New York Life Investment Management LLC Sells 469 Shares of Insmed Incorporated (NASDAQ:INSM)

New York Life Investment Management LLC lessened its holdings in Insmed Incorporated (NASDAQ:INSM) by 2.6% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,875 shares of the biopharmaceutical company’s stock after selling 469 shares during the period. New York Life Investment Management LLC’s holdings in Insmed were worth $1,234,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INSM. V Square Quantitative Management LLC raised its position in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock worth $45,000 after purchasing an additional 248 shares in the last quarter. Spire Wealth Management acquired a new position in Insmed in the fourth quarter worth about $47,000. Venturi Wealth Management LLC acquired a new position in Insmed in the fourth quarter worth about $86,000. Quantbot Technologies LP acquired a new position in Insmed in the third quarter worth about $133,000. Finally, Avior Wealth Management LLC acquired a new position in Insmed in the fourth quarter worth about $157,000.

Analyst Ratings Changes

INSM has been the subject of several recent research reports. Stifel Nicolaus dropped their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Truist Financial raised their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Royal Bank of Canada began coverage on Insmed in a research report on Tuesday, February 25th. They set an “outperform” rating and a $100.00 price target on the stock. Finally, HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average target price of $91.60.

Insmed Trading Down 6.5 %

Shares of NASDAQ INSM opened at $76.29 on Tuesday. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91. The company has a market cap of $13.81 billion, a PE ratio of -13.65 and a beta of 1.11. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a 50-day moving average of $75.19 and a two-hundred day moving average of $73.80.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, equities analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the completion of the transaction, the insider now owns 97,083 shares in the company, valued at approximately $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the transaction, the chief executive officer now owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. This represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 532,207 shares of company stock valued at $41,400,465 over the last ninety days. Insiders own 4.60% of the company’s stock.

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.