Key Points
- Insmed insider Michael Alexander Smith sold 1,806 shares on June 22 at an average price of $95.82, totaling about $173,051. The trade was made under a pre-arranged Rule 10b5-1 plan.
- Smith has been actively selling Insmed stock in recent months, including larger sales on June 3, May 22, and March 30. After the latest transaction, he still owned 37,648 shares, worth about $3.61 million.
- Insmed recently beat quarterly expectations, reporting a smaller-than-expected loss and revenue above estimates, while analysts remain broadly positive with a consensus Moderate Buy rating and an average price target of $211.86.
Insmed, Inc. (NASDAQ:INSM - Get Free Report) insider Michael Alexander Smith sold 1,806 shares of Insmed stock in a transaction dated Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the sale, the insider owned 37,648 shares in the company, valued at approximately $3,607,431.36. This represents a 4.58% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael Alexander Smith also recently made the following trade(s):
- On Wednesday, June 3rd, Michael Alexander Smith sold 2,159 shares of Insmed stock. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93.
- On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The shares were 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 value of $2,964,945.24.
Insmed Stock Performance
Shares of NASDAQ INSM opened at $103.44 on Thursday. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The firm has a market cap of $22.42 billion, a P/E ratio of -17.99 and a beta of 0.79. The stock has a fifty day moving average price of $114.74 and a two-hundred day moving average price of $144.81. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47.
Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, topping analysts' consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company's quarterly revenue was up 229.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.42) EPS. Research analysts forecast that Insmed, Inc. will post -2.55 EPS for the current fiscal year.
Hedge Funds Weigh In On Insmed
A number of institutional investors have recently bought and sold shares of INSM. Empowered Funds LLC raised its holdings in Insmed by 32.6% during the 1st quarter. Empowered Funds LLC now owns 51,986 shares of the biopharmaceutical company's stock worth $8,501,000 after buying an additional 12,775 shares during the period. Defilade Capital Management L.P. boosted its holdings in shares of Insmed by 289.8% in the first quarter. Defilade Capital Management L.P. now owns 194,909 shares of the biopharmaceutical company's stock worth $31,872,000 after buying an additional 144,909 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Insmed by 13.1% in the first quarter. Parallel Advisors LLC now owns 2,291 shares of the biopharmaceutical company's stock worth $375,000 after buying an additional 266 shares during the period. NewEdge Advisors LLC increased its position in shares of Insmed by 133.0% in the first quarter. NewEdge Advisors LLC now owns 6,015 shares of the biopharmaceutical company's stock worth $984,000 after acquiring an additional 3,433 shares in the last quarter. Finally, NWI Management LP increased its position in shares of Insmed by 2.6% in the first quarter. NWI Management LP now owns 1,014,000 shares of the biopharmaceutical company's stock worth $165,809,000 after acquiring an additional 25,540 shares in the last quarter.
Wall Street Analysts Forecast Growth
Several brokerages have commented on INSM. Mizuho set a $192.00 price target on shares of Insmed in a research report on Tuesday, June 16th. Royal Bank Of Canada lowered their price objective 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. Morgan Stanley upgraded shares of Insmed from an "equal weight" rating to an "overweight" rating and boosted their target price for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Stifel Nicolaus raised their target price on shares of Insmed from $205.00 to $208.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Finally, Bank of America lifted their price target on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research report on Tuesday, March 24th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $211.86.
Check Out Our Latest Research Report on INSM
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.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
