Insider Selling: Insmed Incorporated (NASDAQ:INSM) CEO Sells 18,750 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Insmed Stock Up 1.5 %

Shares of NASDAQ INSM opened at $70.44 on Friday. The firm has a fifty day simple moving average of $72.36 and a two-hundred day simple moving average of $71.87. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $12.60 billion, a PE ratio of -12.69 and a beta of 1.10.

Insmed (NASDAQ:INSM) last released 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 for the quarter, compared to the consensus estimate of $93.36 million. Insmed’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.10) earnings per share. Equities analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Finally, Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Monday, September 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 MarketBeat, Insmed has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in Insmed in the third quarter worth $30,000. GAMMA Investing LLC grew its position in shares of 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 buying an additional 224 shares during the period. First Horizon Advisors Inc. increased its stake in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares during the period. Finally, Nisa Investment Advisors LLC boosted its stake in Insmed by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 135 shares in the last quarter.

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.