Insmed Incorporated (NASDAQ:INSM) CEO William Lewis Sells 2,978 Shares

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 2,978 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the sale, the chief executive officer now owns 392,589 shares in the company, valued at $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Tuesday, January 7th, William Lewis sold 8,218 shares of Insmed stock. The stock was sold at an average price of $66.02, for a total transaction of $542,552.36.
• On Thursday, January 2nd, William Lewis sold 18,750 shares of Insmed stock. The shares were 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 stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50.

Insmed Trading Down 0.7 %

Insmed stock opened at $65.25 on Monday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. 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 $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. The firm has a 50-day moving average price of $71.23 and a two-hundred day moving average price of $72.46.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of INSM. Orion Portfolio Solutions LLC lifted its holdings in Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 9,170 shares during the period. Ally Bridge Group NY LLC raised its position in shares of Insmed by 16.9% during the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after buying an additional 21,833 shares in the last quarter. Vestal Point Capital LP lifted its stake in shares of Insmed by 113.3% in 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 period. TimesSquare Capital Management LLC bought a new position 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% during the third quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock valued at $56,155,000 after acquiring an additional 24,973 shares during the period.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. 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 research report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average 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.