Stock Traders Purchase High Volume of Call Options on Insmed (NASDAQ:INSM)

Insmed, Inc. (NASDAQ:INSM) was the target of unusually large options trading on Tuesday. Traders acquired 8,177 call options on the stock. This represents an increase of 206% compared to the average daily volume of 2,676 call options.

Insider Buying and Selling

In other news, COO Roger Adsett sold 239,850 shares of Insmed stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the sale, the chief operating officer owned 98,744 shares in the company, valued at $13,159,612.88. This trade represents a 70.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director David Brennan sold 25,000 shares of Insmed stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $124.00, for a total transaction of $3,100,000.00. Following the sale, the director owned 39,238 shares in the company, valued at approximately $4,865,512. The trade was a 38.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 2.10% of the company’s stock.

Institutional Trading of Insmed

Hedge funds have recently made changes to their positions in the business. Reflection Asset Management bought a new stake in shares of Insmed during the fourth quarter worth $30,000. CX Institutional purchased a new stake in shares of Insmed during the third quarter valued at $46,000. Harbor Investment Advisory LLC bought a new position in shares of Insmed in the second quarter worth about $52,000. Whittier Trust Co. of Nevada Inc. grew its holdings in shares of Insmed by 86.6% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 444 shares of the biopharmaceutical company’s stock worth $73,000 after purchasing an additional 206 shares during the last quarter. Finally, Versant Capital Management Inc grew its holdings in shares of Insmed by 118.9% in the third quarter. Versant Capital Management Inc now owns 648 shares of the biopharmaceutical company’s stock worth $74,000 after purchasing an additional 352 shares during the last quarter.

Analyst Upgrades and Downgrades

Several analysts have commented on INSM shares. The Goldman Sachs Group started coverage on shares of Insmed in a research note on Thursday, September 24th. They issued a “buy” rating and a $188.00 price target on the stock. JPMorgan Chase & Co. cut their price objective on Insmed from $179.00 to $175.00 and set an “overweight” rating for the company in a research report on Monday, August 10th. Evercore reaffirmed an “outperform” rating and issued a $170.00 target price on shares of Insmed in a report on Friday, August 7th. BMO Capital Markets reiterated an “outperform” rating on shares of Insmed in a research report on Tuesday, October 6th. Finally, Barclays dropped their price target on Insmed from $237.00 to $207.00 and set an “overweight” rating for the company in a research note on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $200.30.

Insmed Price Performance

INSM traded down $0.57 during trading hours on Tuesday, hitting $97.98. The company’s stock had a trading volume of 774,479 shares, compared to its average volume of 2,923,074. The business’s 50-day moving average price is $120.20 and its 200-day moving average price is $119.46. Insmed has a 12 month low of $90.39 and a 12 month high of $212.75. The stock has a market cap of $21.40 billion, a price-to-earnings ratio of -23.88 and a beta of 0.83. The company has a current ratio of 3.72, a quick ratio of 3.40 and a debt-to-equity ratio of 0.74.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.67) by $0.61. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The business had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. During the same quarter last year, the business earned ($1.70) earnings per share. Insmed’s quarterly revenue was up 296.1% compared to the same quarter last year. Sell-side analysts expect that Insmed will post -1.84 earnings per share for the current fiscal year.

About Insmed

Insmed Incorporated is a global biopharmaceutical company focused on developing and commercializing therapies for patients with serious and rare diseases. The company’s research and development activities center on pulmonary and inflammatory conditions, with an emphasis on diseases that have limited treatment options.

Insmed’s principal commercial product is ARIKAYCE liposomal, an inhaled formulation of amikacin used with a combination antibacterial regimen to treat refractory Mycobacterium avium complex lung disease in certain adult patients.