Insider Selling: Insmed Incorporated (NASDAQ:INSM) COO Sells 2,444 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 2,444 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.95, for a total value of $161,181.80. Following the sale, the chief operating officer now directly owns 147,666 shares of the company’s stock, valued at approximately $9,738,572.70. This trade represents a 1.63 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.

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

• On Friday, January 10th, Roger Adsett sold 4,902 shares of Insmed stock. The stock was sold at an average price of $63.68, for a total transaction of $312,159.36.

Insmed Price Performance

Shares of INSM opened at $65.25 on Monday. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The firm’s 50-day simple moving average is $71.23 and its two-hundred day simple moving average is $72.46. The stock has a market cap of $11.67 billion, a PE ratio of -11.76 and a beta of 1.12. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($1.10) EPS. Analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insmed

Several large investors have recently modified their holdings of INSM. V Square Quantitative Management LLC purchased a new stake in Insmed during the 3rd quarter valued at about $30,000. GAMMA Investing LLC lifted its stake in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 224 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after buying an additional 627 shares during the last quarter. Blue Trust Inc. increased its position in shares of Insmed by 2,348.8% during the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after acquiring an additional 1,879 shares in the last quarter. Finally, JCIC Asset Management Inc. purchased a new position in Insmed in the 3rd quarter worth approximately $133,000.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Bank of America increased their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, Truist Financial reissued a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

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.