Insmed Incorporated (NASDAQ:INSM) CEO William Lewis Sells 31,805 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 31,805 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the sale, the chief executive officer now directly owns 379,534 shares in the company, valued at $26,635,696.12. This represents a 7.73 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at 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 stock was sold at an average price of $63.36, for a total value of $188,686.08.
• 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 value of $1,310,812.50.

Insmed Trading Up 3.6 %

NASDAQ INSM traded up $2.55 during trading on Thursday, reaching $72.75. 2,264,024 shares of the stock traded hands, compared to its average volume of 2,139,833. The stock’s 50-day moving average price is $71.18 and its 200 day moving average price is $72.47. 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 cap of $13.01 billion, a price-to-earnings ratio of -13.11 and a beta of 1.12. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) 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 analyst estimates of $93.36 million. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.10) EPS. Analysts predict that Insmed Incorporated will post -5.44 EPS for the current year.

Analyst Ratings Changes

A number of equities analysts have weighed in on the stock. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial reaffirmed 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. Bank of America lifted their target price on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research note 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 company. According to MarketBeat, Insmed has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Institutional Investors Weigh In On Insmed

A number of hedge funds have recently modified their holdings of the business. Darwin Global Management Ltd. bought a new stake in Insmed during the 2nd quarter worth approximately $237,076,000. Vestal Point Capital LP increased its position in shares of Insmed by 113.3% during the third 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 in the last quarter. Clearbridge Investments LLC raised 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 acquiring an additional 714,539 shares during the period. Farallon Capital Management LLC bought a new stake in Insmed in the 2nd quarter valued at $38,056,000. Finally, Fred Alger Management LLC acquired a new position in Insmed in the 2nd quarter worth $33,404,000.

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.