William Lewis Sells 8,218 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 8,218 shares of Insmed stock in a transaction dated Tuesday, January 7th. The shares were sold at an average price of $66.02, for a total transaction of $542,552.36. Following the completion of the sale, the chief executive officer now owns 376,742 shares in the company, valued at approximately $24,872,506.84. This represents a 2.13 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

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

• On Friday, January 10th, William Lewis sold 2,978 shares of Insmed stock. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08.
• 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 value 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 Trading Down 0.7 %

Shares of NASDAQ INSM opened at $65.25 on Friday. The business has a 50 day simple moving average of $71.23 and a 200 day simple moving average of $72.44. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The stock has a market cap of $11.67 billion, a price-to-earnings 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 earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned ($1.10) earnings per share. On average, research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insmed

Hedge funds have recently bought and sold shares of the business. Darwin Global Management Ltd. acquired a new position in Insmed in the 2nd quarter valued at $237,076,000. Vestal Point Capital LP grew its position in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Clearbridge Investments LLC grew its position in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the last quarter. Farallon Capital Management LLC bought a new position in shares of Insmed in the second quarter worth about $38,056,000. Finally, Fred Alger Management LLC acquired a new position in shares of Insmed during the 2nd quarter worth about $33,404,000.

Analyst Ratings Changes

Several equities analysts have commented on INSM shares. JPMorgan Chase & Co. raised their target price on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial reaffirmed a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a report 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.com, the stock currently has a consensus rating of “Moderate Buy” and an average 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.