Insmed Incorporated (NASDAQ:INSM) COO Sells $161,181.80 in Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 2,444 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.95, for a total transaction of $161,181.80. Following the completion of the sale, the chief operating officer now directly owns 147,666 shares in the company, valued at approximately $9,738,572.70. This represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link.

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

• On Friday, January 10th, Roger Adsett sold 4,902 shares of Insmed stock. The stock was sold at an average price of $63.68, for a total transaction of $312,159.36.

Insmed Stock Performance

NASDAQ:INSM opened at $65.25 on Friday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The firm’s fifty day simple moving average is $71.23 and its 200-day simple moving average is $72.44. The stock has a market cap of $11.67 billion, a PE ratio of -11.76 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.10) earnings per share. Analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On Insmed

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

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.