Roger Adsett Sells 88,060 Shares of Insmed (NASDAQ:INSM) Stock
by Scott Moore · The Cerbat GemInsmed, Inc. (NASDAQ:INSM – Get Free Report) COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $164.63, for a total transaction of $14,497,317.80. Following the transaction, the chief operating officer directly owned 106,810 shares in the company, valued at $17,584,130.30. This represents a 45.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Roger Adsett also recently made the following trade(s):
- On Tuesday, February 3rd, Roger Adsett sold 791 shares of Insmed stock. The stock was sold at an average price of $156.17, for a total transaction of $123,530.47.
- On Thursday, January 8th, Roger Adsett sold 2,059 shares of Insmed stock. The stock was sold at an average price of $174.17, for a total transaction of $358,616.03.
- On Wednesday, January 7th, Roger Adsett sold 802 shares of Insmed stock. The shares were sold at an average price of $175.07, for a total transaction of $140,406.14.
- On Tuesday, January 6th, Roger Adsett sold 1,429 shares of Insmed stock. The stock was sold at an average price of $173.33, for a total transaction of $247,688.57.
Insmed Stock Performance
Shares of NASDAQ:INSM remained flat at $162.43 during midday trading on Friday. 1,809,313 shares of the company were exchanged, compared to its average volume of 2,579,325. The stock has a market capitalization of $35.01 billion, a PE ratio of -25.34 and a beta of 1.10. The stock has a 50-day simple moving average of $150.18 and a 200 day simple moving average of $166.38. The company has a debt-to-equity ratio of 0.76, a quick ratio of 3.54 and a current ratio of 3.83. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75.
Insmed (NASDAQ:INSM – Get Free Report) last announced its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million during the quarter, compared to analysts’ expectations of $263.97 million. Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company’s revenue was up 152.6% compared to the same quarter last year. During the same period last year, the business posted ($1.32) EPS. Research analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.
Analyst Upgrades and Downgrades
INSM has been the topic of a number of recent analyst reports. Leerink Partners upped their price objective on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research report on Tuesday, March 24th. Cantor Fitzgerald boosted their price target on shares of Insmed from $216.00 to $230.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. The Goldman Sachs Group increased their price target on shares of Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a report on Monday, December 15th. Rothschild & Co Redburn set a $263.00 price objective on shares of Insmed in a research report on Thursday, December 4th. Finally, Guggenheim cut their target price on shares of Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have issued a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus target price of $212.67.
Read Our Latest Stock Report on INSM
Hedge Funds Weigh In On Insmed
Several hedge funds have recently made changes to their positions in INSM. EULAV Asset Management purchased a new position in shares of Insmed during the 3rd quarter worth approximately $12,961,000. Resolute Capital Asset Partners LLC bought a new stake in shares of Insmed during the second quarter valued at approximately $2,748,000. Artisan Partners Limited Partnership boosted its position in shares of Insmed by 49.0% during the third quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after purchasing an additional 1,623,342 shares in the last quarter. Nisa Investment Advisors LLC grew its stake in Insmed by 374.6% in the third quarter. Nisa Investment Advisors LLC now owns 10,466 shares of the biopharmaceutical company’s stock worth $1,507,000 after purchasing an additional 8,261 shares during the period. Finally, Atika Capital Management LLC purchased a new stake in Insmed in the third quarter worth $13,681,000.
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.