Insmed, Inc. insider Orlov Nicole Schaeffer sold 30,000 shares of the company’s stock on November 12, 2023, in a transaction valued at $5,820,000. The shares were sold at an average price of $194.00. Following this transaction, Schaeffer now directly holds 36,461 shares in Insmed, reflecting a 45.14% decrease in ownership.
The details of the transaction were disclosed in a legal filing with the Securities and Exchange Commission. Insmed’s shares opened at $193.22 on November 15, 2023. Over the past year, the stock has seen a low of $60.40 and a high of $197.45. Insmed currently has a market capitalization of $41.21 billion, with a price-to-earnings ratio of -33.84 and a beta of 1.05.
Recent Earnings and Analyst Ratings
On October 30, 2023, Insmed reported its quarterly earnings results, revealing an earnings per share (EPS) of ($1.75), which fell short of analysts’ consensus estimate of ($1.35) by $0.40. The company reported a negative net margin of 259.82% and a return on equity of -195.37%. Revenue for the quarter stood at $142.34 million, exceeding expectations of $114.33 million, and representing a 52.4% increase year-over-year.
Analysts have varied opinions on Insmed’s stock. Truist Financial recently raised its price target from $126.00 to $139.00 while maintaining a “buy” rating. Similarly, Royal Bank of Canada increased its target from $139.00 to $215.00, also rating the stock as “outperform.” Overall, 19 analysts have rated the stock with a “buy” rating, one has issued a hold rating, and one a sell rating. The average rating is classified as “Moderate Buy” with a consensus price target of $173.29, according to data from MarketBeat.com.
Institutional Investment Activity
Several institutional investors have recently adjusted their stakes in Insmed. Vanguard Group Inc. increased its holdings by 13.0% during the third quarter, now owning 19,935,820 shares worth approximately $2.87 billion. Price T. Rowe Associates Inc. also raised its stake by 1.7%, bringing its total to 12,923,541 shares valued at around $985.94 million.
In addition, Capital International Investors increased its position by 1.0%, now holding 7,553,853 shares worth approximately $1.09 billion. Artisan Partners Limited Partnership raised its stake by 49.0%, while Adage Capital Partners GP L.L.C. boosted its holdings by 109.2% during the first quarter.
Insmed, headquartered in the United States, focuses on developing therapies for serious and rare diseases. Its flagship product is ARIKAYCE® (amikacin liposome inhalation suspension), approved for treating Mycobacterium avium complex lung disease in patients with limited treatment options. The company’s commitment to innovative solutions positions it as a key player in the biopharmaceutical sector.
