Bellevue Group AG Reduces Holdings in Insmed Incorporated (NASDAQ:INSM)

Bellevue Group AG reduced its stake in Insmed Incorporated (NASDAQ:INSM) by 48.6% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 525,434 shares of the biopharmaceutical company’s stock after selling 496,266 shares during the quarter. Bellevue Group AG owned about 0.29% of Insmed worth $38,357,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of INSM. TimesSquare Capital Management LLC acquired a new position in Insmed during the 3rd quarter valued at approximately $35,322,000. &PARTNERS purchased a new stake in shares of Insmed during the second quarter valued at $300,000. Ally Bridge Group NY LLC increased its position in shares of Insmed by 16.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after acquiring an additional 21,833 shares during the period. Jennison Associates LLC raised its stake in Insmed by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock worth $56,155,000 after acquiring an additional 24,973 shares during the last quarter. Finally, WCM Investment Management LLC lifted its position in Insmed by 58.6% during the 3rd quarter. WCM Investment Management LLC now owns 148,330 shares of the biopharmaceutical company’s stock worth $10,751,000 after acquiring an additional 54,806 shares during the period.

Insmed Stock Performance

Shares of INSM stock opened at $75.16 on Friday. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The business’s 50 day moving average is $72.20 and its two-hundred day moving average is $68.04.

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 analysts’ consensus estimates 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. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.10) EPS. On average, equities analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the company. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. raised their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Finally, Stifel Nicolaus upped their price target on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.67.

Insider Buying and Selling at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 over the last ninety days. Corporate 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.