Insider Selling: Insmed (NASDAQ:INSM) CEO Sells 10,699 Shares of Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 10,699 shares of the company’s stock in a transaction that occurred on Tuesday, January 20th. The shares were sold at an average price of $158.93, for a total value of $1,700,392.07. Following the completion of the sale, the chief executive officer owned 306,891 shares in the company, valued at approximately $48,774,186.63. This represents a 3.37% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

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

• On Monday, January 12th, William Lewis sold 19,215 shares of Insmed stock. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00.
• On Thursday, January 8th, William Lewis sold 3,223 shares of Insmed stock. The stock was sold at an average price of $174.17, for a total transaction of $561,349.91.
• On Wednesday, January 7th, William Lewis sold 2,357 shares of Insmed stock. The stock was sold at an average price of $175.07, for a total transaction of $412,639.99.
• On Tuesday, January 6th, William Lewis sold 4,096 shares of Insmed stock. The stock was sold at an average price of $173.33, for a total value of $709,959.68.
• On Thursday, December 18th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $166.97, for a total value of $1,786,412.03.

Insmed Stock Performance

Shares of INSM stock traded up $4.07 on Thursday, hitting $160.39. The company had a trading volume of 2,701,929 shares, compared to its average volume of 2,923,189. The firm has a market cap of $34.21 billion, a P/E ratio of -25.91 and a beta of 1.08. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The company has a 50-day moving average price of $185.75 and a 200-day moving average price of $155.66. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The company had revenue of $142.34 million during the quarter, compared to analyst estimates of $114.33 million. During the same period in the previous year, the firm posted ($1.27) earnings per share. The company’s revenue was up 52.4% compared to the same quarter last year. As a group, equities research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSM. Guggenheim dropped their price objective on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Jefferies Financial Group set a $269.00 target price on shares of Insmed in a research report on Wednesday, December 10th. Truist Financial set a $205.00 target price on shares of Insmed in a research note on Monday, January 12th. TD Cowen set a $241.00 price target on shares of Insmed in a research note on Thursday, December 18th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research note on Wednesday, October 8th. Two investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $204.33.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently modified their holdings of the stock. CoreCap Advisors LLC acquired a new position in shares of Insmed during the 4th quarter valued at about $27,000. GraniteShares Advisors LLC acquired a new stake in Insmed during the fourth quarter worth about $30,000. CIBC Private Wealth Group LLC raised its stake in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the period. Stone House Investment Management LLC purchased a new position in Insmed during the third quarter worth about $29,000. Finally, SBI Securities Co. Ltd. boosted its holdings in 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 last quarter.

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.