Insider Selling: Insmed, Inc. (INSM) Director Sells 45,000 Shares of Stock
Insmed, Inc. (NASDAQ:INSM) Director Donald J. Hayden, Jr. sold 45,000 shares of Insmed stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $29.67, for a total transaction of $1,335,150.00. Following the transaction, the director now directly owns 71,131 shares of the company’s stock, valued at $2,110,456.77. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
Insmed, Inc. (INSM) traded up 4.26% during midday trading on Thursday, reaching $30.61. 11,089,164 shares of the company’s stock traded hands. The stock has a 50-day moving average of $14.72 and a 200 day moving average of $16.25. Insmed, Inc. has a 52-week low of $10.21 and a 52-week high of $31.39. The company’s market cap is $1.91 billion.
Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) EPS for the quarter, missing analysts’ consensus estimates of ($0.63) by $0.09. On average, analysts anticipate that Insmed, Inc. will post ($2.70) earnings per share for the current fiscal year.
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Several equities analysts recently issued reports on INSM shares. Zacks Investment Research raised shares of Insmed from a “hold” rating to a “buy” rating and set a $19.00 price target for the company in a report on Wednesday, July 5th. Robert W. Baird started coverage on shares of Insmed in a report on Monday, July 10th. They set an “outperform” rating and a $23.00 price target for the company. BidaskClub raised shares of Insmed from a “sell” rating to a “hold” rating in a report on Friday, June 23rd. ValuEngine downgraded shares of Insmed from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, Citigroup Inc. reissued a “neutral” rating and set a $17.00 price target (up from $14.00) on shares of Insmed in a report on Sunday, June 11th. One research analyst has rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $34.50.
Several hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company lifted its holdings in shares of Insmed by 0.4% in the second quarter. The Manufacturers Life Insurance Company now owns 49,163 shares of the biopharmaceutical company’s stock worth $844,000 after acquiring an additional 197 shares during the last quarter. Redmile Group LLC bought a new position in shares of Insmed in the second quarter worth about $212,000. State Street Corp lifted its holdings in shares of Insmed by 15.2% in the second quarter. State Street Corp now owns 1,728,017 shares of the biopharmaceutical company’s stock worth $29,651,000 after acquiring an additional 228,406 shares during the last quarter. Palo Alto Investors LLC lifted its holdings in shares of Insmed by 1.6% in the second quarter. Palo Alto Investors LLC now owns 5,621,816 shares of the biopharmaceutical company’s stock worth $96,470,000 after acquiring an additional 87,666 shares during the last quarter. Finally, Nexthera Capital LP bought a new position in shares of Insmed in the second quarter worth about $2,746,000. 89.64% of the stock is owned by hedge funds and other institutional investors.
Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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