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

Quest Partners LLC lessened its position in Insmed Incorporated (NASDAQ:INSM) by 62.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 459 shares of the biopharmaceutical company’s stock after selling 769 shares during the quarter. Quest Partners LLC’s holdings in Insmed were worth $34,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Darwin Global Management Ltd. purchased a new stake in shares of Insmed during the second quarter worth $237,076,000. Principal Financial Group Inc. lifted its position in shares of Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Clearbridge Investments LLC grew its stake in shares of Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after purchasing an additional 714,539 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Insmed by 36.7% during the second quarter. Hood River Capital Management LLC now owns 1,315,392 shares of the biopharmaceutical company’s stock worth $88,131,000 after purchasing an additional 352,891 shares during the last quarter. Finally, Assenagon Asset Management S.A. boosted its holdings in shares of Insmed by 119.2% in the 3rd quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock valued at $62,587,000 after buying an additional 466,306 shares in the last quarter.

Insmed Stock Down 0.9 %

INSM stock opened at $75.16 on Monday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The firm has a market cap of $13.45 billion, a PE ratio of -13.54 and a beta of 1.12. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The firm has a 50 day simple moving average of $72.20 and a 200 day simple moving average of $68.34.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the prior year, the company earned ($1.10) EPS. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. Equities research analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their position. 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 business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This represents a 29.12 % 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. Insiders own 4.60% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Bank of America lifted their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen lifted their target price on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. UBS Group lifted their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

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.