Insmed Incorporated (NASDAQ:INSM) Position Trimmed by Profund Advisors LLC

Profund Advisors LLC decreased its holdings in Insmed Incorporated (NASDAQ:INSM) by 56.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,020 shares of the biopharmaceutical company’s stock after selling 29,923 shares during the quarter. Profund Advisors LLC’s holdings in Insmed were worth $1,542,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Capital International Investors purchased a new position in Insmed during the 1st quarter worth approximately $43,973,000. Norges Bank acquired a new position in Insmed during the fourth quarter valued at $45,029,000. Clearbridge Investments LLC purchased a new stake in Insmed in the 1st quarter worth about $25,242,000. Vestal Point Capital LP acquired a new stake in Insmed during the 4th quarter worth about $27,891,000. Finally, Fiera Capital Corp purchased a new position in Insmed during the 2nd quarter valued at about $40,570,000.

Insider Activity

In other news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,882 shares of company stock valued at $5,765,446. Insiders own 4.60% of the company’s stock.

Insmed Stock Performance

INSM opened at $71.82 on Tuesday. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. The stock’s 50 day moving average price is $74.57 and its two-hundred day moving average price is $52.52. The firm has a market capitalization of $10.67 billion, a P/E ratio of -13.73 and a beta of 1.11. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The company had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. The company’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.78) earnings per share. On average, equities analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have commented on INSM shares. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Mizuho lifted their target price on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, June 7th. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Thursday, August 29th. Finally, Stifel Nicolaus lifted their price objective on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $81.40.

Insmed Company Profile

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.