Michael Alexander Smith Sells 2,159 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 2,159 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $220,800.93. Following the completion of the sale, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03.
• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24.

Insmed Trading Down 10.2%

NASDAQ:INSM opened at $94.22 on Friday. The stock’s 50 day moving average price is $130.45 and its 200 day moving average price is $154.95. Insmed, Inc. has a 52 week low of $70.57 and a 52 week high of $212.75. The company has a market capitalization of $20.42 billion, a P/E ratio of -16.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same quarter in the prior year, the company posted ($1.42) earnings per share. The firm’s revenue was up 229.7% on a year-over-year basis. On average, research analysts forecast that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Insmed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. CoreCap Advisors LLC acquired a new position in Insmed during the fourth quarter valued at approximately $27,000. Reflection Asset Management acquired a new position in Insmed during the fourth quarter valued at approximately $30,000. GraniteShares Advisors LLC acquired a new position in Insmed during the fourth quarter valued at approximately $30,000. CIBC Private Wealth Group LLC grew its holdings in Insmed by 42.1% during the third 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 last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Insmed during the fourth quarter valued at approximately $32,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on INSM. Roth Mkm restated a “buy” rating and issued a $212.00 price objective on shares of Insmed in a report on Friday, April 17th. Raymond James Financial began coverage on Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective on the stock. Bank of America increased their price objective on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Mizuho increased their price objective on Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Finally, Guggenheim dropped their price objective on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $210.50.

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.