InspireMD (OTC: NSPR), a medical device company, did a boomerang move and is now back to where it was Friday. After closing at $1.10 Friday, the company’s stock suffered a $0.07 drop at closing time yesterday. The stock opened this morning at $1.05 and topped at $1.12 before closing at $1.10. The company’s stock reached its 52-week high on November 22, 2011, when it closed at $2.49. The stock has seen many rises and falls since then. On February 29, 2012, the stock closed at $2.00 and has not reached that mark since then. In June 11, 2012, the stock bottomed out at $0.65, but has been making some decent climbs since then.
As for volume, InspireMD exceeded its daily average of 80,812 shares, with nearly 309,000 shares traded today. The company reached its 52-week high on June 11, 2012, when just under 439,000 shares were traded. Most trading days for the company have not exceeded the 100,000 mark.
InspireMD, with locations in Germany and Israel, is a medical device company known for its stent system technology, MGuard. The company focuses on technology for patients who suffer from acute myocardial infarctions, or heart attacks. The company’s goal is to create other cardiac and vascular devices and to improve upon the current devices used for stents. The company currently does not have approval from the Food and Drug Administration (FDA) to sell the devices in the United States, but it is in the process of seeking approval. It also has a partnership with Harvard Clinical Research Institute to perform clinical trials.
On June 5, 2012, InspireMD announced that president and co-founder Asher Holzer, Ph.D. was retiring from the company. He will still remain with the company as a director and provider of consulting services for the next six months.
The company is targeting the fastest-growing area of the stent market, while its stock price has dropped in half since reaching its highest point last year. InspireMD has not released any ground-breaking news since the retirement of its president more than a month ago. Once the company gets FDA approval for stent use in the United States, things may continue to move in the right direction.
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