AbbVie Unusual Options Activity
Portfolio Pulse from Benzinga Insights
A significant bearish stance has been taken on AbbVie (NYSE:ABBV) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is split between 36% bullish and 63% bearish. The whales have been targeting a price range from $55.0 to $160.0 for AbbVie over the last 3 months. Barclays has upgraded its action to Overweight with a price target of $170, while Morgan Stanley maintains their Overweight rating with a price target of $196.
October 30, 2023 | 2:46 pm
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Unusual options activity indicates a significant bearish stance on AbbVie. The sentiment among big-money traders is more bearish than bullish. Barclays and Morgan Stanley have positive outlooks on the stock.
The unusual options activity, with a significant bearish stance, could potentially drive the stock price down in the short term. However, positive outlooks from Barclays and Morgan Stanley might counterbalance this effect to some extent.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100