Insmed Incorporated (NASDAQ:INSM) COO Sells $3,378,264.75 in Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 42,975 shares of the company’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $78.61, for a total transaction of $3,378,264.75. Following the completion of the transaction, the chief operating officer now owns 146,082 shares of the company’s stock, valued at $11,483,506.02. This represents a 22.73 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Thursday, February 6th, Roger Adsett sold 45,605 shares of Insmed stock. The shares were sold at an average price of $80.90, for a total value of $3,689,444.50.
• On Tuesday, January 14th, Roger Adsett sold 1,457 shares of Insmed stock. The stock was sold at an average price of $68.72, for a total value of $100,125.04.
• On Friday, January 10th, Roger Adsett sold 4,902 shares of Insmed stock. The shares were sold at an average price of $63.68, for a total value of $312,159.36.
• On Tuesday, January 7th, Roger Adsett sold 2,444 shares of Insmed stock. The shares were sold at an average price of $65.95, for a total transaction of $161,181.80.

Insmed Price Performance

Insmed stock traded down $0.29 during mid-day trading on Wednesday, reaching $79.60. The company had a trading volume of 1,389,754 shares, compared to its average volume of 1,907,916. The stock’s 50-day simple moving average is $73.15 and its 200-day simple moving average is $73.16. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $82.04. 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 company has a market capitalization of $14.24 billion, a P/E ratio of -14.34 and a beta of 1.11.

Wall Street Analyst Weigh In

INSM has been the subject of several recent research reports. Guggenheim increased their target price on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday, February 7th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. Stifel Nicolaus increased their price target on Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday. Finally, Morgan Stanley lifted their price objective on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.60.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Jennison Associates LLC increased its position in shares of Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after buying an additional 4,560 shares in the last quarter. Capital CS Group LLC acquired a new stake in Insmed in the 4th quarter valued at about $586,000. Orion Portfolio Solutions LLC increased its holdings in Insmed by 48.5% during the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after acquiring an additional 9,170 shares in the last quarter. Ally Bridge Group NY LLC raised its position in Insmed by 16.9% during the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after acquiring an additional 21,833 shares during the last quarter. Finally, Vestal Point Capital LP lifted its holdings in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter.

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.