Insmed Inc [INSM] Insider Activity: An Update for Investors

In a filing, Insmed Inc revealed its Chief Operating Officer Adsett Roger unloaded Company’s shares for reported $0.15 million on Jan 12 ’24. In the deal valued at $28.63 per share,5,251 shares were sold. As a result of this transaction, Adsett Roger now holds 148,559 shares worth roughly $4.02 million.

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Then, Flammer Martina M.D. sold 4,667 shares, generating $133,616 in total proceeds. Upon selling the shares at $28.63, the Chief Medical Officer now owns 106,898 shares.

Before that, Adsett Roger sold 3,536 shares. Insmed Inc shares valued at $102,190 were divested by the Chief Operating Officer at a price of $28.90 per share. As a result of the transaction, Adsett Roger now holds 153,810 shares, worth roughly $4.17 million.

Wolfe Research initiated its Insmed Inc [INSM] rating to an Outperform in a research note published on February 15, 2024; the price target was $42. A number of analysts have revised their coverage, including Wells Fargo’s analysts, who began to cover the stock in early December with a ‘”an Overweight”‘ rating. Guggenheim started covering the stock on July 26, 2023. It rated INSM as “a Buy”.

Price Performance Review of INSM

On Monday, Insmed Inc [NASDAQ:INSM] saw its stock fall -2.66% to $27.08. Over the last five days, the stock has lost -4.21%. Insmed Inc shares have fallen nearly -12.62% since the year began. Nevertheless, the stocks have risen 42.53% over the past one year. While a 52-week high of $32.00 was reached on 01/02/24, a 52-week low of $16.04 was recorded on 02/22/24. SMA at 50 days reached $28.45, while 200 days put it at $24.74. A total of 1.05 million shares were traded, compared to the trading of 1.59 million shares in the previous session.

Levels Of Support And Resistance For INSM Stock

The 24-hour chart illustrates a support level at 26.77, which if violated will result in even more drops to 26.45. On the upside, there is a resistance level at 27.70. A further resistance level may holdings at 28.31. The Relative Strength Index (RSI) on the 14-day chart is 42.82, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at -0.39, which suggests price will go down in the next trading period. Percent R suggests that price movement has been low at 54.09%. Stochastics %K at 54.24% indicates the stock is a holding.

How much short interest is there in Insmed Inc?

A steep rise in short interest was recorded in Insmed Inc stocks on Feb 15, 2024, dropping by -0.29 million shares to a total of 9.23 million shares. Yahoo Finance data shows the prior-month short interest on Jan 12, 2024 was 9.52 million shares. There was a decline of -3.14%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 6.33% of the overall stock float, the days-to-cover ratio (short ratio) fell to 5.53.

The most recent change occurred on December 09, 2022 when Mizuho began covering the stock and recommended ‘”a Buy”‘ rating along with a $28 price target.

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