Silk Road Medical Inc’s recent filing unveils that its EVP/Chief Legal Officer/Sec. Klemz Kevin M unloaded Company’s shares for reported $30942.0 on Aug 17. In the deal valued at $20.11 per share,1,539 shares were sold. As a result of this transaction, Klemz Kevin M now holds 38,797 shares worth roughly $ 0.78 million.
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Then, Davis Andrew S. sold 6,587 shares, generating $145,797 in total proceeds. Upon selling the shares at $22.13, the Chief Commercial Officer now owns 109,534 shares.
Before that, Rogers Erica J. sold 1,000 shares. Silk Road Medical Inc shares valued at $31,560 were divested by the President and CEO at a price of $31.56 per share. As a result of the transaction, Rogers Erica J. now holds 269,639 shares, worth roughly $5.44 million.
JP Morgan downgraded its Silk Road Medical Inc [SILK] rating to a Neutral from a an Overweight in a research note published on Friday, July 12, 2023; the price target was decreased to $28 from $50. PT values the company’s stock at a premium of 27.93 to its Friday closing price.
Price Performance Review of SILK
On Friday, Silk Road Medical Inc [NASDAQ:SILK] saw its stock fall -2.37% to $20.18. On the same session, the stock had its day’s lowest price of $19.70, but rose to a high of $20.8215. Over the last five days, the stock has lost -5.04%. Silk Road Medical Inc shares have fallen nearly -61.82% since the year began. Nevertheless, the stocks have fallen -52.85% over the past one year. While a 52-week high of $58.04 was reached on 01/13/23, a 52-week low of $19.42 was recorded on 08/14/23. SMA at 50 days reached $25.03, while 200 days put it at $40.59. A total of 0.78 million shares were traded, compared to the trading of 0.62 million shares in the previous session.
Levels Of Support And Resistance For SILK Stock
The 24-hour chart illustrates a support level at 19.65, which if violated will result in even more drops to 19.11. On the upside, there is a resistance level at 20.77. A further resistance level may holdings at 21.36. The Relative Strength Index (RSI) on the 14-day chart is 37.09, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 0.28, which suggests price will go down in the next trading period. Percent R suggests that price movement has been bearish at 72.26%. Stochastics %K at 52.43% indicates the stock is a holding.
How much short interest is there in Silk Road Medical Inc?
A steep rise in short interest was recorded in Silk Road Medical Inc stocks on Aug 14, 2023, dropping by -0.6 million shares to a total of 1.48 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 2.08 million shares. There was a decline of -40.54%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.89% of the overall stock float, the days-to-cover ratio (short ratio) fell to 1.58.
Silk Road Medical Inc [SILK] – Who Are The Largest Shareholders?
In filings from Wasatch Advisors, Inc., it is revealed that the company now owns 5,246,961 shares, or roughly 13.55% of the outstanding SILK shares. In other words, the investor’s shares have risen by 2,002,423 from its previous 13-F filing of 3244538.0. Additionally, The Vanguard Group, Inc. decreased -2.04% of its stake after which the total value it holdings stand at $79,270,902. Over the last quarter, BlackRock Fund Advisors purchased 288,459 shares of Silk Road Medical Inc, while ClearBridge Investments LLC bought 7,506 shares. At present, American Century Investment Manag is holding 1,456,051 shares valued at $33.26 million. Bellevue Asset Management AG owned 1,356,763 shares of the company at the time of its most recent 13F filing, worth $30.99 million.
According to FactSet, Silk Road Medical Inc’s share price will average $33.00 in the next year, based on opinions of analysts polled by the firm. This is up nearly 69.33 percent from its previous closing price of $20.67. Analysts expect Silk Road Medical Inc stock to reach the higher price of $54.00, while the lowest price estimate is $13.00. However, 9 analysts have rated SILK stock as an Overweight in their predictions for 2023.