Insmed, Inc. $INSM Shares Sold by Van ECK Associates Corp

by · The Markets Daily

Van ECK Associates Corp reduced its stake in Insmed, Inc. (NASDAQ:INSM – Free Report) by 10.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 106,702 shares of the biopharmaceutical company’s stock after selling 13,084 shares during the period. Van ECK Associates Corp owned approximately 0.05% of Insmed worth $15,366,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Kingsview Wealth Management LLC boosted its position in shares of Insmed by 2.7% in the third quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after buying an additional 60 shares during the period. Choreo LLC grew its stake in shares of Insmed by 2.9% in the third quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock valued at $334,000 after buying an additional 65 shares in the last quarter. Spire Wealth Management raised its holdings in shares of Insmed by 11.5% during the 3rd quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 80 shares during the period. MassMutual Private Wealth & Trust FSB raised its holdings in shares of Insmed by 59.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 81 shares during the period. Finally, Moody Aldrich Partners LLC lifted its position in Insmed by 2.4% during the 3rd quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock worth $799,000 after acquiring an additional 132 shares in the last quarter.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on INSM shares. Jefferies Financial Group set a $269.00 price objective on shares of Insmed in a research report on Wednesday, December 10th. Leerink Partners reissued an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Citigroup restated an “outperform” rating on shares of Insmed in a research note on Thursday, December 18th. Roth Mkm raised shares of Insmed to a “strong-buy” rating in a report on Friday, January 23rd. Finally, The Goldman Sachs Group lifted their price target on shares of Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $207.52.

View Our Latest Research Report on Insmed

Insider Activity at Insmed

In other news, COO Roger Adsett sold 791 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $156.17, for a total value of $123,530.47. Following the completion of the sale, the chief operating officer owned 106,810 shares of the company’s stock, valued at approximately $16,680,517.70. The trade was a 0.74% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Sara Bonstein sold 748 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total transaction of $116,942.32. Following the completion of the sale, the chief financial officer owned 79,758 shares in the company, valued at approximately $12,469,365.72. This trade represents a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 189,651 shares of company stock valued at $31,784,545. Insiders own 3.00% of the company’s stock.

Insmed Stock Down 0.4%

INSM stock traded down $0.58 during midday trading on Friday, hitting $138.94. 236,326 shares of the company’s stock were exchanged, compared to its average volume of 2,426,794. The firm has a 50 day moving average price of $155.93 and a 200-day moving average price of $165.62. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $212.75. The stock has a market capitalization of $29.95 billion, a price-to-earnings ratio of -21.73 and a beta of 1.13. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76.

Insmed (NASDAQ:INSM – Get Free Report) last released its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The business had revenue of $263.84 million for the quarter, compared to analysts’ expectations of $263.97 million. During the same quarter last year, the company posted ($1.32) earnings per share. The business’s quarterly revenue was up 152.6% compared to the same quarter last year. On average, analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company Profile

(Free Report)

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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