Rice Hall James & Associates LLC reduced its position in shares of Insmed Incorporated (NASDAQ:INSM – Get Rating) by 1.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 276,149 shares of the biopharmaceutical company's stock after selling 4,977 shares during the period. Rice Hall James & Associates LLC owned approximately 0.23% of Insmed worth $6,490,000 at the end of the most recent quarter.
A number of other hedge funds have also recently bought and sold shares of the company. Neuberger Berman Group LLC grew its holdings in Insmed by 11.1% during the first quarter. Neuberger Berman Group LLC now owns 51,300 shares of the biopharmaceutical company's stock worth $1,206,000 after acquiring an additional 5,113 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Insmed by 190.2% during the first quarter. The Manufacturers Life Insurance Company now owns 171,521 shares of the biopharmaceutical company's stock worth $3,959,000 after acquiring an additional 112,407 shares during the period. Toroso Investments LLC acquired a new position in Insmed during the first quarter worth about $804,000. Walleye Capital LLC increased its stake in Insmed by 115.5% in the 1st quarter. Walleye Capital LLC now owns 106,962 shares of the biopharmaceutical company's stock worth $2,514,000 after purchasing an additional 57,325 shares in the last quarter. Finally, Weiss Multi Strategy Advisers LLC increased its stake in Insmed by 11.7% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 51,000 shares of the biopharmaceutical company's stock worth $1,199,000 after purchasing an additional 5,355 shares in the last quarter.
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A number of brokerages recently weighed in on INSM. Credit Suisse Group lifted their price target on Insmed to $58.00 in a research note on Tuesday, August 9th. Morgan Stanley dropped their price target on Insmed from $46.00 to $41.00 and set an "overweight" rating on the stock in a research note on Friday, July 15th. Finally, The Goldman Sachs Group dropped their price target on Insmed from $56.00 to $48.00 and set a "buy" rating on the stock in a research note on Tuesday, May 24th. One research analyst has rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $50.86.
Insmed Stock Up 1.0 %
NASDAQ INSM traded up $0.24 during trading on Wednesday, reaching $23.98. 14,490 shares of the company's stock were exchanged, compared to its average volume of 1,081,648. Insmed Incorporated has a fifty-two week low of $16.41 and a fifty-two week high of $34.44. The firm has a market capitalization of $2.88 billion, a PE ratio of -6.76 and a beta of 1.83. The company has a current ratio of 5.93, a quick ratio of 5.34 and a debt-to-equity ratio of 18.24. The company's fifty day simple moving average is $24.44 and its 200-day simple moving average is $22.55.Insmed (NASDAQ:INSM – Get Rating) last posted its earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.80) earnings per share for the quarter, topping the consensus estimate of ($0.89) by $0.09. The firm had revenue of $65.20 million during the quarter, compared to analyst estimates of $58.92 million. Insmed had a negative return on equity of 154.14% and a negative net margin of 188.04%. The company's revenue for the quarter was up 43.6% on a year-over-year basis. During the same period in the previous year, the company earned ($0.94) EPS. Sell-side analysts predict that Insmed Incorporated will post -3.4 EPS for the current year.
Insider Activity
In related news, CEO William Lewis sold 216,800 shares of the business's stock in a transaction on Monday, August 8th. The stock was sold at an average price of $27.84, for a total value of $6,035,712.00. Following the sale, the chief executive officer now owns 256,716 shares of the company's stock, valued at approximately $7,146,973.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. Over the last ninety days, insiders have sold 314,355 shares of company stock worth $8,279,853. Company insiders own 4.40% of the company's stock.
Insmed Profile
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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.
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