Insider Selling: Insmed Incorporated (NASDAQ:INSM) CEO Sells 18,750 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Insmed Stock Performance

Shares of INSM traded up $1.03 during mid-day trading on Friday, hitting $70.44. 5,932,421 shares of the company’s stock were exchanged, compared to its average volume of 2,217,081. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The stock’s 50-day simple moving average is $72.44 and its 200-day simple moving average is $71.67. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -12.69 and a beta of 1.10.

Insmed (NASDAQ:INSM) last posted 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 business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.10) EPS. On average, equities research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on INSM shares. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America increased their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. 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, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Insmed in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 287 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Insmed by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 135 shares during 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.