Investors can speculate about the future of a stock by watching how its insiders buy and sell stocks. Insmed Inc shares valued at $150,336 were sold by Adsett Roger on Jan 12 ’24. At $28.63 per share, Adsett Roger sold 5,251 shares. The insider’s holdings dropped to 148,559 shares worth approximately $4.22 million following the completion of this transaction.
Also, Flammer Martina M.D. sold 4,667 shares, netting a total of over 133,616 in proceeds. Following the sale of shares at $28.63 each, the insider now holds 106,898 shares.
Before that, Adsett Roger had sold 3,536 shares from its account. In a trade valued at $102,190, the Chief Operating Officer traded Insmed Inc shares for $28.90 each. Upon closing the transaction, the insider’s holdings decreased to 3,536 shares, worth approximately $4.37 million.
As published in their initiating research note from Wolfe Research on February 15, 2024, Insmed Inc [INSM] has been an Outperform and the price target has been revised to $42. Analysts at Wells Fargo started covering the stock with ‘”an Overweight”‘ outlook in a report released in early December. Earlier on July 26, 2023, Guggenheim initiated its rating. Their recommendation was “a Buy” for INSM stock.
Analyzing INSM Stock Performance
During the last five days, there has been a surge of approximately 2.57%. Over the course of the year, Insmed Inc shares have dropped approximately -8.39%. Shares of the company reached a 52-week high of $31.14 on 01/02/24 and a 52-week low of $25.06 on 02/22/24. A 50-day SMA is recorded $27.69, while a 200-day SMA reached $25.52. Nevertheless, trading volume fell to 1.15 million shares from 0.98 million shares the previous day.
Support And Resistance Levels for Insmed Inc (INSM)
According to the 24-hour chart, there is a support level at 27.62, which, if violated, would cause prices to drop to 26.86. In the upper region, resistance lies at 28.79. The next price resistance is at 29.20. RSI (Relative Strength Index) is 58.47 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.93, which suggests the price will decrease in the coming days. Percent R is at 1.54%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
Is Insmed Inc subject to short interest?
Stocks of Insmed Inc saw a sharp rise in short interest on Mar 28, 2024 jumping by 0.47 million shares to 9.04 million. Data from Yahoo Finance shows that the short interest on Feb 29, 2024 was 8.57 million shares. A jump of 5.2% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 6.31 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.31.
