Hennion & Walsh Asset Management Inc. Sells 8,230 Shares of Insmed Incorporated (NASDAQ:INSM)

Hennion & Walsh Asset Management Inc. decreased its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 18.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 35,704 shares of the biopharmaceutical company's stock after selling 8,230 shares during the period. Hennion & Walsh Asset Management Inc.'s holdings in Insmed were worth $2,724,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in INSM. Darwin Global Management Ltd. grew its holdings in shares of Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock worth $894,796,000 after acquiring an additional 2,463,261 shares during the period. Norges Bank purchased a new position in shares of Insmed during the 4th quarter worth approximately $126,606,000. Vanguard Group Inc. grew its holdings in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after acquiring an additional 1,075,796 shares during the period. Brown Advisory Inc. purchased a new position in shares of Insmed during the 4th quarter worth approximately $45,773,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in shares of Insmed by 59.6% during the 4th quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company's stock worth $113,748,000 after acquiring an additional 615,000 shares during the period.

Analyst Upgrades and Downgrades

INSM has been the topic of a number of research analyst reports. Jefferies Financial Group started coverage on Insmed in a report on Tuesday, May 13th. They set a "buy" rating and a $105.00 target price on the stock. Stifel Nicolaus dropped their price target on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Bank of America boosted their price target on Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Royal Bank of Canada reissued an "outperform" rating and issued a $100.00 price target on shares of Insmed in a research report on Wednesday, March 19th. Finally, HC Wainwright reissued a "buy" rating and issued a $90.00 price target on shares of Insmed in a research report on Monday, May 12th. One research analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, Insmed currently has a consensus rating of "Moderate Buy" and a consensus price target of $97.79.

Insmed Stock Up 1.2%

INSM stock traded up $0.88 during midday trading on Friday, hitting $73.62. The company's stock had a trading volume of 1,558,246 shares, compared to its average volume of 2,072,016. The company has a market cap of $13.41 billion, a PE ratio of -13.17 and a beta of 0.80. Insmed Incorporated has a 12 month low of $56.03 and a 12 month high of $84.91. 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 firm's 50-day moving average is $69.28 and its 200-day moving average is $73.03.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The business had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The business's revenue was up 22.9% compared to the same quarter last year. During the same period last year, the company posted ($1.06) earnings per share. On average, equities research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 4,407 shares of the stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total transaction of $298,838.67. Following the transaction, the insider now directly owns 92,203 shares of the company's stock, valued at $6,252,285.43. This represents a 4.56% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $77.03, for a total value of $1,444,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares in the company, valued at $25,742,347.58. The trade was a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 162,994 shares of company stock valued at $11,320,938. 3.00% of the stock is owned by corporate insiders.

Insmed Company 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.