Insider Selling: Insmed, Inc. (INSM) Director Sells 50,000 Shares of Stock
Insmed, Inc. (NASDAQ:INSM) Director Melvin Md Sharoky sold 50,000 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $27.37, for a total value of $1,368,500.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Insmed, Inc. (NASDAQ INSM) traded up 4.26% on Thursday, reaching $30.61. The company’s stock had a trading volume of 11,089,164 shares. Insmed, Inc. has a 1-year low of $10.21 and a 1-year high of $31.39. The company’s market capitalization is $1.91 billion. The firm’s 50 day moving average price is $14.72 and its 200-day moving average price is $16.25.
Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.63) by $0.09. Equities analysts forecast that Insmed, Inc. will post ($2.70) earnings per share for the current year.
Institutional investors and hedge funds have recently modified their holdings of the business. SG Americas Securities LLC acquired a new stake in Insmed during the 2nd quarter worth about $129,000. BNP Paribas Arbitrage SA lifted its position in Insmed by 666.7% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock worth $129,000 after acquiring an additional 6,520 shares during the period. UBS Asset Management Americas Inc. acquired a new stake in Insmed during the 2nd quarter worth about $187,000. Driehaus Capital Management LLC acquired a new stake in Insmed during the 1st quarter worth about $192,000. Finally, Virtu KCG Holdings LLC acquired a new stake in Insmed during the 2nd quarter worth about $201,000. 89.64% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on INSM. Cowen and Company reaffirmed an “outperform” rating and set a $54.00 price target on shares of Insmed in a report on Wednesday. Stifel Nicolaus reaffirmed a “buy” rating and set a $43.00 price target (up from $27.00) on shares of Insmed in a report on Wednesday. Robert W. Baird reaffirmed a “positive” rating and set a $32.00 price target (up from $23.00) on shares of Insmed in a report on Wednesday. HC Wainwright reaffirmed a “buy” rating and set a $35.00 price target on shares of Insmed in a report on Wednesday. Finally, ValuEngine raised Insmed from a “sell” rating to a “hold” rating in a report on Wednesday. One research analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Insmed currently has a consensus rating of “Buy” and an average target price of $34.50.
Insmed Company Profile
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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