Michael Alexander Smith Sells 1,448 Shares of Insmed Incorporated (NASDAQ:INSM) Stock

Insmed Incorporated (NASDAQ:INSM - Get Free Report) insider Michael Alexander Smith sold 1,448 shares of Insmed stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $71.50, for a total value of $103,532.00. Following the transaction, the insider now directly owns 69,597 shares of the company's stock, valued at approximately $4,976,185.50. This represents a 2.04% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

• On Wednesday, May 14th, Michael Alexander Smith sold 409 shares of Insmed stock. The stock was sold at an average price of $65.61, for a total value of $26,834.49.
• On Tuesday, May 13th, Michael Alexander Smith sold 4,407 shares of Insmed stock. The stock was sold at an average price of $67.81, for a total transaction of $298,838.67.

Insmed Stock Up 0.9%

NASDAQ INSM traded up $0.66 during trading on Friday, reaching $73.40. The company's stock had a trading volume of 631,076 shares, compared to its average volume of 2,071,260. The business has a 50-day moving average price of $69.25 and a 200-day moving average price of $73.03. Insmed Incorporated has a 1-year low of $55.74 and a 1-year high of $84.91. The stock has a market capitalization of $13.37 billion, a PE ratio of -13.12 and a beta of 0.80. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same period in the previous year, the business posted ($1.06) earnings per share. The firm's revenue was up 22.9% on a year-over-year basis. On average, research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Insmed in a research report on Monday, May 12th. Guggenheim reissued a "buy" rating and issued a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Finally, Truist Financial boosted their target price on shares of Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.73.

Institutional Trading of Insmed

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Strs Ohio acquired a new stake in Insmed in the 1st quarter worth $1,961,000. Intech Investment Management LLC raised its holdings in Insmed by 43.2% in the 1st quarter. Intech Investment Management LLC now owns 101,979 shares of the biopharmaceutical company's stock valued at $7,780,000 after acquiring an additional 30,752 shares in the last quarter. Bayforest Capital Ltd lifted its position in shares of Insmed by 255.0% in the 1st quarter. Bayforest Capital Ltd now owns 7,054 shares of the biopharmaceutical company's stock worth $538,000 after acquiring an additional 5,067 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Insmed by 10.8% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 539,484 shares of the biopharmaceutical company's stock worth $41,157,000 after purchasing an additional 52,637 shares in the last quarter. Finally, Woodline Partners LP increased its position in shares of Insmed by 53.3% during the first quarter. Woodline Partners LP now owns 248,770 shares of the biopharmaceutical company's stock valued at $18,979,000 after purchasing an additional 86,540 shares during the period.

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.