Insmed (NASDAQ:INSM) Insider Michael Alexander Smith Sells 19,638 Shares

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 19,638 shares of Insmed stock in a transaction that occurred on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the sale, the insider owned 51,871 shares of the company’s stock, valued at $7,831,483.58. This trade represents a 27.46% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

Michael Alexander Smith also recently made the following trade(s):

• On Tuesday, February 3rd, Michael Alexander Smith sold 640 shares of Insmed stock. The shares were sold at an average price of $156.27, for a total transaction of $100,012.80.
• On Thursday, January 8th, Michael Alexander Smith sold 1,053 shares of Insmed stock. The stock was sold at an average price of $174.17, for a total transaction of $183,401.01.
• On Wednesday, January 7th, Michael Alexander Smith sold 709 shares of Insmed stock. The stock was sold at an average price of $175.07, for a total transaction of $124,124.63.
• On Tuesday, January 6th, Michael Alexander Smith sold 1,396 shares of Insmed stock. The shares were sold at an average price of $173.33, for a total transaction of $241,968.68.

Insmed Stock Performance

INSM stock traded down $1.68 during midday trading on Thursday, reaching $163.18. The stock had a trading volume of 221,322 shares, compared to its average volume of 2,527,628. The stock has a market cap of $35.17 billion, a PE ratio of -25.45 and a beta of 1.10. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. The firm has a fifty day simple moving average of $150.14 and a two-hundred day simple moving average of $166.41. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $212.75.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm’s revenue for the quarter was up 152.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($1.32) EPS. As a group, equities research analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INSM. UBS Group cut their price target on shares of Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $166.00 to $212.00 in a research note on Monday. Citigroup reissued an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Roth Mkm raised shares of Insmed to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Wells Fargo & Company cut their price target on Insmed from $208.00 to $175.00 and set an “overweight” rating on the stock in a research report on Monday, March 23rd. Three investment analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $212.67.

Institutional Trading of Insmed

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Hsbc Holdings PLC increased its holdings in Insmed by 8,052.6% in the fourth quarter. Hsbc Holdings PLC now owns 123,267 shares of the biopharmaceutical company’s stock valued at $21,493,000 after buying an additional 121,755 shares in the last quarter. Rockefeller Capital Management L.P. grew its position in shares of Insmed by 88.2% during the 4th quarter. Rockefeller Capital Management L.P. now owns 16,775 shares of the biopharmaceutical company’s stock valued at $2,920,000 after acquiring an additional 7,863 shares during the period. Corient Private Wealth LLC grew its position in shares of Insmed by 34.1% during the 4th quarter. Corient Private Wealth LLC now owns 20,865 shares of the biopharmaceutical company’s stock valued at $3,631,000 after acquiring an additional 5,305 shares during the period. Keenan LLC purchased a new position in shares of Insmed in the 4th quarter valued at about $369,000. Finally, Reflection Asset Management purchased a new position in shares of Insmed in the 4th quarter valued at about $30,000.

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.