William Lewis Sells 2,978 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 2,978 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.36, for a total transaction of $188,686.08. Following the sale, the chief executive officer now owns 392,589 shares of the company’s stock, valued at approximately $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link.

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

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

Insmed Price Performance

NASDAQ INSM opened at $65.25 on Friday. The stock has a 50-day simple moving average of $71.23 and a 200 day simple moving average of $72.44. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The stock has a market capitalization of $11.67 billion, a PE ratio of -11.76 and a beta of 1.12. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

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 the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period last year, the company earned ($1.10) earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Research analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current year.

Analyst Ratings Changes

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

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Victory Capital Management Inc. lifted its stake in shares of Insmed by 672.7% in the second quarter. Victory Capital Management Inc. now owns 147,140 shares of the biopharmaceutical company’s stock valued at $9,858,000 after buying an additional 128,098 shares during the period. Private Advisor Group LLC bought a new stake in shares of Insmed in the 2nd quarter worth approximately $575,000. Los Angeles Capital Management LLC acquired a new stake in shares of Insmed during the 2nd quarter worth approximately $258,000. ClariVest Asset Management LLC bought a new stake in shares of Insmed during the second quarter valued at approximately $738,000. Finally, American Century Companies Inc. raised its stake in shares of Insmed by 7.5% in the second quarter. American Century Companies Inc. now owns 755,271 shares of the biopharmaceutical company’s stock valued at $50,603,000 after purchasing an additional 52,647 shares in the last quarter.

Insmed Company Profile

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.