Exome Asset Management LLC Sells 23,200 Shares of Insmed Incorporated (NASDAQ:INSM)

Exome Asset Management LLC cut its holdings in Insmed Incorporated (NASDAQ:INSM) by 40.8% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 33,600 shares of the biopharmaceutical company’s stock after selling 23,200 shares during the period. Insmed accounts for 1.6% of Exome Asset Management LLC’s investment portfolio, making the stock its 26th largest holding. Exome Asset Management LLC’s holdings in Insmed were worth $2,453,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. V Square Quantitative Management LLC bought a new position in shares of Insmed in the third quarter worth $30,000. GAMMA Investing LLC boosted its stake in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. grew its holdings in Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 287 shares in the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares in the last quarter. Finally, CWM LLC boosted its position in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares during the period.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. 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. JPMorgan Chase & Co. raised their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 4.60% of the stock is owned by corporate insiders.

Insmed Price Performance

INSM stock opened at $71.63 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The firm has a 50-day moving average of $72.38 and a 200 day moving average of $71.16. The company has a market cap of $12.81 billion, a P/E ratio of -12.91 and a beta of 1.10.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. During the same period in the prior year, the company earned ($1.10) earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

Insmed 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.