Insmed Incorporated (NASDAQ:INSM) CEO William Lewis Sells 31,805 Shares

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 31,805 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the transaction, the chief executive officer now directly owns 379,534 shares in the company, valued at approximately $26,635,696.12. This trade represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link.

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

• On Friday, January 10th, William Lewis sold 2,978 shares of Insmed stock. The stock was sold at an average price of $63.36, for a total value of $188,686.08.
• On Tuesday, January 7th, William Lewis sold 8,218 shares of Insmed stock. The shares were 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 stock was 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 value of $1,310,812.50.

Insmed Stock Performance

Shares of INSM stock opened at $72.75 on Friday. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock’s 50-day simple moving average is $71.20 and its 200-day simple moving average is $72.47.

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

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. CIBC Asset Management Inc increased its holdings in shares of Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the period. Commerce Bank increased its stake in shares of Insmed by 2.4% in the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 163 shares in the last quarter. GAMMA Investing LLC raised its holdings in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period. Atomi Financial Group Inc. grew its holdings in Insmed by 1.4% in the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after purchasing an additional 314 shares during the period. Finally, V Square Quantitative Management LLC purchased a new position in shares of Insmed during the 3rd quarter valued at approximately $30,000.

Analyst Upgrades and Downgrades

A number of research firms have commented on INSM. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Bank of America lifted their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus 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.