SG Americas Securities LLC Lowers Holdings in Insmed Incorporated (NASDAQ:INSM)

SG Americas Securities LLC trimmed its position in Insmed Incorporated (NASDAQ:INSM) by 77.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,875 shares of the biopharmaceutical company’s stock after selling 16,686 shares during the period. SG Americas Securities LLC’s holdings in Insmed were worth $337,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in INSM. Vestal Point Capital LP raised its holdings in shares of Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares in the last quarter. TimesSquare Capital Management LLC bought a new position in shares of Insmed in the third quarter worth approximately $35,322,000. Assenagon Asset Management S.A. increased its position in shares of Insmed by 119.2% in the third quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock worth $62,587,000 after purchasing an additional 466,306 shares during the last quarter. Victory Capital Management Inc. raised its stake in Insmed by 209.9% in the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after purchasing an additional 308,819 shares in the last quarter. Finally, Westfield Capital Management Co. LP bought a new stake in Insmed during the third quarter valued at approximately $18,377,000.

Analyst Ratings Changes

A number of equities analysts have recently commented on the stock. Bank of America increased their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Truist Financial restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price objective on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average price target of $83.67.

Insmed Stock Up 4.0 %

Shares of NASDAQ INSM opened at $81.01 on Wednesday. The firm’s fifty day moving average is $72.58 and its 200 day moving average is $72.99. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $81.25. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company has a market cap of $14.49 billion, a price-to-earnings ratio of -14.60 and a beta of 1.11.

Insider Buying and Selling at Insmed

In related news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total value of $1,309,500.00. Following the sale, the chief executive officer now owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the transaction, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 195,880 shares of company stock worth $14,452,494. 4.60% of the stock is currently owned by company insiders.

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.