Insider Selling: Insmed (NASDAQ:INSM) CEO Sells $777,763.35 in Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 7,605 shares of the firm’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $777,763.35. Following the sale, the chief executive officer directly owned 265,432 shares in the company, valued at approximately $27,145,730.64. The trade was a 2.79% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

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

• On Thursday, April 16th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03.
• On Monday, April 6th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $163.22, for a total transaction of $1,746,290.78.
• On Thursday, March 19th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $143.52, for a total transaction of $1,535,520.48.

Insmed Stock Performance

INSM opened at $94.22 on Monday. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The company has a market cap of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79. The company’s 50 day moving average is $130.45 and its 200 day moving average is $154.65. Insmed, Inc. has a 12-month low of $70.57 and a 12-month high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue was up 229.7% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.42) earnings per share. On average, equities research analysts predict that Insmed, Inc. will post -2.56 EPS for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on INSM. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Truist Financial dropped their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Mizuho raised their target price on shares of Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. Barclays raised their target price on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Finally, Guggenheim decreased their target price on shares of Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

Institutional Trading of Insmed

Hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its stake in Insmed by 5.7% during the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after purchasing an additional 1,140,524 shares in the last quarter. Darwin Global Management Ltd. lifted its position in shares of Insmed by 2.3% during the 4th quarter. Darwin Global Management Ltd. now owns 20,933,277 shares of the biopharmaceutical company’s stock valued at $3,644,274,000 after buying an additional 475,832 shares in the last quarter. Capital International Investors boosted its stake in Insmed by 1.0% during the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock worth $1,087,830,000 after purchasing an additional 74,994 shares during the last quarter. State Street Corp boosted its stake in Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the last quarter. Finally, Artisan Partners Limited Partnership raised its holdings in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after acquiring an additional 1,623,342 shares during the period.

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.