NEW YORK (AVAFIN) -- In an effort to determine if stock trades will be profitable, investors often assess block trades data used by both large and
small institutions. By the end of the market session, financial institutions exchanged 66 block trades.
Further analysis into yesterdays's trading activity reveal that 2,960,847 shares were bought and 1,798,776
shares were sold, yielding a 1.65 bought/sold ratio.
On the options side, investors traded a total of 46,079 contracts.
Specifically, 24,597 call and 21,482 put contracts were traded yesterday yielding a 0.87
Elan's decision to spin off Prothena removes a drain on resources, allowing more cash from Tysabri sales to flow to the bottom line.
Additionaly, With the $3.25 billion up-front payment from the Tysabri collaboration restructuring, Elan has plenty of cash to redefine itself.
Elan Corporation, opened at $11.80 and the stock price rose $0.01 (+0.08%)
to $11.89 during the market session. ELN is trading between the range of
$11.68 - $11.95. Performance indicators show that the stock has lost -0.50% within the last week.
Volume is 18M in relation to the three month
average volume of 5M shares. ELN is trading above the 50
day moving average and higher than the 200 day moving average.
Elan is an Ireland-based biotechnology firm. Its BioNeurology focus includes the marketed multiple sclerosis and Crohn's disease drug Tysabri, as well as several research and development-stage programs focused on neuroscience. Elan Drug Technologies was the firm's specialty pharmaceutical business, which generated manufacturing and royalty revenue based on its patented technologies. EDT was sold to specialty pharma firm Alkermes in the second half of 2011.