMA which indicates that the stock has likely taken a dip in the shorter term. The stock may eventually drop to test the 200-day moving average where buyers may be lurking near the $14.53 area. The stock has insider ownership of 0.85%.

Shares of iRobot Corporation (IRBT) traded higher by 1.37% or $0.39/share to $28.76. In the past year, the shares have traded as low as $18.41 and as high as $39.00. On average, 428670 shares of IRBT exchange hands on a given day and today's volume is recorded at 13665. The shares are currently trading below the 200-day moving average but above the 50-day moving average. The stock may be range bound between these two levels where the 200-day moving average of $30.03 represents resistance and the 50-day moving average of $26.60 would be an area of support. The stock has insider ownership of 7.71%.