GTS Securities LLC Cuts Holdings in Insmed Incorporated (NASDAQ:INSM)

GTS Securities LLC cut its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 71.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,229 shares of the biopharmaceutical company's stock after selling 8,171 shares during the period. GTS Securities LLC's holdings in Insmed were worth $223,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. Jennison Associates LLC grew its position in Insmed by 0.6% during the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock valued at $53,424,000 after buying an additional 4,560 shares during the period. abrdn plc boosted its stake in shares of Insmed by 159.5% during the 4th quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company's stock worth $19,998,000 after acquiring an additional 178,041 shares in the last quarter. China Universal Asset Management Co. Ltd. raised its holdings in Insmed by 14.8% in the 4th quarter. China Universal Asset Management Co. Ltd. now owns 37,934 shares of the biopharmaceutical company's stock worth $2,619,000 after purchasing an additional 4,882 shares during the period. Allspring Global Investments Holdings LLC grew its holdings in Insmed by 8.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company's stock valued at $29,590,000 after purchasing an additional 32,960 shares during the period. Finally, Waldron Private Wealth LLC purchased a new stake in shares of Insmed in the fourth quarter valued at approximately $608,000.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on INSM shares. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. Bank of America lifted their target price on shares of Insmed from $92.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. HC Wainwright restated a "buy" rating and set a $90.00 price target on shares of Insmed in a research report on Monday, May 12th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. Finally, Truist Financial boosted their price objective on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $96.73.

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 9,925 shares of Insmed stock in a transaction on Thursday, May 15th. The stock was sold at an average price of $65.47, for a total value of $649,789.75. Following the completion of the sale, the insider now directly owns 86,596 shares of the company's stock, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO William Lewis sold 6,830 shares of the business's stock in a transaction on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at $16,412,107.84. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 134,348 shares of company stock valued at $9,265,629 over the last 90 days. 3.00% of the stock is owned by company insiders.

Insmed Trading Up 2.8%

Shares of NASDAQ INSM traded up $1.95 during midday trading on Monday, reaching $71.68. 2,452,495 shares of the stock were exchanged, compared to its average volume of 2,102,349. The stock has a market capitalization of $13.06 billion, a P/E ratio of -12.82 and a beta of 0.84. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a 50 day simple moving average of $69.60 and a 200 day simple moving average of $72.95. Insmed Incorporated has a twelve month low of $54.71 and a twelve month high of $84.91.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing analysts' consensus estimates of ($1.36) by ($0.06). The business had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.06) earnings per share. As a group, equities analysts expect that Insmed Incorporated will post -4.56 earnings per share 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.