Insmed (NASDAQ:INSM) Trading Down 4% on Insider Selling

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

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

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on INSM shares. Guggenheim lifted their target price on shares of Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday. Truist Financial restated 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. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, Morgan Stanley raised their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Insmed Stock Performance

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 stock has a market capitalization of $13.98 billion, a PE ratio of -14.08 and a beta of 1.11. The firm’s 50-day simple moving average is $72.88 and its two-hundred day simple moving average is $73.09.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC bought a new position in Insmed in the 3rd quarter worth $30,000. GAMMA Investing LLC grew its position in shares of Insmed by 71.3% in 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 during the last quarter. Spire Wealth Management bought a new position in Insmed in the 4th quarter worth approximately $47,000. Finally, Exchange Traded Concepts LLC grew 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 worth $55,000 after acquiring an additional 627 shares during the last quarter.

Insmed Company Profile

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.