New insider activity at AbbVie ( (ABBV) ) has taken place on March 5, 2025.
In a series of significant transactions, AbbVie’s top executives have sold substantial amounts of company stock. EVP Richard A. Gonzalez led the sales by offloading 171,837 shares, amounting to a whopping $35,272,328. Following him, EVP HR Timothy Richmond sold 38,154 shares, generating $7,937,696. Additionally, EVP, GC & Sec Perry C Siatis parted with 27,900 shares, bringing in $5,822,401. These transactions highlight a notable shift in stock holdings among AbbVie’s executive team.
Recent Updates on ABBV stock
In the last 24 hours, AbbVie has seen significant developments impacting its stock. Bank of America raised its price target for AbbVie, citing the company’s new license agreement with Gubra to develop a long-acting amylin analog for obesity treatment. This strategic expansion into obesity treatment is seen as enhancing AbbVie’s long-term growth potential, contributing to a defensive rally in the pharma sector. Additionally, AbbVie announced a leadership change with CEO Robert A. Michael being appointed as chairman, succeeding Richard A. Gonzalez. The European Medicines Agency’s Committee for Medicinal Products for Human Use also recommended the approval of upadacitinib for treating GCA, which could make it the first oral advanced therapy for this condition. These developments highlight AbbVie’s strategic growth initiatives and potential market expansion, influencing analyst sentiment and stock valuation.
More about AbbVie
YTD Price Performance: 18.74%
Average Trading Volume: 6,023,430
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $369B