Insider Selling: Insmed (NASDAQ:INSM) Insider Sells 1,806 Shares of Stock

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 1,806 shares of the company’s stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $95.82, for a total value of $173,050.92. Following the completion of the transaction, the insider directly owned 37,648 shares of the company’s stock, valued at approximately $3,607,431.36. The trade was a 4.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, June 3rd, Michael Alexander Smith sold 2,159 shares of Insmed stock. The shares were sold at an average price of $102.27, for a total value of $220,800.93.
• On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The shares were sold at an average price of $108.47, for a total value of $666,982.03.
• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The stock was sold at an average price of $150.98, for a total value of $2,964,945.24.

Insmed Trading Up 1.3%

Shares of Insmed stock traded up $1.29 on Wednesday, hitting $103.44. The stock had a trading volume of 3,108,047 shares, compared to its average volume of 3,109,517. The stock has a 50 day moving average of $115.70 and a 200 day moving average of $145.52. The firm has a market capitalization of $22.42 billion, a P/E ratio of -17.99 and a beta of 0.79. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping the consensus estimate 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 business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the company earned ($1.42) EPS. The firm’s revenue was up 229.7% compared to the same quarter last year. Sell-side analysts expect that Insmed, Inc. will post -2.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insmed

Several hedge funds and other institutional investors have recently bought and sold shares of INSM. Norges Bank bought a new position in shares of Insmed in the 4th quarter worth about $506,625,000. RTW Investments LP grew its stake in Insmed by 57.0% during the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the period. Artisan Partners Limited Partnership grew its stake in Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock worth $711,076,000 after purchasing an additional 1,623,342 shares during the period. Orbis Allan Gray Ltd bought a new stake in Insmed in the second quarter worth approximately $153,389,000. Finally, State Street Corp increased its holdings in Insmed by 30.6% in 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 in the last quarter.

Analyst Ratings Changes

Several brokerages recently issued reports on INSM. Jefferies Financial Group initiated coverage on Insmed in a research report on Monday, March 16th. They set a “buy” rating and a $228.00 target price for the company. Roth Mkm reissued a “buy” rating on shares of Insmed in a research note on Monday, June 8th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Tuesday, April 21st. Bank of America raised their price objective on Insmed from $211.00 to $213.00 and gave the stock a “buy” rating in a research report on Tuesday, March 24th. Finally, Royal Bank Of Canada cut their price objective on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $211.86.

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.