Insider Selling: Insmed (NASDAQ:INSM) COO Sells $31,964,809.50 in Stock

Insmed, Inc. (NASDAQ:INSM) COO Roger Adsett sold 239,850 shares of the business’s stock in a transaction on Monday, August 10th. The shares were sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the completion of the transaction, the chief operating officer directly owned 98,744 shares in the company, valued at $13,159,612.88. This represents a 70.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.

Roger Adsett also recently made the following trade(s):

• On Wednesday, June 3rd, Roger Adsett sold 2,370 shares of Insmed stock. The shares were sold at an average price of $102.27, for a total value of $242,379.90.

Insmed Trading Down 2.1%

Shares of INSM stock opened at $123.74 on Friday. The business’s fifty day moving average price is $107.88 and its 200 day moving average price is $128.20. Insmed, Inc. has a 1-year low of $90.39 and a 1-year high of $212.75. The firm has a market capitalization of $27.02 billion, a PE ratio of -30.11 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The company had revenue of $425.49 million during the quarter, compared to the consensus estimate of $395.50 million. During the same quarter last year, the company earned ($1.70) earnings per share. Insmed’s quarterly revenue was up 296.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Insmed, Inc. will post -1.83 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSM. Jefferies Financial Group restated a “buy” rating and set a $175.00 target price on shares of Insmed in a research report on Thursday, August 6th. Truist Financial reiterated a “buy” rating and set a $195.00 price target (up from $185.00) on shares of Insmed in a research report on Monday. Guggenheim decreased their price target on Insmed from $207.00 to $205.00 and set a “buy” rating on the stock in a research note on Friday, August 7th. Cantor Fitzgerald restated an “overweight” rating and issued a $235.00 price target on shares of Insmed in a report on Tuesday, July 28th. Finally, Mizuho set a $192.00 price objective on Insmed in a research note on Tuesday, June 16th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. According to MarketBeat.com, Insmed currently has a consensus rating of “Buy” and an average target price of $205.52.

Institutional Trading of Insmed

Several institutional investors and hedge funds have recently modified their holdings of the business. Bank of New York Mellon Corp acquired a new stake in shares of Insmed in the second quarter valued at approximately $139,966,000. S&CO Inc. acquired a new position in shares of Insmed during the 2nd quarter worth approximately $1,386,000. E. Ohman J or Asset Management AB lifted its stake in Insmed by 48.7% in the 2nd quarter. E. Ohman J or Asset Management AB now owns 7,789 shares of the biopharmaceutical company’s stock valued at $830,000 after buying an additional 2,550 shares in the last quarter. Handelsbanken Fonder AB lifted its stake in Insmed by 180.9% in the 2nd quarter. Handelsbanken Fonder AB now owns 189,581 shares of the biopharmaceutical company’s stock valued at $20,213,000 after buying an additional 122,100 shares in the last quarter. Finally, Wealthcare Advisory Partners LLC acquired a new stake in Insmed during the 2nd quarter valued at $498,000.

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.