Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett Sells 4,902 Shares of Stock

Insmed Incorporated (NASDAQ:INSM) COO Roger Adsett sold 4,902 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.68, for a total value of $312,159.36. Following the completion of the sale, the chief operating officer now owns 147,539 shares in the company, valued at approximately $9,395,283.52. This represents a 3.22 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

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

• On Tuesday, January 7th, Roger Adsett sold 2,444 shares of Insmed stock. The stock was sold at an average price of $65.95, for a total value of $161,181.80.

Insmed Stock Performance

Shares of INSM stock opened at $65.25 on Friday. The company has a market capitalization of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53. The company’s 50-day moving average is $71.23 and its 200 day moving average is $72.42.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.10) earnings per share. Sell-side analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of INSM. Darwin Global Management Ltd. bought a new stake in Insmed in the 2nd quarter worth about $237,076,000. Vestal Point Capital LP grew its stake in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after acquiring an additional 850,000 shares during the period. Clearbridge Investments LLC raised its holdings in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the last quarter. Farallon Capital Management LLC bought a new position in Insmed during the second quarter valued at approximately $38,056,000. Finally, Fred Alger Management LLC purchased a new stake in Insmed in the second quarter worth approximately $33,404,000.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSM. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Truist Financial restated a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America upped their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.