Insmed (NASDAQ:INSM) CEO Sells $777,763.35 in Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 7,605 shares of Insmed stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $777,763.35. Following the sale, the chief executive officer directly owned 265,432 shares in the company, valued at $27,145,730.64. The trade was a 2.79% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, April 16th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03.
• On Monday, April 6th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $163.22, for a total value of $1,746,290.78.
• On Thursday, March 19th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48.

Insmed Price Performance

INSM stock traded down $10.70 during trading on Friday, hitting $94.22. The company had a trading volume of 7,955,715 shares, compared to its average volume of 2,804,548. The company has a fifty day moving average price of $131.53 and a two-hundred day moving average price of $155.38. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The company has a market cap of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a fifty-two week low of $70.57 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($1.42) EPS. Equities research analysts expect that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Wells Fargo & Company decreased their price target on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a research note on Friday, May 8th. Roth Mkm reaffirmed a “buy” rating and issued a $212.00 price target on shares of Insmed in a research note on Friday, April 17th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and boosted their price target for the company from $166.00 to $212.00 in a research note on Monday, March 30th. Raymond James Financial began coverage on Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective for the company. Finally, Royal Bank Of Canada cut their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average price target of $210.50.

Institutional Investors Weigh In On Insmed

Institutional investors and hedge funds have recently made changes to their positions in the company. Artisan Partners Limited Partnership raised its position in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after acquiring an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC bought a new stake in Insmed in the third quarter valued at about $13,681,000. iA Global Asset Management Inc. increased its holdings in Insmed by 15,973.5% in the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock valued at $4,644,000 after purchasing an additional 26,516 shares during the last quarter. Nordea Investment Management AB bought a new stake in Insmed in the fourth quarter valued at about $3,492,000. Finally, Essex Investment Management Co. LLC increased its holdings in Insmed by 31.2% in the third quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company’s stock valued at $12,540,000 after purchasing an additional 20,732 shares during the last quarter.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.