Insmed Incorporated (NASDAQ:INSM) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. cut its stake in Insmed Incorporated (NASDAQ:INSM) by 16.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 263,235 shares of the biopharmaceutical company’s stock after selling 51,455 shares during the period. Eagle Asset Management Inc.’s holdings in Insmed were worth $19,358,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new stake in Insmed in the 3rd quarter worth approximately $30,000. EntryPoint Capital LLC acquired a new stake in Insmed during the 1st quarter valued at approximately $33,000. GAMMA Investing LLC lifted its stake in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares during the period. First Horizon Advisors Inc. lifted its stake 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 acquiring an additional 287 shares during the period. Finally, Exchange Traded Concepts LLC lifted its stake in Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares during the period.

Insider Activity

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 sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the 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 completion of the transaction, 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. In the last quarter, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several brokerages have commented on INSM. TD Cowen lifted their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. UBS Group lifted their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Finally, Truist Financial restated a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insmed Stock Performance

Insmed stock opened at $73.15 on Friday. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a fifty day simple moving average of $72.07 and a 200-day simple moving average of $65.70. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released 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 for the quarter, compared to analyst estimates of $93.36 million. During the same period last year, the firm earned ($1.10) earnings per share. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Insmed Incorporated will post -5.42 EPS for the current year.

About Insmed

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.