Insmed (NASDAQ:INSM) COO Sells 239,850 Shares

by · The Markets Daily

Insmed, Inc. (NASDAQ:INSM – Get Free Report) COO Roger Adsett sold 239,850 shares of the firm’s stock in a transaction on Monday, August 10th. The stock was sold at an average price of $133.27, for a total value of $31,964,809.50. Following the completion of the sale, the chief operating officer directly owned 98,744 shares of the company’s stock, valued at approximately $13,159,612.88. This trade represents a 70.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Roger Adsett also recently made the following trade(s):

  • On Wednesday, June 3rd, Roger Adsett sold 2,370 shares of Insmed stock. The shares were sold at an average price of $102.27, for a total value of $242,379.90.

Insmed Stock Down 0.2%

NASDAQ:INSM traded down $0.29 during trading hours on Wednesday, hitting $132.28. 1,563,164 shares of the company’s stock traded hands, compared to its average volume of 3,112,482. The stock’s fifty day moving average price is $106.29 and its two-hundred day moving average price is $128.64. The firm has a market cap of $28.89 billion, a P/E ratio of -32.18 and a beta of 0.81. The company has a debt-to-equity ratio of 0.74, a quick ratio of 3.40 and a current ratio of 3.72. Insmed, Inc. has a twelve month low of $90.39 and a twelve month high of $212.75.

Insmed (NASDAQ:INSM – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.67) by $0.61. The firm had revenue of $425.49 million during the quarter, compared to analyst estimates of $395.50 million. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The business’s quarterly revenue was up 296.1% compared to the same quarter last year. During the same period last year, the company posted ($1.70) EPS. On average, research analysts expect that Insmed, Inc. will post -2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Insmed

Several hedge funds have recently bought and sold shares of INSM. Norges Bank bought a new stake in Insmed during the fourth quarter valued at about $506,625,000. RTW Investments LP increased its stake in shares of Insmed by 57.0% in the fourth quarter. RTW Investments LP now owns 4,842,879 shares of the biopharmaceutical company’s stock worth $842,855,000 after purchasing an additional 1,758,321 shares during the period. Orbis Allan Gray Ltd bought a new position in shares of Insmed in the second quarter worth about $153,389,000. Bank of New York Mellon Corp acquired a new position in shares of Insmed during the 2nd quarter worth about $139,966,000. Finally, State Street Corp lifted its position in shares of Insmed by 30.6% during the 4th quarter. State Street Corp now owns 5,201,744 shares of the biopharmaceutical company’s stock worth $905,312,000 after purchasing an additional 1,217,390 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms have issued reports on INSM. UBS Group reiterated a “buy” rating and issued a $172.00 target price on shares of Insmed in a research report on Friday, August 7th. Royal Bank Of Canada dropped their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research note on Friday, June 5th. Truist Financial restated a “buy” rating and issued a $195.00 target price (up from $185.00) on shares of Insmed in a research note on Monday. BMO Capital Markets began coverage on Insmed in a research report on Monday, July 20th. They issued an “outperform” rating and a $192.00 target price on the stock. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $175.00 price target on shares of Insmed in a report on Thursday, August 6th. Two analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $205.52.

View Our Latest Analysis on Insmed

Insmed Company Profile

(Get Free Report)

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.

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