Insider Selling: Insmed Incorporated (NASDAQ:INSM) COO Sells 4,902 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 4,902 shares of Insmed stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.68, for a total value of $312,159.36. Following the sale, the chief operating officer now owns 147,539 shares of the company’s stock, valued at approximately $9,395,283.52. This trade represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

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

• 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 value of $161,181.80.

Insmed Stock Performance

Shares of NASDAQ INSM traded down $0.47 during trading on Friday, reaching $65.25. 3,087,759 shares of the company traded hands, compared to its average volume of 1,881,810. The stock has a market cap of $11.67 billion, a P/E ratio of -11.76 and a beta of 1.12. The firm’s fifty day simple moving average is $71.29 and its 200 day simple moving average is $72.44. 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 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly 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 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 prior year, the company posted ($1.10) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, research analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Institutional Trading of Insmed

Hedge funds have recently added to or reduced their stakes in the company. Darwin Global Management Ltd. purchased a new stake in shares of Insmed in the second quarter valued at approximately $237,076,000. Vestal Point Capital LP grew its stake in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the period. Clearbridge Investments LLC increased its holdings in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after acquiring an additional 714,539 shares in the last quarter. Farallon Capital Management LLC acquired a new position in Insmed during the second quarter worth $38,056,000. Finally, Fred Alger Management LLC purchased a new position in Insmed during the second quarter valued at $33,404,000.

Analyst Ratings Changes

A number of analysts recently weighed in on INSM shares. Bank of America upped their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. 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.com, the company currently has an average rating of “Moderate Buy” and a consensus target price 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.