Insider Selling: Insmed (NASDAQ:INSM) CEO Sells $1,256,062.60 in Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 10,699 shares of the stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the transaction, the chief executive officer owned 259,058 shares in the company, valued at approximately $30,413,409.20. This trade represents a 3.97% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, June 25th, William Lewis sold 21,398 shares of Insmed stock. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36.
• 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 transaction 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 transaction of $1,540,335.03.

Insmed Stock Performance

NASDAQ:INSM opened at $115.61 on Monday. The firm has a market capitalization of $25.06 billion, a PE ratio of -20.11 and a beta of 0.78. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. 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 firm’s fifty day simple moving average is $107.21 and its 200 day simple moving average is $138.01.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the previous year, the business earned ($1.42) EPS. The business’s revenue was up 229.7% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed, Inc. will post -2.55 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on INSM shares. Truist Financial cut their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research report on Wednesday, May 13th. JPMorgan Chase & Co. lowered their target price on Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a report on Monday, June 8th. Mizuho set a $192.00 price target on Insmed in a research report on Tuesday, June 16th. Royal Bank Of Canada cut their price target on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Finally, Stifel Nicolaus increased their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a research report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $211.00.

Institutional Investors Weigh In On Insmed

A number of institutional investors have recently added to or reduced their stakes in INSM. E. Ohman J or Asset Management AB raised its holdings in Insmed by 48.7% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 7,789 shares of the biopharmaceutical company’s stock valued at $830,000 after acquiring an additional 2,550 shares in the last quarter. Handelsbanken Fonder AB lifted its position in shares of Insmed by 180.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 189,581 shares of the biopharmaceutical company’s stock worth $20,213,000 after acquiring an additional 122,100 shares during the period. Wealthcare Advisory Partners LLC acquired a new stake in shares of Insmed during the 2nd quarter worth approximately $498,000. FNY Investment Advisers LLC acquired a new stake in shares of Insmed during the 2nd quarter worth approximately $138,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab increased its position in shares of Insmed by 8.0% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 31,393 shares of the biopharmaceutical company’s stock valued at $3,347,000 after purchasing an additional 2,338 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.