Insmed (NASDAQ:INSM) Stock Price Down 4% Following Insider Selling

Insmed Incorporated (NASDAQ:INSM - Get Free Report)'s stock price dropped 4% during trading on Monday after an insider sold shares in the company. The company traded as low as $78.52 and last traded at $76.78. Approximately 182,250 shares traded hands during trading, a decline of 90% from the average daily volume of 1,889,847 shares. The stock had previously closed at $79.95.

Specifically, CFO Sara Bonstein sold 28,390 shares of the business's stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,296,751.00. Following the transaction, the chief financial officer now directly owns 155,506 shares of the company's stock, valued at approximately $12,580,435.40. The trade was a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO William Lewis sold 79,350 shares of the firm's stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $6,419,415.00. Following the completion of the sale, the chief executive officer now directly owns 453,894 shares of the company's stock, valued at $36,720,024.60. The trade was a 14.88 % decrease in their position. The disclosure for this sale can be found here. In other Insmed news, COO Roger Adsett sold 45,605 shares of the business's stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total transaction of $3,689,444.50. Following the transaction, the chief operating officer now directly owns 189,157 shares of the company's stock, valued at approximately $15,302,801.30. The trade was a 19.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of research reports. HC Wainwright reaffirmed a "buy" rating and set a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Guggenheim lifted their price objective on Insmed from $95.00 to $101.00 and gave the company a "buy" rating in a research report on Friday, February 7th. Morgan Stanley increased their target price on Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. JPMorgan Chase & Co. lifted their price target on Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Truist Financial reiterated a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $85.60.

Insmed Stock Performance

The company has a market capitalization of $14.09 billion, a PE ratio of -14.16 and a beta of 1.11. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The business's fifty day moving average is $73.23 and its two-hundred day moving average is $73.20.

Institutional Investors Weigh In On Insmed

Several large investors have recently bought and sold shares of the business. National Bank of Canada FI lifted its position in Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after purchasing an additional 147 shares during the period. CIBC Asset Management Inc lifted its holdings in shares of Insmed by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company's stock valued at $324,000 after buying an additional 149 shares during the period. Abel Hall LLC boosted its stake in shares of Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company's stock worth $230,000 after buying an additional 151 shares during the last quarter. Commerce Bank grew its holdings in shares of Insmed by 2.4% in the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company's stock worth $499,000 after acquiring an additional 163 shares during the period. Finally, Steward Partners Investment Advisory LLC lifted its holdings in Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares during the period.

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.