William Lewis Sells 112,000 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 112,000 shares of the business’s stock in a transaction on Friday, October 27th. The stock was sold at an average price of $24.08, for a total value of $2,696,960.00. Following the transaction, the chief executive officer now owns 342,648 shares of the company’s stock, valued at approximately $8,250,963.84. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

Insmed Trading Down 0.3 %

NASDAQ:INSM opened at $24.99 on Thursday. The firm has a market capitalization of $3.58 billion, a price-to-earnings ratio of -4.74 and a beta of 1.48. Insmed Incorporated has a 1-year low of $16.04 and a 1-year high of $27.59. The business’s fifty day moving average price is $24.93 and its 200 day moving average price is $21.82.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($1.78) earnings per share for the quarter, missing the consensus estimate of ($1.10) by ($0.68). The business had revenue of $77.23 million for the quarter, compared to analyst estimates of $70.23 million. Insmed had a negative net margin of 257.69% and a negative return on equity of 3,789.32%. The firm’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.80) earnings per share. Equities analysts forecast that Insmed Incorporated will post -5.14 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Almanack Investment Partners LLC. acquired a new position in Insmed during the third quarter valued at $25,000. Pinebridge Investments L.P. purchased a new stake in shares of Insmed during the 2nd quarter worth about $25,000. State of Wyoming purchased a new stake in shares of Insmed during the 4th quarter worth about $31,000. RVW Wealth LLC purchased a new stake in shares of Insmed during the 3rd quarter worth about $53,000. Finally, Quantbot Technologies LP raised its stake in shares of Insmed by 2,170.4% during the 2nd quarter. Quantbot Technologies LP now owns 2,452 shares of the biopharmaceutical company’s stock worth $48,000 after purchasing an additional 2,344 shares in the last quarter.

Analyst Ratings Changes

INSM has been the subject of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $52.00 price objective on shares of Insmed in a report on Wednesday, September 6th. Cantor Fitzgerald restated an “overweight” rating and issued a $46.00 price objective on shares of Insmed in a report on Tuesday, September 19th. Evercore ISI upped their price objective on Insmed from $32.00 to $42.00 and gave the company an “outperform” rating in a report on Thursday, September 7th. Bank of America upped their price objective on Insmed from $35.00 to $37.00 and gave the company a “buy” rating in a report on Wednesday, September 6th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $41.00 target price on shares of Insmed in a report on Friday, August 4th. One investment analyst has rated the stock with a sell rating and ten have given a buy rating to the company. According to data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and an average price target of $41.45.

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.