Insmed Incorporated (NASDAQ:INSM) CEO William Lewis Sells 2,978 Shares

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the sale, the chief executive officer now owns 392,589 shares of the company’s stock, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, January 7th, William Lewis sold 8,218 shares of Insmed stock. The stock was sold at an average price of $66.02, for a total transaction of $542,552.36.
• On Thursday, January 2nd, William Lewis sold 18,750 shares of Insmed stock. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00.
• On Thursday, December 19th, William Lewis sold 18,750 shares of Insmed stock. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50.

Insmed Stock Performance

Shares of INSM opened at $65.25 on Friday. The firm has a market capitalization of $11.67 billion, a PE ratio of -11.76 and a beta of 1.12. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm has a 50-day moving average price of $71.23 and a 200 day moving average price of $72.42. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same period in the previous year, the business earned ($1.10) EPS. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on INSM. JPMorgan Chase & Co. increased their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in shares of Insmed in the third quarter valued at $30,000. GAMMA Investing LLC grew its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares during the period. Exchange Traded Concepts LLC raised its position in Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares in the last quarter. Blue Trust Inc. lifted its holdings in Insmed by 2,348.8% in the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 1,879 shares during the last quarter. Finally, JCIC Asset Management Inc. bought a new position in shares of Insmed during the 3rd quarter valued at about $133,000.

Insmed Company Profile

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.