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 stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $66.02, for a total value of $542,552.36. Following the sale, the chief executive officer now owns 376,742 shares of the company’s stock, valued at $24,872,506.84. This represents a 2.13 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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 transaction of $188,686.08.
• 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 transaction 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 Stock Performance

NASDAQ:INSM traded down $0.47 during midday trading on Friday, reaching $65.25. 3,087,759 shares of the company traded hands, compared to its average volume of 1,881,810. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The company has a fifty day moving average price of $71.29 and a 200 day moving average price of $72.44. The firm has a market capitalization of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12.

Insmed (NASDAQ:INSM) last announced its 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 analysts’ expectations 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 previous year, the company earned ($1.10) EPS. On average, analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have issued reports on the company. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. raised their target price on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America increased their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average price target of $83.67.

Institutional Trading of Insmed

Several large investors have recently added to or reduced their stakes in INSM. Orion Portfolio Solutions LLC boosted its holdings in Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after purchasing an additional 9,170 shares during the period. Ally Bridge Group NY LLC boosted its stake in Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after purchasing an additional 21,833 shares in the last quarter. Vestal Point Capital LP grew its holdings 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 last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Insmed in the third quarter valued at approximately $35,322,000. Finally, Jennison Associates LLC increased its stake in shares of Insmed by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock valued at $56,155,000 after buying an additional 24,973 shares during the period.

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.