Insider Buying: InspireMD (NYSE:NSPR) Director Acquires 73,255 Shares of Stock

Key Points

• Director buying: InspireMD director Scott Ward purchased 73,255 shares at an average price of $1.15, a transaction worth about $84,243. After the buy, his holdings rose to 237,096 shares, a 44.71% increase.
• Stock performance: InspireMD shares were down 0.9% to $1.15 in Friday trading, near the lower end of their 12-month range of $1.02 to $2.93. The company has a market cap of about $53.93 million.
• Analyst sentiment: Wall Street currently has a consensus Buy rating on NSPR, with a consensus price target of $4.50. Recent targets from analysts range from $3.00 to $6.00 per share.

InspireMD, Inc. (NYSE:NSPR - Get Free Report) Director Scott Ward bought 73,255 shares of InspireMD stock in a transaction dated Thursday, May 7th. The shares were acquired at an average cost of $1.15 per share, for a total transaction of $84,243.25. Following the completion of the purchase, the director directly owned 237,096 shares of the company's stock, valued at approximately $272,660.40. This trade represents a 44.71% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

InspireMD Stock Down 0.9%

Shares of NYSE:NSPR traded down $0.01 during midday trading on Friday, reaching $1.15. The company's stock had a trading volume of 261,553 shares, compared to its average volume of 174,764. InspireMD, Inc. has a 12-month low of $1.02 and a 12-month high of $2.93. The firm has a market capitalization of $53.93 million, a P/E ratio of -1.53 and a beta of 0.82. The firm has a 50 day moving average of $1.51 and a 200-day moving average of $1.75.

Hedge Funds Weigh In On InspireMD

A number of institutional investors have recently modified their holdings of NSPR. Aberdeen Group plc purchased a new position in InspireMD during the 3rd quarter worth $5,979,000. Rosalind Advisors Inc. grew its position in shares of InspireMD by 70.6% during the 3rd quarter. Rosalind Advisors Inc. now owns 3,905,743 shares of the company's stock worth $9,413,000 after buying an additional 1,616,644 shares in the last quarter. Velan Capital Investment Management LP increased its stake in shares of InspireMD by 137.1% during the third quarter. Velan Capital Investment Management LP now owns 2,143,698 shares of the company's stock valued at $5,166,000 after buying an additional 1,239,669 shares during the period. Parkman Healthcare Partners LLC raised its holdings in shares of InspireMD by 97.6% in the third quarter. Parkman Healthcare Partners LLC now owns 2,440,633 shares of the company's stock valued at $5,882,000 after acquiring an additional 1,205,328 shares in the last quarter. Finally, Nantahala Capital Management LLC lifted its stake in InspireMD by 45.7% in the third quarter. Nantahala Capital Management LLC now owns 3,376,484 shares of the company's stock worth $8,137,000 after acquiring an additional 1,058,467 shares during the period. 44.78% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently commented on NSPR. Loop Capital set a $5.00 price objective on InspireMD in a research report on Tuesday, February 24th. Maxim Group initiated coverage on shares of InspireMD in a research report on Monday, February 2nd. They issued a "buy" rating and a $6.00 price target on the stock. Piper Sandler reiterated an "overweight" rating and set a $3.00 price target (down from $4.00) on shares of InspireMD in a research note on Tuesday. Finally, Lake Street Capital set a $4.00 price objective on shares of InspireMD in a research report on Monday. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has a consensus rating of "Buy" and a consensus price target of $4.50.

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.

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