Insider Selling: Insmed (NASDAQ:INSM) CFO Sells $245,857.08 in Stock

Insmed, Inc. (NASDAQ:INSM) CFO Sara Bonstein sold 2,404 shares of the business’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the transaction, the chief financial officer directly owned 69,082 shares in the company, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Insmed Price Performance

NASDAQ INSM opened at $94.22 on Monday. The stock’s 50 day moving average is $130.45 and its 200 day moving average is $154.65. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 12 month low of $70.57 and a 12 month high of $212.75. The stock has a market cap of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79.

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

Hedge Funds Weigh In On Insmed

Large investors have recently modified their holdings of the stock. Artisan Partners Limited Partnership increased its position in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC purchased a new stake in Insmed in the third quarter worth $13,681,000. iA Global Asset Management Inc. increased its stake in Insmed by 15,973.5% in the fourth quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company’s stock worth $4,644,000 after purchasing an additional 26,516 shares during the period. Nordea Investment Management AB purchased a new stake in Insmed in the fourth quarter worth $3,492,000. Finally, Essex Investment Management Co. LLC increased its stake in Insmed by 31.2% in the third quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company’s stock worth $12,540,000 after purchasing an additional 20,732 shares during the period.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on INSM. Wells Fargo & Company decreased their price objective on Insmed from $177.00 to $160.00 and set an “overweight” rating on the stock in a report on Friday, May 8th. Truist Financial decreased their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Bank of America upped their price objective on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a report on Tuesday, March 24th. Royal Bank Of Canada decreased their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Jefferies Financial Group began coverage on Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 price objective on the stock. One analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $210.50.

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.