Insmed, Inc. (NASDAQ: INSM) CEO William Lewis sold 3,223 shares of the company’s stock on January 8, 2024, in a transaction valued at approximately $561,349.91. This sale occurred at an average price of $174.17 per share, resulting in a 1.01% reduction in his total holdings. After this transaction, Lewis retained ownership of 315,407 shares, now valued at around $54.93 million. The transaction was disclosed in a filing with the U.S. Securities and Exchange Commission (SEC).
In addition to this recent sale, Lewis executed multiple trades in early January. On January 7, he sold 2,357 shares for about $412,639.99 at an average price of $175.07. The day prior, he sold 4,096 shares for approximately $709,959.68 at an average price of $173.33. Notably, on December 18, 2023, he sold 10,699 shares for $1.79 million at an average price of $166.97.
Insmed’s Market Performance and Analyst Ratings
Following the series of sales, Insmed’s stock traded down by $5.73 on January 8, reaching $170.27 during the session. The trading volume for the day was approximately 2.59 million shares, higher than the average of 2.14 million. Insmed’s market capitalization stands at $36.31 billion, with a price-to-earnings (PE) ratio of -27.51 and a beta of 1.08.
The company’s financial health is reflected in its ratios, boasting a debt-to-equity ratio of 0.59, a quick ratio of 4.34, and a current ratio of 4.63. Over the past year, Insmed stock has experienced a low of $60.40 and a high of $212.75.
Several institutional investors have made recent moves regarding their stakes in Insmed. For instance, CIBC Private Wealth Group LLC increased its holdings by 42.1% in the third quarter, acquiring an additional 53 shares, bringing its total to 179 shares valued at $26,000. Other notable investors include Stone House Investment Management LLC, which purchased a new position valued at $29,000, and SBI Securities Co. Ltd., which boosted its position by 404.9%.
Institutional Interest and Future Outlook
Market analysts have provided a range of forecasts for Insmed. Jefferies Financial Group set a price objective of $269.00, while The Goldman Sachs Group raised its target from $225.00 to $258.00, maintaining a “buy” rating. Other firms, including Cantor Fitzgerald and Morgan Stanley, have also adjusted their price targets, reflecting a generally positive outlook for the company.
The consensus rating for Insmed among analysts is classified as “Moderate Buy,” with a target price of $205.64. This outlook is bolstered by the potential impact of Insmed’s principal product, ARIKAYCE, an innovative treatment for pulmonary infections.
Despite these positive indicators, recent insider selling activity has raised concerns among investors, particularly as multiple senior executives have sold shares in close succession. This pattern can sometimes unsettle the market and lead to fluctuations in stock prices.
In addition to concerns regarding insider trading, Pomerantz LLP has initiated an investigation into claims on behalf of Insmed investors, which may contribute to uncertainty surrounding the stock.
Insmed continues to focus on developing therapies for rare diseases, with a commitment to improving treatment options available to patients facing significant health challenges. The company is headquartered in Bridgewater, New Jersey, and remains dedicated to advancing its research and development efforts to address difficult-to-treat illnesses.
