Insmed Incorporated (NASDAQ:INSM) CEO William Lewis Sells 31,805 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 31,805 shares of Insmed stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the transaction, the chief executive officer now owns 379,534 shares in the company, valued at approximately $26,635,696.12. This trade represents a 7.73 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

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

• On Friday, January 10th, William Lewis sold 2,978 shares of Insmed stock. The stock was sold at an average price of $63.36, for a total value of $188,686.08.
• On Tuesday, January 7th, William Lewis sold 8,218 shares of Insmed stock. The shares were sold at an average price of $66.02, for a total value of $542,552.36.
• On Thursday, January 2nd, William Lewis sold 18,750 shares of Insmed stock. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00.
• On Thursday, December 19th, William Lewis sold 18,750 shares of Insmed stock. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50.

Insmed Stock Performance

NASDAQ INSM opened at $72.75 on Friday. The business’s 50 day moving average price is $71.20 and its 200-day moving average price is $72.47. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.10) EPS. On average, analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current year.

Institutional Trading of Insmed

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INSM. CIBC Asset Management Inc boosted its position in shares of Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after buying an additional 149 shares during the period. Commerce Bank lifted its stake in shares of Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after acquiring an additional 163 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the period. Atomi Financial Group Inc. grew its position in Insmed by 1.4% in the 3rd quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after acquiring an additional 314 shares during the last quarter. Finally, V Square Quantitative Management LLC bought a new position in Insmed in the 3rd quarter valued at $30,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of several recent analyst reports. Bank of America lifted their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their target price on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.