Tobam Sells 1,717 Shares of Insmed Incorporated (NASDAQ:INSM)

Tobam decreased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 27.0% during the 4th quarter, Holdings Channel reports. The fund owned 4,643 shares of the biopharmaceutical company’s stock after selling 1,717 shares during the quarter. Tobam’s holdings in Insmed were worth $321,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Vestal Point Capital LP raised its stake in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after buying an additional 850,000 shares during the period. TimesSquare Capital Management LLC bought a new stake in shares of Insmed in the third quarter worth about $35,322,000. Assenagon Asset Management S.A. raised its position in shares of Insmed by 119.2% during the third quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock worth $62,587,000 after purchasing an additional 466,306 shares during the period. Victory Capital Management Inc. grew its position in shares of Insmed by 209.9% in the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after purchasing an additional 308,819 shares during the period. Finally, Westfield Capital Management Co. LP acquired a new position in shares of Insmed in the 3rd quarter valued at approximately $18,377,000.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of Insmed stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the completion of the transaction, the insider now directly owns 138,053 shares of the company’s stock, valued at $11,168,487.70. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Roger Adsett sold 45,605 shares of the stock in a transaction dated Thursday, February 6th. The shares were sold at an average price of $80.90, for a total transaction of $3,689,444.50. Following the completion of the transaction, the chief operating officer now directly owns 189,157 shares in the company, valued at $15,302,801.30. The trade was a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 401,030 shares of company stock worth $30,993,629. Company insiders own 4.60% of the company’s stock.

Insmed Stock Performance

Shares of INSM opened at $79.95 on Friday. The company has a market cap of $14.30 billion, a PE ratio of -14.41 and a beta of 1.11. The firm has a 50-day moving average of $72.79 and a 200-day moving average of $73.10. Insmed Incorporated has a one year low of $21.92 and a one year high of $82.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of research reports. Guggenheim lifted their price target on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research note on Friday. Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, Morgan Stanley lifted their target price on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $85.00.

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.