Insmed (NASDAQ:INSM) Shares Down 4% on Insider Selling

Insmed Incorporated (NASDAQ:INSM) dropped 4% during trading on Monday after an insider sold shares in the company. The company traded as low as $78.52 and last traded at $76.78. Approximately 182,250 shares traded hands during trading, a decline of 90% from the average daily volume of 1,889,847 shares. The stock had previously closed at $79.95.

Specifically, CFO Sara Bonstein sold 28,390 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,296,751.00. Following the completion of the transaction, the chief financial officer now directly owns 155,506 shares of the company’s stock, valued at approximately $12,580,435.40. This represents a 15.44 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 79,350 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $6,419,415.00. Following the completion of the sale, the chief executive officer now directly owns 453,894 shares of the company’s stock, valued at $36,720,024.60. This trade represents a 14.88 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In other Insmed news, COO Roger Adsett sold 45,605 shares of the firm’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $3,689,444.50. Following the completion of the sale, the chief operating officer now directly owns 189,157 shares of the company’s stock, valued at $15,302,801.30. This trade represents a 19.43 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink.

Wall Street Analyst Weigh In

INSM has been the subject of a number of recent research reports. Guggenheim raised their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Morgan Stanley raised their target price on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. JPMorgan Chase & Co. raised their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $85.00.

Insmed Stock Down 3.2 %

The firm has a 50 day moving average price of $72.88 and a 200-day moving average price of $73.09. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market cap of $13.85 billion, a PE ratio of -13.88 and a beta of 1.11.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently made changes to their positions in the stock. V Square Quantitative Management LLC purchased a new position in shares of Insmed in the 3rd quarter valued at about $30,000. Steward Partners Investment Advisory LLC raised its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 163 shares in the last quarter. GAMMA Investing LLC raised its position in shares of Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares in the last quarter. Spire Wealth Management acquired a new stake in shares of Insmed during the 4th quarter worth about $47,000. Finally, Exchange Traded Concepts LLC raised its position in shares of Insmed by 522.5% during the 3rd 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.

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.