William Lewis Sells 7,605 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 7,605 shares of Insmed stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $777,763.35. Following the sale, the chief executive officer owned 265,432 shares in the company, valued at $27,145,730.64. This represents a 2.79% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

William Lewis also recently made the following trade(s):

• On Thursday, April 16th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03.
• On Monday, April 6th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $163.22, for a total transaction of $1,746,290.78.
• On Thursday, March 19th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $143.52, for a total transaction of $1,535,520.48.

Insmed Stock Down 10.2%

INSM opened at $94.22 on Friday. Insmed, Inc. has a fifty-two week low of $70.57 and a fifty-two week high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The firm’s fifty day moving average price is $130.45 and its two-hundred day moving average price is $154.95. The company has a market capitalization of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same quarter in the previous year, the company earned ($1.42) EPS. The firm’s revenue for the quarter was up 229.7% compared to the same quarter last year. On average, analysts anticipate that Insmed, Inc. will post -2.56 EPS for the current year.

Hedge Funds Weigh In On Insmed

Institutional investors and hedge funds have recently modified their holdings of the business. CIBC Private Wealth Group LLC grew its position in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares during the period. CoreCap Advisors LLC acquired a new position in shares of Insmed in the 4th quarter valued at approximately $27,000. SBI Securities Co. Ltd. grew its position in shares of Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 166 shares during the period. GraniteShares Advisors LLC acquired a new position in shares of Insmed in the 4th quarter valued at approximately $30,000. Finally, Reflection Asset Management acquired a new position in shares of Insmed in the 4th quarter valued at approximately $30,000.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSM. Truist Financial dropped their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Roth Mkm reissued a “buy” rating and set a $212.00 price objective on shares of Insmed in a report on Friday, April 17th. Raymond James Financial started coverage on Insmed in a report on Friday, April 10th. They set an “outperform” rating and a $200.00 price objective for the company. Guggenheim lowered their price target on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a research note on Friday, May 8th. Finally, Wells Fargo & Company lowered their price target on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $210.50.

About Insmed

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.