Insmed (NASDAQ:INSM) Stock Price Down 4% After Insider Selling

Insmed Incorporated (NASDAQ:INSM) shares fell 4% during trading on Monday following insider selling activity. The company traded as low as $78.52 and last traded at $76.78. 182,250 shares changed hands during trading, a decline of 90% from the average session volume of 1,889,847 shares. The stock had previously closed at $79.95.

Specifically, CFO Sara Bonstein sold 28,390 shares of the business’s stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $2,296,751.00. Following the transaction, the chief financial officer now owns 155,506 shares of the company’s stock, valued at approximately $12,580,435.40. The trade was a 15.44 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis sold 79,350 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $6,419,415.00. Following the transaction, the chief executive officer now owns 453,894 shares in the company, valued at approximately $36,720,024.60. This trade represents a 14.88 % decrease in their position. The disclosure for this sale can be found here. In other news, COO Roger Adsett sold 45,605 shares of the stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total transaction of $3,689,444.50. Following the sale, the chief operating officer now directly owns 189,157 shares of the company’s stock, valued at $15,302,801.30. This represents a 19.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Analysts Set New Price Targets

Several analysts have weighed in on INSM shares. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Guggenheim raised their target price on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a report on Friday. Morgan Stanley upped their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Thursday, February 6th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. raised their price target on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $85.00.

Insmed Trading Down 2.3 %

The firm’s fifty day moving average is $72.88 and its 200-day moving average is $73.09. The firm has a market cap of $13.98 billion, a price-to-earnings ratio of -14.08 and a beta of 1.11. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Hedge Funds Weigh In On Insmed

Several institutional investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its position in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC purchased a new stake in shares of Insmed in the 3rd quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. Spire Wealth Management bought a new stake in Insmed in the fourth quarter worth $47,000. Finally, Exchange Traded Concepts LLC increased its stake in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 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.