Insmed (NASDAQ:INSM) Insider Sells $220,800.93 in Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 2,159 shares of the business’s stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $220,800.93. Following the sale, the insider owned 39,454 shares in the company, valued at $4,034,960.58. This trade represents a 5.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Alexander Smith also recently made the following trade(s):

• On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The shares were sold at an average price of $108.47, for a total value of $666,982.03.
• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24.

Insmed Stock Down 10.2%

NASDAQ INSM traded down $10.70 during trading hours on Friday, hitting $94.22. 7,955,757 shares of the company were exchanged, compared to its average volume of 2,804,548. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The firm has a market cap of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79. The company has a 50 day moving average of $131.53 and a two-hundred day moving average of $155.38. Insmed, Inc. has a 52-week low of $70.57 and a 52-week high of $212.75.

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

Hedge Funds Weigh In On Insmed

Several large investors have recently bought and sold shares of the stock. CIBC Private Wealth Group LLC lifted its holdings in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares during the last quarter. CoreCap Advisors LLC purchased a new position in Insmed during the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. grew its stake in Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after buying an additional 166 shares during the last quarter. GraniteShares Advisors LLC acquired a new position in Insmed during the fourth quarter worth approximately $30,000. Finally, Reflection Asset Management acquired a new position in Insmed during the fourth quarter worth approximately $30,000.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the stock. Barclays increased their price objective on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Leerink Partners boosted their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Raymond James Financial began coverage on Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target on the stock. Mizuho lifted their price target on Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a report on Wednesday, March 25th. Finally, Wells Fargo & Company lowered their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and an average price target of $210.50.

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.