Insmed (NASDAQ:INSM) CEO Sells $2,210,841.36 in Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 21,398 shares of Insmed stock in a transaction on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the sale, the chief executive officer owned 258,917 shares in the company, valued at approximately $26,751,304.44. This trade represents a 7.63% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, William Lewis sold 7,605 shares of Insmed stock. The stock was sold at an average price of $102.27, for a total value of $777,763.35.
• On Thursday, April 16th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $143.97, for a total transaction 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 transaction of $1,746,290.78.

Insmed Price Performance

Shares of NASDAQ INSM opened at $103.38 on Monday. The company has a 50 day simple moving average of $112.90 and a two-hundred day simple moving average of $143.45. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75. The company has a market capitalization of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. Insmed’s revenue was up 229.7% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.42) EPS. Analysts expect that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INSM has been the subject of several analyst reports. Truist Financial reduced their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. Bank of America increased their target price on Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Jefferies Financial Group started coverage on Insmed in a report on Monday, March 16th. They issued a “buy” rating and a $228.00 target price for the company. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and an average price target of $211.86.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. CIBC Private Wealth Group LLC boosted its holdings in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the last quarter. Kingsview Wealth Management LLC raised its stake in Insmed by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 60 shares during the last quarter. Choreo LLC lifted its holdings in shares of Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 65 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $130,000 after buying an additional 69 shares during the period. Finally, ORG Partners LLC boosted its stake in shares of Insmed by 12.7% in the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after buying an additional 74 shares during the last quarter.

About Insmed

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.