Insmed Incorporated (NASDAQ:INSM) COO Sells $161,181.80 in Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 2,444 shares of the company’s 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 completion of the transaction, the chief operating officer now directly owns 147,666 shares of the company’s stock, valued at $9,738,572.70. This trade represents a 1.63 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 Stock Down 0.7 %

Shares of NASDAQ:INSM opened at $65.25 on Friday. The company has a market cap of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. 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 200-day simple moving average is $72.42. 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 (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share 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 the consensus estimate of $93.36 million. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($1.10) earnings per share. As a group, equities research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. V Square Quantitative Management LLC acquired a new stake in Insmed in the third quarter valued at $30,000. GAMMA Investing LLC increased its holdings in shares of Insmed by 71.3% in the 3rd 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. Exchange Traded Concepts LLC lifted its stake in shares of Insmed by 522.5% in the third 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 period. Blue Trust Inc. boosted its holdings in Insmed by 2,348.8% during the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 1,879 shares in the last quarter. Finally, JCIC Asset Management Inc. acquired a new position in Insmed during the third quarter worth about $133,000.

Wall Street Analysts Forecast Growth

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