Insider Selling: Insmed Incorporated (NASDAQ:INSM) CEO Sells $1,310,812.50 in Stock

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

Insmed Price Performance

NASDAQ:INSM opened at $70.44 on Monday. The company has a 50 day moving average price of $72.36 and a 200-day moving average price of $71.97. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -12.69 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same period in the prior year, the business posted ($1.10) EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities research analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

Institutional Trading of Insmed

Institutional investors have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in shares of Insmed in the third quarter valued at about $30,000. GAMMA Investing LLC increased its stake in Insmed by 71.3% during 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 in the last quarter. First Horizon Advisors Inc. raised its holdings in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Insmed by 522.5% in the third 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 in the last quarter. Finally, Nisa Investment Advisors LLC boosted its stake in shares of Insmed by 8.2% in 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 during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. 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. JPMorgan Chase & Co. increased 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 boosted their price target on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

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.