Roger Adsett Sells 4,902 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 4,902 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.68, for a total value of $312,159.36. Following the completion of the sale, the chief operating officer now owns 147,539 shares in the company, valued at approximately $9,395,283.52. This represents a 3.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

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

• On Tuesday, January 7th, Roger Adsett sold 2,444 shares of Insmed stock. The stock was sold at an average price of $65.95, for a total value of $161,181.80.

Insmed Stock Down 0.7 %

Shares of NASDAQ:INSM opened at $65.25 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock has a market cap of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. The company has a 50 day moving average of $71.23 and a 200-day moving average of $72.44. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53.

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

Hedge Funds Weigh In On Insmed

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

Wall Street Analysts Forecast Growth

Several research firms have issued reports on INSM. Truist Financial reiterated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. increased their target price on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Bank of America boosted their price target on shares of 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 reiterated a “buy” rating and issued a $90.00 target price 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 assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

About Insmed

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.