Insmed Incorporated (NASDAQ:INSM) CEO Sells $188,686.08 in Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 2,978 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was 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 of the company’s stock, valued at approximately $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

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

• 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 transaction of $1,310,812.50.

Insmed Trading Down 0.7 %

Shares of NASDAQ INSM opened at $65.25 on Friday. 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 business has a 50 day simple moving average of $71.23 and a 200 day simple moving average of $72.42. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS 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. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned ($1.10) earnings per share. On average, research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

Institutional Trading of Insmed

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

About Insmed

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.