Insider Selling: Insmed Incorporated (NASDAQ:INSM) CEO Sells 8,218 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 8,218 shares of the business’s stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $66.02, for a total value of $542,552.36. Following the completion of the sale, the chief executive officer now owns 376,742 shares in the company, valued at $24,872,506.84. The trade was a 2.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through 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 shares were sold at an average price of $63.36, for a total value of $188,686.08.
• 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 Price Performance

Shares of INSM traded down $0.47 during trading hours on Friday, reaching $65.25. 3,087,759 shares of the stock traded hands, compared to its average volume of 1,881,810. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company’s 50-day moving average price is $71.29 and its two-hundred day moving average price is $72.44. The company has a market cap of $11.67 billion, a P/E ratio of -11.76 and a beta of 1.12.

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

Institutional Investors Weigh In On Insmed

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC boosted its position in 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 in the last quarter. Darwin Global Management Ltd. purchased a new position in shares of Insmed in the 2nd quarter valued at about $237,076,000. Principal Financial Group Inc. boosted its holdings in Insmed by 12.9% in 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 in the last quarter. Clearbridge Investments LLC increased its position in Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after buying an additional 714,539 shares during the period. Finally, Vestal Point Capital LP lifted its position in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares during the period.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on INSM shares. Bank of America raised 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. JPMorgan Chase & Co. increased their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial restated a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.