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

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 21,398 shares of Insmed stock in a transaction that occurred on Thursday, June 25th. The shares were sold at an average price of $103.32, for a total transaction of $2,210,841.36. Following the completion of the transaction, the chief executive officer owned 258,917 shares of the company’s stock, valued at $26,751,304.44. This trade represents a 7.63% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through 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 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.
• On Monday, April 6th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $163.22, for a total transaction of $1,746,290.78.

Insmed Stock Down 1.0%

NASDAQ:INSM traded down $1.09 during midday trading on Friday, reaching $103.38. The company had a trading volume of 6,250,094 shares, compared to its average volume of 3,146,299. Insmed, Inc. has a 12-month low of $90.39 and a 12-month high of $212.75. 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 has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. The stock’s fifty day simple moving average is $113.76 and its 200-day simple moving average is $144.11.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analyst estimates 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 for the quarter was up 229.7% compared to the same quarter last year. During the same quarter last year, the company earned ($1.42) EPS. On average, sell-side analysts anticipate that Insmed, Inc. will post -2.55 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Insmed

Several large investors have recently modified their holdings of INSM. Norges Bank purchased a new position in shares of Insmed during the fourth quarter worth approximately $506,625,000. RTW Investments LP raised its holdings in shares of Insmed by 57.0% in the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock valued at $842,855,000 after buying an additional 1,758,321 shares during the last quarter. Artisan Partners Limited Partnership boosted its stake in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after buying an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd acquired a new position in Insmed in the 2nd quarter valued at about $153,389,000. Finally, State Street Corp lifted its position in Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after acquiring an additional 1,217,390 shares during the period.

Analyst Ratings Changes

Several research firms have commented on INSM. Royal Bank Of Canada lowered their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Roth Mkm restated a “buy” rating on shares of Insmed in a report on Monday, June 8th. Stifel Nicolaus boosted their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Morgan Stanley raised Insmed from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $166.00 to $212.00 in a report on Monday, March 30th. Finally, Wells Fargo & Company cut their target price on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a research report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, 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.