The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Insmed Inc shares valued at $2,072,223 were sold by Smith Michael Alexander on Sep 13 ’24. At $74.35 per share, Smith Michael Alexander sold 27,871 shares. The insider’s holdings dropped to 67,856 shares worth approximately $5.15 million following the completion of this transaction.
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Also, Flammer Martina M.D. sold 26,969 shares, netting a total of over 2,019,978 in proceeds. Following the sale of shares at $74.90 each, the insider now holds 106,134 shares.
Before that, Flammer Martina M.D. had sold 13,436 shares from its account. In a trade valued at $1,006,625, the Chief Medical Officer traded Insmed Inc shares for $74.92 each. Upon closing the transaction, the insider’s holdings decreased to 13,436 shares, worth approximately $8.05 million.
As published in their initiating research note from Truist on April 23, 2024, Insmed Inc [INSM] has been a Buy and the price target has been revised to $48. Analysts at Wolfe Research started covering the stock with ‘”an Outperform”‘ outlook in a report released in mid February. As of December 08, 2023, Wells Fargo has initiated its “an Overweight” rating for INSM.
Analyzing INSM Stock Performance
During the last five days, there has been a surge of approximately 4.42%. Over the course of the year, Insmed Inc shares have jumped approximately 144.85%. Shares of the company reached a 52-week high of $80.53 on 08/22/24 and a 52-week low of $21.92 on 05/24/24. A 50-day SMA is recorded $72.16, while a 200-day SMA reached $55.22. Nevertheless, trading volume fell to 0.98 million shares from 1.69 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 74.90, which, if violated, would cause prices to drop to 73.91. In the upper region, resistance lies at 76.76. The next price resistance is at 77.63. RSI (Relative Strength Index) is 59.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 3.13, which suggests the price will increase in the coming days. Percent R is at 6.53%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.
