Insmed Incorporated (NASDAQ:INSM) Shares Sold by Great Point Partners LLC

Great Point Partners LLC lessened its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 67.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 250,000 shares of the biopharmaceutical company’s stock after selling 525,585 shares during the period. Insmed comprises about 3.2% of Great Point Partners LLC’s portfolio, making the stock its 11th largest holding. Great Point Partners LLC owned 0.17% of Insmed worth $16,750,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Norges Bank acquired a new position in shares of Insmed in the fourth quarter worth about $45,029,000. UBS Group AG grew its position in Insmed by 145.6% during the 4th quarter. UBS Group AG now owns 300,181 shares of the biopharmaceutical company’s stock worth $9,303,000 after purchasing an additional 177,981 shares in the last quarter. Assetmark Inc. grew its position in Insmed by 23.3% during the 4th quarter. Assetmark Inc. now owns 5,915 shares of the biopharmaceutical company’s stock worth $183,000 after purchasing an additional 1,116 shares in the last quarter. Axiom Investors LLC DE acquired a new stake in Insmed during the 4th quarter valued at $1,860,000. Finally, Eagle Asset Management Inc. lifted its holdings in shares of Insmed by 5.7% in the fourth quarter. Eagle Asset Management Inc. now owns 548,633 shares of the biopharmaceutical company’s stock valued at $17,002,000 after purchasing an additional 29,555 shares in the last quarter.

Insmed Stock Down 3.2 %

INSM opened at $71.82 on Tuesday. The firm has a market cap of $10.67 billion, a P/E ratio of -13.73 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The business has a 50 day moving average price of $74.57 and a 200 day moving average price of $52.52. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53.

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

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated 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 directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last quarter. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on INSM. Evercore ISI increased their price objective on Insmed from $42.00 to $75.00 and gave the stock an “outperform” rating in a research note on Friday, June 21st. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Thursday, August 29th. The Goldman Sachs Group boosted their price objective on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, July 10th. Mizuho increased their target price on shares of Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research report on Friday, June 7th. Finally, Truist Financial lowered their price target on shares of Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a report on Monday, August 12th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $81.40.

About Insmed

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.