Private Advisor Group LLC Sells 2,918 Shares of Insmed Incorporated (NASDAQ:INSM)

Private Advisor Group LLC cut its holdings in Insmed Incorporated (NASDAQ:INSM) by 34.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,659 shares of the biopharmaceutical company’s stock after selling 2,918 shares during the period. Private Advisor Group LLC’s holdings in Insmed were worth $413,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Clearbridge Investments LLC bought a new position in shares of Insmed in the first quarter valued at approximately $25,242,000. Kennedy Capital Management LLC bought a new position in shares of Insmed in the first quarter valued at approximately $267,000. Susquehanna Fundamental Investments LLC bought a new position in shares of Insmed in the first quarter valued at approximately $4,515,000. Russell Investments Group Ltd. grew its holdings in Insmed by 15,915.2% during the first quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after purchasing an additional 21,963 shares during the period. Finally, &PARTNERS bought a new position in Insmed during the second quarter valued at $300,000.

Insmed Stock Up 1.8 %

INSM opened at $69.30 on Wednesday. The company has a market cap of $11.91 billion, a P/E ratio of -12.49 and a beta of 1.12. The business’s 50-day moving average price is $72.73 and its 200-day moving average price is $62.38. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.10) EPS. On average, equities analysts expect that Insmed Incorporated will post -5.36 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on INSM. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Stifel Nicolaus increased their price objective on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. UBS Group increased their price objective on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.07.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction dated 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 owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at $7,157,150. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company’s stock.

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.