Insmed, Inc. (NASDAQ:INSM – Get Free Report) insider Michael Alexander Smith sold 2,159 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $220,800.93. Following the transaction, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This trade represents a 5.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.
Michael Alexander Smith also recently made the following trade(s):
- On Friday, May 22nd, Michael Alexander Smith sold 6,149 shares of Insmed stock. The shares were sold at an average price of $108.47, for a total value of $666,982.03.
- On Monday, March 30th, Michael Alexander Smith sold 19,638 shares of Insmed stock. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24.
Insmed Price Performance
NASDAQ:INSM opened at $94.22 on Monday. The firm has a market capitalization of $20.42 billion, a PE ratio of -16.39 and a beta of 0.79. The stock has a 50 day moving average of $130.45 and a 200-day moving average of $154.65. Insmed, Inc. has a 52 week low of $70.57 and a 52 week high of $212.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.
Analysts Set New Price Targets
A number of equities analysts recently issued reports on INSM shares. Truist Financial decreased their price objective on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Raymond James Financial started coverage on Insmed in a research report on Friday, April 10th. They set an “outperform” rating and a $200.00 price objective for the company. Morgan Stanley upgraded Insmed from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Guggenheim reduced their target price on Insmed from $230.00 to $226.00 and set a “buy” rating for the company in a report on Friday, May 8th. Finally, Mizuho increased their target price on Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $210.50.
Check Out Our Latest Stock Analysis on Insmed
Hedge Funds Weigh In On Insmed
Several hedge funds have recently bought and sold shares of INSM. CoreCap Advisors LLC acquired a new stake in shares of Insmed in the fourth quarter valued at about $27,000. Reflection Asset Management bought a new stake in shares of Insmed in the fourth quarter valued at about $30,000. GraniteShares Advisors LLC bought a new stake in shares of Insmed in the fourth quarter valued at about $30,000. CIBC Private Wealth Group LLC lifted its stake in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares during the period. Finally, Raiffeisen Bank International AG bought a new position in Insmed during the fourth quarter worth about $32,000.
Insmed Company Profile
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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