Insmed Incorporated (NASDAQ:INSM) COO Sells $3,689,444.50 in Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 45,605 shares of the company’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $3,689,444.50. Following the completion of the sale, the chief operating officer now directly owns 189,157 shares in the company, valued at approximately $15,302,801.30. The trade was a 19.43 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Roger Adsett also recently made the following trade(s):

• On Tuesday, January 14th, Roger Adsett sold 1,457 shares of Insmed stock. The shares were sold at an average price of $68.72, for a total transaction of $100,125.04.
• On Friday, January 10th, Roger Adsett sold 4,902 shares of Insmed stock. The stock was sold at an average price of $63.68, for a total transaction of $312,159.36.
• On Tuesday, January 7th, Roger Adsett sold 2,444 shares of Insmed stock. The stock was sold at an average price of $65.95, for a total transaction of $161,181.80.

Insmed Stock Performance

Shares of INSM opened at $79.95 on Friday. Insmed Incorporated has a one year low of $21.92 and a one year high of $82.04. The business has a fifty day moving average of $72.79 and a 200 day moving average of $73.10. 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 firm has a market capitalization of $14.30 billion, a P/E ratio of -14.41 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on INSM. Guggenheim boosted their price target on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research report on Friday. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Morgan Stanley raised their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Institutional Investors Weigh In On Insmed

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Vestal Point Capital LP grew its position in Insmed by 113.3% during 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 buying an additional 850,000 shares during the period. TimesSquare Capital Management LLC purchased a new position in shares of Insmed during the 3rd quarter worth $35,322,000. Assenagon Asset Management S.A. grew its position in shares of Insmed by 119.2% during the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock valued at $62,587,000 after acquiring an additional 466,306 shares during the period. Victory Capital Management Inc. increased its stake in shares of Insmed by 209.9% in the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock worth $33,285,000 after purchasing an additional 308,819 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new position in Insmed in the 3rd quarter worth $18,377,000.

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.