InspireMD (NYSE:NSPR) Shares Down 0.2% – Here’s What Happened

Shares of InspireMD, Inc. (NYSE:NSPR) traded down 0.2% during mid-day trading on Tuesday . The stock traded as low as $0.71 and last traded at $0.7175. Approximately 15,164 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 170,852 shares. The stock had previously closed at $0.7190.

Wall Street Analyst Weigh In

NSPR has been the topic of several research analyst reports. Lake Street Capital set a $4.00 price objective on InspireMD in a research note on Monday, May 4th. Piper Sandler restated an “overweight” rating and issued a $3.00 price target (down from $4.00) on shares of InspireMD in a report on Tuesday, May 5th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $4.50.

InspireMD Stock Performance

The firm’s fifty day simple moving average is $0.85 and its 200 day simple moving average is $1.35. The stock has a market capitalization of $33.26 million, a price-to-earnings ratio of -0.95 and a beta of 0.78.

Insider Activity at InspireMD

In other news, Director Gary S. Roubin bought 90,000 shares of the stock in a transaction on Thursday, May 7th. The stock was purchased at an average price of $1.18 per share, for a total transaction of $106,200.00. Following the acquisition, the director owned 834,478 shares in the company, valued at approximately $984,684.04. This trade represents a 12.09% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Marvin Slosman purchased 21,000 shares of the company’s stock in a transaction on Tuesday, May 12th. The stock was purchased at an average cost of $1.20 per share, for a total transaction of $25,200.00. Following the purchase, the chief executive officer directly owned 3,556,658 shares in the company, valued at approximately $4,267,989.60. This trade represents a 0.59% increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 303,771 shares of company stock valued at $348,697. 34.06% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NSPR. Aberdeen Group plc raised its position in InspireMD by 27.9% in the 4th quarter. Aberdeen Group plc now owns 3,173,364 shares of the company’s stock valued at $5,649,000 after buying an additional 692,247 shares during the last quarter. Ingalls & Snyder LLC boosted its position in InspireMD by 70.8% during the 4th quarter. Ingalls & Snyder LLC now owns 384,300 shares of the company’s stock worth $684,000 after acquiring an additional 159,298 shares during the last quarter. Velan Capital Investment Management LP boosted its position in InspireMD by 137.1% during the 3rd quarter. Velan Capital Investment Management LP now owns 2,143,698 shares of the company’s stock worth $5,166,000 after acquiring an additional 1,239,669 shares during the last quarter. Millennium Management LLC grew its stake in shares of InspireMD by 766.3% during the 3rd quarter. Millennium Management LLC now owns 147,423 shares of the company’s stock worth $355,000 after acquiring an additional 130,405 shares in the last quarter. Finally, Citadel Advisors LLC grew its stake in shares of InspireMD by 45.0% during the 3rd quarter. Citadel Advisors LLC now owns 37,954 shares of the company’s stock worth $91,000 after acquiring an additional 11,778 shares in the last quarter. 44.78% of the stock is owned by institutional investors and hedge funds.

InspireMD Company Profile

InspireMD, Inc is a medical device company focused on developing next-generation stent technologies for cardiovascular and neurovascular interventions. The company’s core innovation lies in its MicroNet® mesh platform, a proprietary nanostructured covering designed to prevent embolic events during stent implantation. By integrating this fine mesh into traditional stent architectures, InspireMD aims to enhance safety and efficacy in the treatment of carotid artery disease and other vascular pathologies.

The company’s flagship offering, the CGuard® Embolic Prevention System (EPS), has received CE Mark approval and is commercially available in multiple international markets.