Michael Alexander Smith Sells 6,149 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 6,149 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total value of $666,982.03. Following the transaction, the insider directly owned 41,613 shares of the company’s stock, valued at $4,513,762.11. The trade was a 12.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24.

Insmed Stock Down 3.0%

Shares of INSM traded down $3.29 during midday trading on Friday, hitting $106.24. The company had a trading volume of 2,432,260 shares, compared to its average volume of 2,749,068. The company’s 50-day simple moving average is $138.55 and its 200-day simple moving average is $161.25. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The firm has a market capitalization of $23.03 billion, a P/E ratio of -18.48 and a beta of 0.89. Insmed, Inc. has a 1 year low of $65.56 and a 1 year high of $212.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s quarterly revenue was up 229.7% compared to the same quarter last year. During the same period in the prior year, the firm earned ($1.42) earnings per share. As a group, sell-side analysts expect that Insmed, Inc. will post -2.52 EPS for the current year.

Institutional Investors Weigh In On Insmed

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC boosted its stake in Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares in the last quarter. CoreCap Advisors LLC purchased a new position in shares of Insmed during the fourth quarter worth about $27,000. SBI Securities Co. Ltd. increased its position in shares of Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after purchasing an additional 166 shares in the last quarter. GraniteShares Advisors LLC acquired a new stake in shares of Insmed during the fourth quarter worth about $30,000. Finally, Reflection Asset Management purchased a new stake in shares of Insmed in the 4th quarter valued at about $30,000.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on INSM. Barclays lifted their price objective on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. Raymond James Financial initiated coverage on Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target on the stock. Roth Mkm reaffirmed a “buy” rating and set a $212.00 price target on shares of Insmed in a report on Friday, April 17th. Leerink Partners upped their price objective on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Finally, Stifel Nicolaus increased their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $210.95.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.