Insider Selling: Insmed (NASDAQ:INSM) CEO Sells 10,699 Shares of Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48. Following the sale, the chief executive officer directly owned 301,185 shares in the company, valued at $43,226,071.20. The trade was a 3.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

• On Thursday, March 5th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $146.03, for a total value of $1,562,374.97.
• On Thursday, February 19th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $150.97, for a total value of $1,615,228.03.
• On Monday, February 9th, William Lewis sold 13,396 shares of Insmed stock. The shares were sold at an average price of $147.79, for a total transaction of $1,979,794.84.
• On Tuesday, February 3rd, William Lewis sold 3,009 shares of Insmed stock. The shares were sold at an average price of $156.34, for a total transaction of $470,427.06.
• On Tuesday, January 20th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $158.93, for a total transaction of $1,700,392.07.
• On Monday, January 12th, William Lewis sold 19,215 shares of Insmed stock. The stock was sold at an average price of $169.00, for a total transaction of $3,247,335.00.
• On Thursday, January 8th, William Lewis sold 3,223 shares of Insmed stock. The stock was sold at an average price of $174.17, for a total transaction of $561,349.91.
• On Wednesday, January 7th, William Lewis sold 2,357 shares of Insmed stock. The shares were sold at an average price of $175.07, for a total transaction of $412,639.99.
• On Tuesday, January 6th, William Lewis sold 4,096 shares of Insmed stock. The shares were sold at an average price of $173.33, for a total transaction of $709,959.68.

Insmed Price Performance

NASDAQ:INSM traded down $8.00 during midday trading on Friday, hitting $136.00. 1,365,912 shares of the stock were exchanged, compared to its average volume of 2,390,861. The company has a market capitalization of $29.31 billion, a price-to-earnings ratio of -21.22 and a beta of 1.13. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. Insmed, Inc. has a one year low of $60.40 and a one year high of $212.75. The business has a 50-day moving average price of $152.75 and a two-hundred day moving average price of $165.96.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm had revenue of $263.84 million for the quarter, compared to the consensus estimate of $263.97 million. During the same period in the previous year, the business posted ($1.32) earnings per share. The business’s revenue for the quarter was up 152.6% compared to the same quarter last year. Sell-side analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the company. Savant Capital LLC acquired a new stake in shares of Insmed during the second quarter valued at approximately $205,000. PNC Financial Services Group Inc. raised its stake in Insmed by 8.8% during the 2nd quarter. PNC Financial Services Group Inc. now owns 11,576 shares of the biopharmaceutical company’s stock valued at $1,165,000 after purchasing an additional 933 shares during the period. Creative Planning lifted its holdings in shares of Insmed by 0.6% in the second quarter. Creative Planning now owns 72,176 shares of the biopharmaceutical company’s stock valued at $7,264,000 after purchasing an additional 432 shares in the last quarter. Cetera Investment Advisers boosted its position in shares of Insmed by 52.1% in the second quarter. Cetera Investment Advisers now owns 31,462 shares of the biopharmaceutical company’s stock worth $3,166,000 after buying an additional 10,783 shares during the period. Finally, Kingsview Wealth Management LLC acquired a new stake in shares of Insmed in the second quarter worth $228,000.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on INSM. Truist Financial set a $205.00 price target on shares of Insmed in a report on Monday, January 12th. Royal Bank Of Canada boosted their target price on shares of Insmed from $197.00 to $200.00 and gave the stock an “outperform” rating in a report on Wednesday, January 21st. Citigroup reissued an “outperform” rating on shares of Insmed in a research note on Thursday, December 18th. Morgan Stanley set a $166.00 price target on shares of Insmed in a research report on Friday, February 20th. Finally, Roth Mkm raised Insmed to a “strong-buy” rating in a report on Friday, January 23rd. Three analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Buy” and a consensus target price of $205.57.

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.