Insider Selling: Insmed (NASDAQ:INSM) Insider Sells $173,050.92 in Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction that occurred on Monday, June 22nd. The stock was sold at an average price of $95.82, for a total transaction of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares in the company, valued at approximately $3,607,431.36. This trade represents a 4.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Michael Alexander Smith sold 2,159 shares of Insmed stock. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93.
• On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The stock was sold at an average price of $108.47, for a total transaction 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 transaction of $2,964,945.24.

Insmed Price Performance

Shares of NASDAQ:INSM opened at $103.38 on Friday. The company’s fifty day moving average is $112.90 and its two-hundred day moving average is $143.82. The company has a market cap of $22.41 billion, a P/E ratio of -17.98 and a beta of 0.79. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.Insmed’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. Equities analysts expect that Insmed, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its stake in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 263 shares during the last quarter. First Trust Advisors LP increased its position in Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after buying an additional 21,176 shares during the last quarter. Baird Financial Group Inc. bought a new position in Insmed during the second quarter valued at about $2,589,000. Amundi raised its holdings in Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Insmed in the second quarter worth about $1,072,000.

Wall Street Analyst Weigh In

INSM has been the topic of a number of research reports. Guggenheim dropped their target price on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a report on Friday, May 8th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. Raymond James Financial began coverage on shares of Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Wednesday, June 10th. Finally, HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research note on Friday, May 8th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus price target of $211.86.

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.