Insider Selling: Insmed (NASDAQ:INSM) Insider Sells $173,050.92 in Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 1,806 shares of the firm’s stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total transaction of $173,050.92. Following the sale, the insider directly owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael Alexander Smith also recently made the following trade(s):

• On Wednesday, June 3rd, Michael Alexander Smith sold 2,159 shares of Insmed stock. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93.
• On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03.
• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24.

Insmed Stock Up 1.3%

INSM traded up $1.29 during midday trading on Wednesday, hitting $103.44. The company had a trading volume of 3,108,047 shares, compared to its average volume of 3,109,517. Insmed, Inc. has a 52 week low of $90.39 and a 52 week high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The company has a market capitalization of $22.42 billion, a price-to-earnings ratio of -17.99 and a beta of 0.79. The stock’s 50 day moving average price is $115.70 and its 200 day moving average price is $145.52.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.42) earnings per share. On average, research analysts anticipate that Insmed, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on INSM. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. Truist Financial decreased their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Mizuho set a $192.00 price objective on Insmed in a report on Tuesday, June 16th. Guggenheim lowered their target price on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research report on Friday, May 8th. Finally, Leerink Partners increased their target price on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $211.86.

Institutional Investors Weigh In On Insmed

Institutional investors have recently bought and sold shares of the stock. Artisan Partners Limited Partnership lifted 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 valued at $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Atika Capital Management LLC bought a new stake in Insmed in the 3rd quarter worth about $13,681,000. iA Global Asset Management Inc. grew its position in Insmed by 15,973.5% in the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after purchasing an additional 26,516 shares in the last quarter. Monashee Investment Management LLC purchased a new stake in Insmed in the 4th quarter valued at about $8,702,000. Finally, Nordea Investment Management AB purchased a new stake in Insmed in the 4th quarter valued at about $3,492,000.

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.