Insmed Incorporated (NASDAQ:INSM) CEO Sells $10,400,000.00 in Stock

Insmed Incorporated (NASDAQ:INSM) CEO William Lewis sold 400,000 shares of the stock in a transaction on Tuesday, June 25th. The shares were sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the completion of the transaction, the chief executive officer now directly owns 480,672 shares in the company, valued at $12,497,472. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink.

INSM stock traded up $0.35 during trading on Thursday, hitting $21.88. 1,319,760 shares of the company’s stock traded hands, compared to its average volume of 984,360. The stock has a market cap of $1.67 billion, a PE ratio of -5.25 and a beta of 2.82. The firm’s fifty day moving average price is $24.48. Insmed Incorporated has a 52 week low of $11.31 and a 52 week high of $33.13. The company has a quick ratio of 4.69, a current ratio of 4.82 and a debt-to-equity ratio of 2.48.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.02). The company had revenue of $21.90 million for the quarter, compared to analyst estimates of $19.61 million. As a group, equities analysts forecast that Insmed Incorporated will post -3.58 earnings per share for the current fiscal year.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Strs Ohio purchased a new stake in Insmed during the first quarter valued at about $75,000. Amundi Pioneer Asset Management Inc. acquired a new position in Insmed in the fourth quarter worth approximately $101,000. NumerixS Investment Technologies Inc bought a new stake in Insmed during the first quarter worth approximately $106,000. Millennium Management LLC bought a new stake in Insmed during the fourth quarter worth approximately $146,000. Finally, Amalgamated Bank bought a new stake in Insmed during the fourth quarter worth approximately $151,000.

Several research firms have recently commented on INSM. BidaskClub cut shares of Ames National from a “hold” rating to a “sell” rating in a research note on Wednesday. ValuEngine downgraded shares of Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a report on Wednesday. Zacks Investment Research downgraded shares of H&E Equipment Services from a “hold” rating to a “sell” rating in a report on Wednesday. Finally, HC Wainwright restated a “buy” rating and issued a $52.00 target price (up from $43.00) on shares of Insmed in a report on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the stock. Insmed has a consensus rating of “Buy” and an average price target of $36.63.

About Insmed

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.

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