William Lewis Sells 18,750 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

Insmed Trading Up 1.5 %

Insmed stock traded up $1.03 during trading hours on Friday, reaching $70.44. 5,932,421 shares of the company’s stock were exchanged, compared to its average volume of 2,217,081. The firm has a market capitalization of $12.60 billion, a PE ratio of -12.69 and a beta of 1.10. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm’s 50 day simple moving average is $72.44 and its 200 day simple moving average is $71.67. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period in the prior year, the company earned ($1.10) earnings per share. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

Institutional Trading of Insmed

Hedge funds have recently modified their holdings of the stock. Darwin Global Management Ltd. acquired a new stake in Insmed in the second quarter worth $237,076,000. Vestal Point Capital LP boosted its position in shares of Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares in the last quarter. Clearbridge Investments LLC increased its position in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after buying an additional 714,539 shares in the last quarter. Fiera Capital Corp acquired a new position in Insmed during the 2nd quarter worth approximately $40,570,000. Finally, Farallon Capital Management LLC acquired a new position in Insmed during the 2nd quarter worth approximately $38,056,000.

Analyst Upgrades and Downgrades

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

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.