Insider Selling: Insmed Inc. (INSM) SVP Sells $821,849.30 in Stock
Insmed Inc. (NASDAQ:INSM) SVP Orlov S. Nicole Schaeffer sold 68,774 shares of the stock in a transaction dated Wednesday, November 9th. The stock was sold at an average price of $11.95, for a total value of $821,849.30. Following the sale, the senior vice president now owns 37,500 shares of the company’s stock, valued at $448,125. The sale was disclosed in a document filed with the SEC, which is available at the SEC website.
Insmed Inc. (NASDAQ:INSM) opened at 14.45 on Monday. Insmed Inc. has a 12 month low of $9.02 and a 12 month high of $19.30. The company has a 50-day moving average of $13.79 and a 200 day moving average of $12.28. The company’s market cap is $894.12 million.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing the consensus estimate of ($0.59) by $0.02. On average, equities analysts forecast that Insmed Inc. will post ($2.57) earnings per share for the current fiscal year.
A number of brokerages have weighed in on INSM. Piper Jaffray Cos. set a $24.00 price target on Insmed and gave the stock a “buy” rating in a report on Sunday, August 21st. Zacks Investment Research upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, October 19th. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Friday, November 4th. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $19.20.
Hedge funds have recently bought and sold shares of the company. Emerald Acquisition Ltd. acquired a new stake in Insmed during the third quarter valued at $121,000. Pacad Investment Ltd. acquired a new stake in Insmed during the second quarter valued at $124,000. TFS Capital LLC acquired a new stake in Insmed during the second quarter valued at $137,000. Princeton Alpha Management LP increased its stake in Insmed by 56.0% in the third quarter. Princeton Alpha Management LP now owns 15,713 shares of the biopharmaceutical company’s stock valued at $228,000 after buying an additional 5,638 shares in the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new stake in Insmed during the second quarter valued at $278,000. 91.46% of the stock is owned by institutional investors and hedge funds.
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
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