Insider Selling: Insmed Incorporated (NASDAQ:INSM) CEO Sells 2,978 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 2,978 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the sale, the chief executive officer now directly owns 392,589 shares in the company, valued at $24,874,439.04. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link.

William Lewis also recently made the following trade(s):

• On Tuesday, January 7th, William Lewis sold 8,218 shares of Insmed stock. The stock was sold at an average price of $66.02, for a total value of $542,552.36.
• On Thursday, January 2nd, William Lewis sold 18,750 shares of Insmed stock. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00.
• On Thursday, December 19th, William Lewis sold 18,750 shares of Insmed stock. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50.

Insmed Stock Down 0.7 %

Shares of NASDAQ:INSM opened at $65.25 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. The company has a 50 day moving average of $71.23 and a 200-day moving average of $72.44. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.10) earnings per share. On average, sell-side analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in INSM. Geode Capital Management LLC raised its position in shares of Insmed by 4.7% during the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after purchasing an additional 172,664 shares during the period. Darwin Global Management Ltd. bought a new stake in Insmed in the 2nd quarter valued at approximately $237,076,000. Principal Financial Group Inc. boosted its position in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after acquiring an additional 214,130 shares during the last quarter. Clearbridge Investments LLC raised its holdings in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the last quarter. Finally, Vestal Point Capital LP grew its position in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on INSM shares. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Finally, Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.