Insmed (NASDAQ:INSM) Hits New 1-Year High – Here’s Why

Insmed Incorporated (NASDAQ:INSM) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $81.25 and last traded at $81.01, with a volume of 1762349 shares changing hands. The stock had previously closed at $77.88.

Wall Street Analyst Weigh In

Several research analysts have recently commented on INSM shares. Truist Financial reissued a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Bank of America raised their price target on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insmed Trading Up 4.0 %

The stock has a 50-day simple moving average of $72.58 and a 200 day simple moving average of $72.99. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a market cap of $14.49 billion, a price-to-earnings ratio of -14.60 and a beta of 1.11.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction dated Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the completion of the transaction, the insider now directly owns 97,083 shares of the company’s stock, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 195,880 shares of company stock worth $14,452,494 over the last quarter. Insiders own 4.60% of the company’s stock.

Hedge Funds Weigh In On Insmed

Large investors have recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Insmed during the third quarter valued at $30,000. GAMMA Investing LLC grew its position in shares of Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the period. Spire Wealth Management purchased a new position in shares of Insmed in the 4th quarter valued at about $47,000. Exchange Traded Concepts LLC raised its holdings in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Finally, Venturi Wealth Management LLC purchased a new position in Insmed during the fourth quarter worth approximately $86,000.

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.