Insmed (NASDAQ:INSM) Insider Michael Alexander Smith Sells 2,159 Shares

Insmed, Inc. (NASDAQ:INSM) insider Michael Alexander Smith sold 2,159 shares of the company’s stock in a transaction on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total transaction of $220,800.93. Following the sale, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. The trade was a 5.19% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

Michael Alexander Smith also recently made the following trade(s):

• On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03.
• On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24.

Insmed Price Performance

NASDAQ INSM traded down $10.70 during trading hours on Friday, hitting $94.22. 7,955,757 shares of the company’s stock traded hands, compared to its average volume of 2,804,548. The company has a market capitalization of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 52-week low of $70.57 and a 52-week high of $212.75. The firm’s 50-day moving average is $131.53 and its 200-day moving average is $155.38.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping the consensus estimate of ($0.90) by $0.14. The business had revenue of $305.96 million for the quarter, compared to analysts’ expectations of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.42) EPS. Equities analysts forecast that Insmed, Inc. will post -2.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of INSM. CIBC Private Wealth Group LLC raised its stake in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after acquiring an additional 53 shares during the period. CoreCap Advisors LLC purchased a new position in shares of Insmed during the 4th quarter worth approximately $27,000. SBI Securities Co. Ltd. increased its holdings in Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after purchasing an additional 166 shares during the last quarter. GraniteShares Advisors LLC purchased a new stake in Insmed in the fourth quarter valued at approximately $30,000. Finally, Reflection Asset Management purchased a new stake in Insmed in the fourth quarter valued at approximately $30,000.

Wall Street Analyst Weigh In

INSM has been the subject of a number of recent research reports. Leerink Partners raised their target price on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Royal Bank Of Canada cut their price objective on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research report on Friday. Roth Mkm reaffirmed a “buy” rating and set a $212.00 target price on shares of Insmed in a research note on Friday, April 17th. Truist Financial decreased their target price on shares of Insmed from $205.00 to $185.00 and set a “buy” rating on the stock in a report on Wednesday, May 13th. Finally, Wells Fargo & Company cut their price target on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $210.50.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.