Insmed Incorporated’s filing revealed that its General Counsel, Senior VP Smith Michael Alexander unloaded Company’s shares for reported $14933.0 on Jul 11. In the deal valued at $20.18 per share,740 shares were sold. As a result of this transaction, Smith Michael Alexander now holds 77,142 shares worth roughly $ 2.03 million.
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Then, Adsett Roger sold 8,981 shares, generating $173,513 in total proceeds. Upon selling the shares at $19.32, the Chief Operating Officer now owns 151,352 shares.
Before that, Flammer Martina M.D. sold 8,868 shares. Insmed Incorporated shares valued at $170,886 were divested by the Chief Medical Officer at a price of $19.27 per share. As a result of the transaction, Flammer Martina M.D. now holds 106,038 shares, worth roughly $2.8 million.
Guggenheim initiated its Insmed Incorporated [INSM] rating to a Buy in a research note published on Tuesday, July 26, 2023; the price target was $50. PT values the company’s stock at a premium of 47.26 to its Tuesday closing price.
Price Performance Review of INSM
On Tuesday, Insmed Incorporated [NASDAQ:INSM] saw its stock jump 16.48% to $26.37. On the same session, the stock had its day’s lowest price of $23.995, but rose to a high of $27.15. Over the last five days, the stock has gained 21.97%. Insmed Incorporated shares have risen nearly 31.98% since the year began. Nevertheless, the stocks have risen 4.68% over the past one year. While a 52-week high of $25.64 was reached on 09/05/23, a 52-week low of $16.04 was recorded on 03/24/23. SMA at 50 days reached $21.41, while 200 days put it at $19.71. A total of 9.45 million shares were traded, compared to the trading of 0.86 million shares in the previous session.
Levels Of Support And Resistance For INSM Stock
The 24-hour chart illustrates a support level at 24.53, which if violated will result in even more drops to 22.68. On the upside, there is a resistance level at 27.68. A further resistance level may holdings at 28.99. The Relative Strength Index (RSI) on the 14-day chart is 79.03, which indicates overbought technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 1.35, which suggests price will go up in the next trading period. Percent R suggests that price movement has been bullish at 13.13%. Stochastics %K at 82.82% indicates the stock is a selling.
How much short interest is there in Insmed Incorporated?
A steep rise in short interest was recorded in Insmed Incorporated stocks on Aug 14, 2023, growing by 1.47 million shares to a total of 11.12 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 9.65 million shares. There was a rise of 13.22%, which implies that there is a positive sentiment for the stock. In spite of short shares comprising just 7.84% of the overall stock float, the days-to-cover ratio (short ratio) rose to 8.91.
Insmed Incorporated [INSM] – Who Are The Largest Shareholders?
In filings from The Vanguard Group, Inc., it is revealed that the company now owns 12,929,276 shares, or roughly 9.48% of the outstanding INSM shares. In other words, the investor’s shares have fallen by -52,686 from its previous 13-F filing of 12981962.0. Additionally, T. Rowe Price Associates, Inc. increased 1.87% of its stake after which the total value it holdings stand at $219,400,906, while BlackRock Fund Advisors added 1.44% of its stake to hold $201.31 million in the firm. Over the last quarter, T. Rowe Price Investment Manageme sold -111,116 shares of Insmed Incorporated, while Deep Track Capital LP sold 0 shares. At present, SSgA Funds Management, Inc. is holding 6,020,579 shares valued at $132.99 million. Palo Alto Investors LP owned 5,889,491 shares of the company at the time of its most recent 13F filing, worth $130.1 million.
According to FactSet, Insmed Incorporated’s share price will average $41.23 in the next year, based on opinions of analysts polled by the firm. This is up nearly 81.1 percent from its previous closing price of $22.64. Analysts expect Insmed Incorporated stock to reach the higher price of $52.00, while the lowest price estimate is $30.00. However, 13 analysts have rated INSM stock as a Buy in their predictions for 2023.