Insmed Inc. (INSM) CFO Sells $660,150.00 in Stock
Insmed Inc. (NASDAQ:INSM) CFO Andrew T. Drechsler sold 45,000 shares of Insmed stock in a transaction on Monday, November 14th. The stock was sold at an average price of $14.67, for a total value of $660,150.00. Following the sale, the chief financial officer now owns 20,000 shares of the company’s stock, valued at $293,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Insmed Inc. (NASDAQ:INSM) opened at 14.84 on Friday. Insmed Inc. has a 1-year low of $9.02 and a 1-year high of $19.30. The stock’s market cap is $918.25 million. The firm has a 50-day moving average price of $13.80 and a 200 day moving average price of $12.35.
Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, November 3rd. The biopharmaceutical company reported ($0.61) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.59) by $0.02. On average, equities research analysts anticipate that Insmed Inc. will post ($2.57) EPS for the current fiscal year.
INSM has been the subject of several research analyst reports. Zacks Investment Research upgraded Insmed from a “sell” rating to a “hold” rating in a research report on Wednesday, August 17th. Piper Jaffray Cos. set a $24.00 price objective on Insmed and gave the company a “buy” rating in a report on Sunday, August 21st. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a report on Friday, November 4th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $19.20.
Several institutional investors have recently added to or reduced their stakes in the company. Emerald Acquisition Ltd. acquired a new position in Insmed during the third quarter worth $121,000. Pacad Investment Ltd. acquired a new position in Insmed during the second quarter worth $124,000. TFS Capital LLC acquired a new position in Insmed during the second quarter worth $137,000. Princeton Alpha Management LP boosted its position in Insmed by 56.0% in the third quarter. Princeton Alpha Management LP now owns 15,713 shares of the biopharmaceutical company’s stock worth $228,000 after buying an additional 5,638 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in Insmed by 18.9% in the third quarter. Wells Fargo & Company MN now owns 24,395 shares of the biopharmaceutical company’s stock worth $355,000 after buying an additional 3,882 shares in the last quarter. Institutional investors and hedge funds own 91.46% of the company’s stock.
Insmed Company Profile
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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