Insider Selling: Wise John Drayton, Insmed Incorporated [INSM] Chief Commercial Officer divested 258 shares

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Insmed Incorporated shares valued at $7,170 were sold by Wise John Drayton on Aug 10. At $27.79 per share, Wise John Drayton sold 258 shares. The insider’s holdings dropped to 78,767 shares worth approximately $1.77 million following the completion of this transaction.


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Also, Lewis William sold 216,800 shares, netting a total of over 6,035,570 in proceeds. Following the sale of shares at $27.84 each, the insider now holds 0 shares.

Before that, Smith Michael Alexander had sold 941 shares from its account. In a trade valued at $22,019, the General Counsel, Senior VP traded Insmed Incorporated shares for $23.40 each. Upon closing the transaction, the insider’s holdings decreased to 941 shares, worth approximately $1.14 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 59.77% 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] plunged -5.26% to $22.53. The stock’s lowest price that day was $22.50, but it reached a high of $23.94 in the same session. During the last five days, there has been a drop of approximately -6.63%. Over the course of the year, Insmed Incorporated shares have dropped approximately -17.29%. Shares of the company reached a 52-week high of $28.94 on 08/10/22 and a 52-week low of $16.41 on 05/12/22. A 50-day SMA is recorded $24.47, while a 200-day SMA reached $23.22. Nevertheless, trading volume fell to 1.03 million shares from 0.89 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 22.04, which, if violated, would cause prices to drop to 21.55. In the upper region, resistance lies at 23.48. The next price resistance is at 24.43. RSI (Relative Strength Index) is 38.84 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.77, which suggests the price will decrease in the coming days. Percent R is at 99.04%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is Insmed Incorporated subject to short interest?

Stocks of Insmed Incorporated saw a sharp steep in short interest on Jul 14, 2022 dropping by -2.38 million shares to 9.06 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 11.44 million shares. A decline of -26.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 7.7 of the overall float, the days-to-cover ratio (short ratio) decline to 7.7.

Which companies own the most shares of Insmed Incorporated (INSM)?

According to T. Rowe Price Associates, Inc. filings, the company currently owns 16,222,623 shares, which is about 13.52% of the total INSM shares outstanding. The investor’s shares have appreciated by 364,362 from its previous 13-F filing of 15858261.0 shares. With the completion of the buy transaction, The Vanguard Group, Inc.’s stake is now worth $269,356,193. BlackRock Fund Advisors acquire a 1.56% interest valued at $198.85 million while Janus Henderson Investors US LLC sold a -677,929 stake. A total of -40,901 shares of Insmed Incorporated were sold by Palo Alto Investors LP during the quarter, and 697,428 were bought by SSgA Funds Management, Inc. In its current portfolio, Pictet Asset Management SA holds 3,797,941 shares valued at $93.51 million.

In terms of Insmed Incorporated share price expectations, FactSet research, analysts set an average price target of $48.20 in the next 12 months, up nearly 110.26% from the previous closing price of $23.78. Analysts anticipate Insmed Incorporated stock to reach $58.00 by 2022, with the lowest price target being $38.00. On October 08, 2021, Cantor Fitzgerald assigned a price target of “an Overweight” to the stock and initiated coverage with a $60.

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