Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Insmed Incorporated shares valued at $41,127 were sold by Adsett Roger on May 17. At $20.34 per share, Adsett Roger sold 2,022 shares. The insider’s holdings dropped to 145,982 shares worth approximately $2.84 million following the completion of this transaction.
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Also, Lewis William sold 5,996 shares, netting a total of over 120,999 in proceeds. Following the sale of shares at $20.18 each, the insider now holds 255,828 shares.
Before that, Smith Michael Alexander had sold 1,055 shares from its account. In a trade valued at $21,490, the General Counsel, Senior VP traded Insmed Incorporated shares for $20.37 each. Upon closing the transaction, the insider’s holdings decreased to 1,055 shares, worth approximately $0.98 million.
As published in their initiating research note from Goldman on April 27, 2022, Insmed Incorporated [INSM] has been a Buy and the price target has been revised to $56. This represents a 65.23% premium over Wednesday’s closing price. Analysts at JP Morgan started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December.
Analyzing INSM’s Price Performance
On Wednesday, Insmed Incorporated [NASDAQ: INSM] rose 0.46% to $19.47. The stock’s lowest price that day was $18.99, but it reached a high of $20.31 in the same session. During the last five days, there has been a surge of approximately 11.96%. Over the course of the year, Insmed Incorporated shares have dropped approximately -28.52%. Shares of the company reached a 52-week high of $28.74 on 01/04/22 and a 52-week low of $16.41 on 05/12/22. A 50-day SMA is recorded $20.59, while a 200-day SMA reached $24.68. Nevertheless, trading volume fell to 1.35 million shares from 0.83 million shares the previous day.
Support And Resistance Levels for Insmed Incorporated (INSM)
According to the 24-hour chart, there is a support level at 18.87, which, if violated, would cause prices to drop to 18.27. In the upper region, resistance lies at 20.19. The next price resistance is at 20.91. RSI (Relative Strength Index) is 51.60 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.47, which suggests the price will decrease in the coming days. Percent R is at 26.69%, indicating bullish price movement. Stochastics %K at holding indicates that the stock is to be held.
Which companies own the most shares of Insmed Incorporated (INSM)?
According to T. Rowe Price Associates, Inc. filings, the company currently owns 15,858,261 shares, which is about 13.27% of the total INSM shares outstanding. The investor’s shares have appreciated by 537,057 from its previous 13-F filing of 15321204.0 shares. With the completion of the sale, The Vanguard Group, Inc.’s stake is now worth $202,758,907. BlackRock Fund Advisors acquire a 0.42% interest valued at $149.68 million while Janus Henderson Investors US LLC sold a -223,566 stake. A total of -144,407 shares of Insmed Incorporated were sold by Palo Alto Investors LP during the quarter, and 767,876 were bought by SSgA Funds Management, Inc. In its current portfolio, William Blair Investment Manageme holds 3,607,569 shares valued at $67.89 million.
In terms of Insmed Incorporated share price expectations, FactSet research, analysts set an average price target of $48.45 in the next 12 months, up nearly 147.68% from the previous closing price of $19.38. Analysts anticipate Insmed Incorporated stock to reach $57.00 by 2022, with the lowest price target being $40.00. In spite of this, 11 analysts ranked Insmed Incorporated stock as a Buy at the end of 2022. On October 08, 2021, Cantor Fitzgerald assigned a price target of “an Overweight” to the stock and initiated coverage with a $60.