Insmed Incorporated (NASDAQ:INSM) Shares Sold by FORA Capital LLC

FORA Capital LLC reduced its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 20.0% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 55,580 shares of the biopharmaceutical company’s stock after selling 13,907 shares during the period. FORA Capital LLC’s holdings in Insmed were worth $4,057,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in INSM. Russell Investments Group Ltd. grew its holdings in shares of Insmed by 15,915.2% in 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. EntryPoint Capital LLC purchased a new stake in shares of Insmed in the 1st quarter valued at approximately $33,000. Kennedy Capital Management LLC acquired a new stake in shares of Insmed during the 1st quarter worth approximately $267,000. Comerica Bank raised its position in shares of Insmed by 3,984.1% during the 1st quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock valued at $1,344,000 after buying an additional 48,327 shares during the period. Finally, Transcend Capital Advisors LLC purchased a new position in Insmed in the second quarter worth approximately $314,000.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,882 shares of company stock valued at $5,765,446. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

INSM has been the topic of a number of research analyst reports. Bank of America lifted their target price on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $83.67.

Insmed Stock Down 0.5 %

NASDAQ INSM traded down $0.37 during trading hours on Wednesday, hitting $75.31. 121,308 shares of the company were exchanged, compared to its average volume of 2,226,617. 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 firm has a market cap of $13.47 billion, a price-to-earnings ratio of -13.64 and a beta of 1.12. The company has a 50 day moving average of $72.10 and a two-hundred day moving average of $67.28. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned ($1.10) EPS. Equities research analysts anticipate that Insmed Incorporated will post -5.42 earnings per share for the current year.

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.