Insmed (NASDAQ:INSM) CEO William Lewis Sells 10,699 Shares

Key Points

• Insmed CEO William Lewis sold 10,699 shares on July 9 at an average price of $117.40, generating about $1.26 million. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
• After the transaction, Lewis still held 259,058 shares valued at roughly $30.4 million, and the trade reduced his ownership by about 3.97%. The article also notes he has made several other stock sales in recent months.
• Insmed shares fell to $115.61 in Friday trading, while the company recently reported better-than-expected quarterly earnings with revenue up 229.7% year over year. Analysts remain generally bullish, with a consensus rating of “Moderate Buy” and an average price target of $211.

Insmed, Inc. (NASDAQ:INSM - Get Free Report) CEO William Lewis sold 10,699 shares of Insmed stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $117.40, for a total value of $1,256,062.60. Following the transaction, the chief executive officer directly owned 259,058 shares in the company, valued at approximately $30,413,409.20. The trade was a 3.97% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

William Lewis also recently made the following trade(s):

• On Thursday, June 25th, William Lewis sold 21,398 shares of Insmed stock. The stock was sold at an average price of $103.32, for a total transaction of $2,210,841.36.
• On Wednesday, June 3rd, William Lewis sold 7,605 shares of Insmed stock. The stock was sold at an average price of $102.27, for a total transaction of $777,763.35.
• On Thursday, April 16th, William Lewis sold 10,699 shares of Insmed stock. The shares were sold at an average price of $143.97, for a total transaction of $1,540,335.03.

Insmed Price Performance

Shares of INSM traded down $2.65 during mid-day trading on Friday, reaching $115.61. The stock had a trading volume of 2,931,464 shares, compared to its average volume of 3,114,308. The firm has a market cap of $25.06 billion, a price-to-earnings ratio of -20.11 and a beta of 0.78. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The business has a fifty day moving average of $107.60 and a 200 day moving average of $138.43. 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 announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the firm earned ($1.42) EPS. The company's revenue was up 229.7% on a year-over-year basis. Equities analysts predict that Insmed, Inc. will post -2.55 EPS for the current year.

Hedge Funds Weigh In On Insmed

Several institutional investors have recently bought and sold shares of the business. CIBC Private Wealth Group LLC raised its position in shares of Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 53 shares in the last quarter. CoreCap Advisors LLC purchased a new position in Insmed in the fourth quarter worth about $27,000. GraniteShares Advisors LLC purchased a new position in Insmed in the fourth quarter worth about $30,000. Reflection Asset Management bought a new stake in Insmed during the fourth quarter worth approximately $30,000. Finally, Raiffeisen Bank International AG bought a new stake in Insmed during the fourth quarter worth approximately $32,000.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Raymond James Financial assumed coverage on Insmed in a research report on Friday, April 10th. They issued an "outperform" rating and a $200.00 price objective on the stock. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a research note on Wednesday, June 10th. Jefferies Financial Group assumed coverage on Insmed in a research note on Monday, March 16th. They set a "buy" rating and a $228.00 target price on the stock. Bank of America boosted their price target on Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a report on Tuesday, March 24th. Finally, Roth Capital restated a "buy" rating on shares of Insmed in a research note on Monday, June 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and a consensus price target of $211.00.

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.

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