Insider Selling: Insmed Incorporated (NASDAQ:INSM) CEO Sells 18,750 Shares of Stock

Insmed Incorporated (NASDAQ:INSM - Get Free Report) CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company's stock, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Insmed Stock Performance

Shares of INSM traded up $1.03 during mid-day trading on Friday, hitting $70.44. 5,932,421 shares of the company's stock were exchanged, compared to its average volume of 2,217,081. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The stock's 50-day simple moving average is $72.44 and its 200-day simple moving average is $71.67. The firm has a market cap of $12.60 billion, a price-to-earnings ratio of -12.69 and a beta of 1.10.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. Insmed's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.10) EPS. On average, equities research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on INSM shares. Truist Financial reiterated a "buy" rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America increased their price target on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research report on Monday, September 9th. HC Wainwright reissued a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. V Square Quantitative Management LLC acquired a new position in shares of Insmed in the 3rd quarter valued at approximately $30,000. GAMMA Investing LLC raised its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock valued at $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 287 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Finally, Nisa Investment Advisors LLC lifted its position in shares of Insmed by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company's stock worth $119,000 after buying an additional 135 shares during the last quarter.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed's first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.