William Lewis Sells 10,699 Shares of Insmed (NASDAQ:INSM) Stock

Insmed, Inc. (NASDAQ:INSM) CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, July 9th. The stock was sold at an average price of $117.40, for a total value of $1,256,062.60. Following the completion of the transaction, the chief executive officer owned 259,058 shares of the company’s stock, valued at approximately $30,413,409.20. This trade represents a 3.97% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Thursday, June 25th, William Lewis sold 21,398 shares of Insmed stock. The shares were sold at an average price of $103.32, for a total value of $2,210,841.36.
• On Wednesday, June 3rd, William Lewis sold 7,605 shares of Insmed stock. The stock was sold at an average price of $102.27, for a total value of $777,763.35.
• On Thursday, April 16th, William Lewis sold 10,699 shares of Insmed stock. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03.

Insmed Trading Down 2.2%

NASDAQ INSM traded down $2.65 on Friday, hitting $115.61. 2,931,464 shares of the stock were exchanged, compared to its average volume of 3,114,308. 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, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75. The firm has a market capitalization of $25.06 billion, a P/E ratio of -20.11 and a beta of 0.78. The stock has a fifty day moving average price of $107.60 and a two-hundred day moving average price of $138.43.

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 the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.42) earnings per share. Research analysts forecast that Insmed, Inc. will post -2.55 EPS for the current fiscal year.

Hedge Funds Weigh In On Insmed

A number of institutional investors have recently modified their holdings of the stock. CIBC Private Wealth Group LLC boosted its holdings in shares of Insmed by 42.1% in the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after purchasing an additional 53 shares during the period. CoreCap Advisors LLC purchased a new position in Insmed during the 4th quarter worth $27,000. GraniteShares Advisors LLC purchased a new position in Insmed during the 4th quarter worth $30,000. Reflection Asset Management bought a new stake in Insmed during the 4th quarter valued at $30,000. Finally, Raiffeisen Bank International AG bought a new stake in Insmed during the 4th quarter valued at $32,000.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Raymond James Financial began coverage on shares of Insmed in a research report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price objective on the stock. Leerink Partners increased their price target on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Mizuho set a $192.00 price target on Insmed in a research note on Tuesday, June 16th. Guggenheim restated a “buy” rating and set a $207.00 price objective on shares of Insmed in a report on Friday. Finally, Stifel Nicolaus boosted their price objective on Insmed from $205.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $211.00.

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.