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 $1,787,524 were purchased by Lewis William on Dec 19 ’24. At $69.88 per share, Lewis William acquired 25,580 shares.
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Also, Lewis William sold 18,750 shares, netting a total of over 1,368,243 in proceeds. Following the sale of shares at $72.97 each, the insider now holds 384,960 shares.
Before that, Lewis William had sold 6,830 shares from its account. In a trade valued at $498,463, the Chair and CEO traded Insmed Inc shares for $72.98 each. Upon closing the transaction, the insider’s holdings decreased to 6,830 shares, worth approximately $16.24 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 drop of approximately -3.66%. Over the course of the year, Insmed Inc shares have jumped approximately 123.98%. 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 $72.36, while a 200-day SMA reached $58.58. Nevertheless, trading volume fell to 1.76 million shares from 2.25 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 68.66, which, if violated, would cause prices to drop to 67.91. In the upper region, resistance lies at 70.62. The next price resistance is at 71.83. RSI (Relative Strength Index) is 41.58 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -1.83, which suggests the price will decrease in the coming days. Percent R is at 92.72%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
