Michael Alexander Smith Sells 1,879 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) insider Michael Alexander Smith sold 1,879 shares of the business’s stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of the sale, the insider now directly owns 67,718 shares of the company’s stock, valued at $4,977,273. This represents a 2.70% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

Michael Alexander Smith also recently made the following trade(s):

• On Tuesday, June 3rd, Michael Alexander Smith sold 1,448 shares of Insmed stock. The stock was sold at an average price of $71.50, for a total transaction of $103,532.00.
• On Wednesday, May 14th, Michael Alexander Smith sold 409 shares of Insmed stock. The shares were sold at an average price of $65.61, for a total transaction of $26,834.49.
• On Tuesday, May 13th, Michael Alexander Smith sold 4,407 shares of Insmed stock. The shares were sold at an average price of $67.81, for a total transaction of $298,838.67.

Insmed Price Performance

Shares of NASDAQ INSM opened at $73.62 on Friday. Insmed Incorporated has a 1 year low of $56.03 and a 1 year high of $84.91. 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’s 50-day moving average is $69.28 and its 200 day moving average is $73.04. The stock has a market capitalization of $13.41 billion, a P/E ratio of -13.17 and a beta of 0.80.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million for the quarter, compared to analysts’ expectations of $91.63 million. During the same quarter in the prior year, the firm earned ($1.06) EPS. Insmed’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Monday, May 12th. Jefferies Financial Group assumed coverage on shares of Insmed in a research note on Tuesday, May 13th. They set a “buy” rating and a $105.00 price objective for the company. Truist Financial upped their price objective on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Royal Bank of Canada reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Insmed in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus lowered their price objective on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $97.79.

Institutional Investors Weigh In On Insmed

A number of hedge funds and other institutional investors have recently bought and sold shares of INSM. Darwin Global Management Ltd. grew its holdings in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock worth $894,796,000 after purchasing an additional 2,463,261 shares during the period. Norges Bank purchased a new stake in Insmed in the fourth quarter worth about $126,606,000. Adage Capital Partners GP L.L.C. grew its holdings in Insmed by 109.2% in the first quarter. Adage Capital Partners GP L.L.C. now owns 3,446,944 shares of the biopharmaceutical company’s stock worth $262,967,000 after purchasing an additional 1,799,382 shares during the period. Nuveen LLC purchased a new stake in Insmed in the first quarter worth about $88,351,000. Finally, Vanguard Group Inc. grew its holdings in Insmed by 6.3% in the fourth quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after purchasing an additional 1,075,796 shares during the period.

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.