Insmed Incorporated (NASDAQ:INSM) CEO William Lewis Sells 31,805 Shares

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 31,805 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $70.18, for a total value of $2,232,074.90. Following the completion of the sale, the chief executive officer now owns 379,534 shares of the company’s stock, valued at $26,635,696.12. This trade represents a 7.73 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

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

• On Friday, January 10th, William Lewis sold 2,978 shares of Insmed stock. The shares were sold at an average price of $63.36, for a total value of $188,686.08.
• 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 value 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 value of $1,309,500.00.
• On Thursday, December 19th, William Lewis sold 18,750 shares of Insmed stock. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50.

Insmed Price Performance

Shares of INSM opened at $72.51 on Friday. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The stock has a market cap of $12.97 billion, a PE ratio of -13.06 and a beta of 1.12. The firm has a 50-day simple moving average of $71.18 and a two-hundred day simple moving average of $72.57. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share 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 analyst estimates of $93.36 million. During the same period in the previous year, the company posted ($1.10) EPS. Insmed’s revenue was up 18.1% on a year-over-year basis. As a group, analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the business. CIBC Asset Management Inc boosted its stake in shares of Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after purchasing an additional 149 shares during the period. Commerce Bank boosted its stake in shares of Insmed by 2.4% in the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 163 shares during the period. Nisa Investment Advisors LLC boosted its stake in shares of Insmed by 5.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 183 shares during the period. GAMMA Investing LLC boosted its stake in shares of 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 during the period. Finally, Atomi Financial Group Inc. boosted its stake in shares of Insmed by 1.4% in the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after purchasing an additional 314 shares during the period.

Analysts Set New Price Targets

Several analysts recently commented on the company. JPMorgan Chase & Co. boosted their price target on 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 objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Finally, Truist Financial reissued a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus 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.