William Lewis Sells 18,750 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

• On Thursday, December 19th, William Lewis sold 18,750 shares of Insmed stock. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50.

Insmed Trading Down 0.1 %

NASDAQ:INSM opened at $69.86 on Friday. The stock has a fifty day simple moving average of $71.62 and a 200 day simple moving average of $72.44. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $12.50 billion, a price-to-earnings ratio of -12.59 and a beta of 1.12. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53.

Insmed (NASDAQ:INSM) last released its 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 firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. Insmed’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.10) earnings per share. Sell-side analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have commented on INSM. HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Truist Financial restated 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. JPMorgan Chase & Co. boosted their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Institutional Trading of Insmed

Hedge funds have recently modified their holdings of the business. Geode Capital Management LLC raised 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 valued at $278,432,000 after buying an additional 172,664 shares during the period. Darwin Global Management Ltd. purchased a new position in Insmed during the 2nd quarter valued at about $237,076,000. Principal Financial Group Inc. lifted its position in shares of Insmed by 12.9% in the third quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in shares of 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 purchasing an additional 714,539 shares during the period. Finally, 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 purchasing an additional 850,000 shares in 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.