Insmed (NASDAQ:INSM) COO Sells $31,964,809.50 in Stock

Insmed, Inc. (NASDAQ:INSM) COO Roger Adsett sold 239,850 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $133.27, for a total value of $31,964,809.50. Following the completion of the sale, the chief operating officer directly owned 98,744 shares of the company’s stock, valued at $13,159,612.88. This represents a 70.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Wednesday, June 3rd, Roger Adsett sold 2,370 shares of Insmed stock. The stock was sold at an average price of $102.27, for a total transaction of $242,379.90.

Insmed Stock Performance

INSM stock traded down $0.29 on Wednesday, reaching $132.28. 1,563,164 shares of the company were exchanged, compared to its average volume of 3,112,482. The firm has a market capitalization of $28.89 billion, a PE ratio of -32.18 and a beta of 0.81. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The stock’s fifty day moving average price is $106.29 and its 200 day moving average price is $128.64. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. The firm had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. Insmed had a negative net margin of 76.94% and a negative return on equity of 123.94%. The business’s revenue was up 296.1% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.70) EPS. On average, research analysts anticipate that Insmed, Inc. will post -2 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Guggenheim reduced their target price on shares of Insmed from $207.00 to $205.00 and set a “buy” rating for the company in a research note on Friday, August 7th. Mizuho set a $192.00 price target on Insmed in a research note on Tuesday, June 16th. Wells Fargo & Company upped their price target on Insmed from $161.00 to $169.00 and gave the company an “overweight” rating in a report on Friday, August 7th. BMO Capital Markets started coverage on Insmed in a research report on Monday, July 20th. They issued an “outperform” rating and a $192.00 price objective for the company. Finally, Truist Financial reissued a “buy” rating and set a $195.00 price objective (up from $185.00) on shares of Insmed in a report on Monday. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Insmed currently has an average rating of “Buy” and a consensus target price of $205.52.

Hedge Funds Weigh In On Insmed

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank acquired a new stake in shares of Insmed during the 4th quarter valued at about $506,625,000. RTW Investments LP increased its stake in 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 acquiring an additional 1,758,321 shares during the period. Orbis Allan Gray Ltd acquired a new position in Insmed in the second quarter worth about $153,389,000. Bank of New York Mellon Corp acquired a new position in Insmed in the second quarter worth about $139,966,000. Finally, State Street Corp lifted its stake in Insmed by 30.6% during the fourth quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the period.

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.