Nantahala Capital Management LLC Purchases 643,452 Shares of InspireMD, Inc. $NSPR

Key Points

• Nantahala Capital Management LLC increased its stake in InspireMD, Inc. by 38.4%, now owning 2,318,017 shares valued at approximately $6.24 million.
• Insider transactions indicate that directors Paul Stuka and Thomas J. Kester both purchased shares at an average price of $2.42, increasing their ownership in the company.
• InspireMD has seen a mixed response from analysts, with an average rating of "Buy" and a revised price target of $4.00 from Piper Sandler, down from $4.50.

Nantahala Capital Management LLC increased its position in InspireMD, Inc. (NYSE:NSPR - Free Report) by 38.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,318,017 shares of the company's stock after purchasing an additional 643,452 shares during the period. Nantahala Capital Management LLC owned approximately 7.57% of InspireMD worth $6,235,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Uniting Wealth Partners LLC bought a new position in InspireMD in the 1st quarter worth about $27,000. Brown Advisory Inc. purchased a new position in InspireMD in the 1st quarter worth about $27,000. Renaissance Technologies LLC purchased a new position in InspireMD in the 4th quarter worth about $27,000. XTX Topco Ltd purchased a new position in InspireMD in the 1st quarter worth about $38,000. Finally, Courier Capital LLC purchased a new position in InspireMD in the 1st quarter worth about $81,000. Institutional investors own 44.78% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Piper Sandler decreased their target price on InspireMD from $4.50 to $4.00 and set an "overweight" rating for the company in a research report on Monday, May 12th. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat, InspireMD has an average rating of "Buy" and a consensus price target of $4.50.

Insider Transactions at InspireMD

In other InspireMD news, Director Paul Stuka acquired 20,661 shares of the stock in a transaction dated Wednesday, July 30th. The shares were purchased at an average price of $2.42 per share, for a total transaction of $49,999.62. Following the purchase, the director directly owned 444,195 shares of the company's stock, valued at approximately $1,074,951.90. This trade represents a 4.88% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Gary S. Roubin acquired 41,322 shares of the stock in a transaction dated Wednesday, July 30th. The stock was acquired at an average price of $2.42 per share, for a total transaction of $99,999.24. Following the purchase, the director directly owned 608,425 shares in the company, valued at approximately $1,472,388.50. This trade represents a 7.29% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have acquired 103,304 shares of company stock worth $249,996 in the last quarter. Company insiders own 34.06% of the company's stock.

InspireMD Price Performance

Shares of NYSE:NSPR traded down $0.02 during trading on Friday, hitting $2.42. The company's stock had a trading volume of 69,450 shares, compared to its average volume of 101,872. The company has a 50-day moving average of $2.43 and a 200-day moving average of $2.56. InspireMD, Inc. has a 12 month low of $1.99 and a 12 month high of $3.80. The firm has a market cap of $100.96 million, a price-to-earnings ratio of -3.23 and a beta of 0.68.

About InspireMD

InspireMD, Inc, a medical device company, focuses on the development and commercialization of MicroNet stent platform technology for the treatment of vascular and coronary diseases in Europe, Latin America, the Middle East, and Asia Pacific. The company offers CGuard carotid embolic prevention system (EPS) for use in carotid artery applications; CGuard Prime Stent System, a mesh-covered self-expanding carotid stent; and SwitchGuard NPS, a non-invasive transcarotid artery revascularization device; as well as treating acute stroke with tandem lesions.