William Lewis Sells 21,398 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 21,398 shares of the stock in a transaction dated Thursday, June 25th. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36. Following the completion of the transaction, the chief executive officer directly owned 258,917 shares in the company, valued at $26,751,304.44. The trade was a 7.63% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, William Lewis sold 7,605 shares of Insmed stock. The stock was sold at an average price of $102.27, for a total value of $777,763.35.
• 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 value 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.

Insmed Stock Down 1.0%

Insmed stock opened at $103.38 on Friday. The firm has a market capitalization of $22.41 billion, a price-to-earnings ratio of -17.98 and a beta of 0.79. The company’s 50 day simple moving average is $112.90 and its 200 day simple moving average is $143.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a fifty-two week low of $90.39 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The firm had revenue of $305.96 million during 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 business’s quarterly revenue was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.42) earnings per share. As a group, sell-side analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

INSM has been the topic of several research analyst reports. Jefferies Financial Group began coverage on Insmed in a research note on Monday, March 16th. They set a “buy” rating and a $228.00 price objective on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a report on Tuesday, April 21st. Roth Mkm reaffirmed a “buy” rating on shares of Insmed in a research report on Monday, June 8th. Truist Financial dropped their price target on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a research report on Wednesday, May 13th. Finally, Stifel Nicolaus lifted their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $211.86.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently modified their holdings of the company. CoreCap Advisors LLC bought a new position in shares of Insmed during the fourth quarter worth about $27,000. Reflection Asset Management bought a new stake in Insmed in the 4th quarter valued at approximately $30,000. GraniteShares Advisors LLC bought a new stake in Insmed in the 4th quarter valued at approximately $30,000. CIBC Private Wealth Group LLC boosted its position in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares during the last quarter. Finally, Raiffeisen Bank International AG acquired a new position in Insmed during the 4th quarter worth approximately $32,000.

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.