Roger Adsett Sells 2,370 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) COO Roger Adsett sold 2,370 shares of the stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90. Following the sale, the chief operating officer directly owned 98,603 shares in the company, valued at $10,084,128.81. This trade represents a 2.35% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Roger Adsett also recently made the following trade(s):

• On Wednesday, April 1st, Roger Adsett sold 88,060 shares of Insmed stock. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80.

Insmed Stock Performance

INSM opened at $94.22 on Friday. The company has a quick ratio of 4.10, a current ratio of 4.47 and a debt-to-equity ratio of 0.80. The company has a market cap of $20.42 billion, a price-to-earnings ratio of -16.39 and a beta of 0.79. Insmed, Inc. has a 52-week low of $70.57 and a 52-week high of $212.75. The firm’s fifty day simple moving average is $130.45 and its two-hundred day simple moving average is $154.95.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company’s revenue was up 229.7% compared to the same quarter last year. During the same period last year, the firm posted ($1.42) earnings per share. Equities analysts anticipate that Insmed, Inc. will post -2.56 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on INSM shares. Bank of America increased their price objective on shares of Insmed from $211.00 to $213.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Jefferies Financial Group started coverage on shares of Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 price objective on the stock. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $166.00 to $212.00 in a report on Monday, March 30th. Stifel Nicolaus increased their price objective on shares of Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. Finally, Leerink Partners increased their price objective on shares of Insmed from $210.00 to $215.00 and gave the company an “outperform” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $210.50.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently modified their holdings of INSM. EverSource Wealth Advisors LLC lifted its stake in shares of Insmed by 65.6% in the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after buying an additional 263 shares in the last quarter. First Trust Advisors LP lifted its stake in shares of Insmed by 80.8% in 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 in the last quarter. Baird Financial Group Inc. purchased a new position in shares of Insmed in the second quarter worth about $2,589,000. Amundi lifted its stake in shares of Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis purchased a new position in shares of Insmed in the second quarter worth about $1,072,000.

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.