Roger Adsett Sells 2,370 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) COO Roger Adsett sold 2,370 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares of the company’s stock, valued at approximately $10,084,128.81. This represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roger Adsett also recently made the following trade(s):

• On Wednesday, April 1st, Roger Adsett sold 88,060 shares of Insmed stock. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80.

Insmed Stock Performance

Shares of INSM stock traded down $10.70 during mid-day trading on Friday, reaching $94.22. 7,955,757 shares of the company’s stock traded hands, compared to its average volume of 2,804,548. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a market capitalization of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 12 month low of $70.57 and a 12 month high of $212.75. The firm has a 50 day moving average price of $131.53 and a two-hundred day moving average price of $155.38.

Insmed (NASDAQ:INSM) last released its earnings results 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 company had revenue of $305.96 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.42) earnings per share. On average, research analysts forecast that Insmed, Inc. will post -2.56 EPS for the current year.

Institutional Inflows and Outflows

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

Analyst Ratings Changes

A number of equities research analysts have commented on INSM shares. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Jefferies Financial Group began coverage on shares of Insmed in a research report on Monday, March 16th. They issued a “buy” rating and a $228.00 price target for the company. Roth Mkm restated a “buy” rating and set a $212.00 price objective on shares of Insmed in a research report on Friday, April 17th. Stifel Nicolaus lifted their target price on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research note on Tuesday, March 24th. Finally, Truist Financial cut their price target on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $210.50.

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.