Insmed (NASDAQ:INSM) CFO Sara Bonstein Sells 2,404 Shares

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

Insmed Trading Down 10.2%

NASDAQ INSM traded down $10.70 during trading on Friday, hitting $94.22. The company had a trading volume of 7,955,757 shares, compared to its average volume of 2,804,548. The company’s fifty day moving average is $131.53 and its 200-day moving average is $155.38. Insmed, Inc. has a one year low of $70.57 and a one year high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 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 (NASDAQ:INSM) last announced its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. During the same quarter in the previous year, the firm posted ($1.42) EPS. The company’s revenue for the quarter was up 229.7% compared to the same quarter last year. On average, sell-side analysts predict that Insmed, Inc. will post -2.56 earnings per share for the current year.

Hedge Funds Weigh In On Insmed

Several institutional investors and hedge funds have recently modified their holdings of the stock. EverSource Wealth Advisors LLC boosted its stake in Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP increased its stake in Insmed by 80.8% during the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares in the last quarter. Baird Financial Group Inc. purchased a new position in Insmed in the second quarter worth about $2,589,000. Amundi raised its holdings in 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 during the last quarter. Finally, Natixis bought a new position in shares of Insmed in the second quarter worth approximately $1,072,000.

Analysts Set New Price Targets

INSM has been the subject of a number of research analyst reports. Jefferies Financial Group started coverage on Insmed in a research note on Monday, March 16th. They issued a “buy” rating and a $228.00 target price for the company. Guggenheim decreased their price objective on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a report on Friday, May 8th. Mizuho raised their price objective on Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a research report on Wednesday, March 25th. Stifel Nicolaus boosted their target price 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, Raymond James Financial began coverage on shares of Insmed in a research note on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $210.50.

Insmed Company Profile

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.