New York Life Investment Management LLC Trims Holdings in Insmed, Inc. $INSM

Key Points

• New York Life Investment Management cut its Insmed stake by 93.4% in the fourth quarter, selling 17,916 shares and leaving it with 1,261 shares worth about $219,000.
• Insider selling has been notable, including recent share sales by insider Michael Alexander Smith and CEO William Lewis; over the last three months, insiders sold 150,494 shares valued at roughly $23.8 million.
• Despite the stock’s pullback, analysts remain mostly upbeat with a Moderate Buy consensus and average target price of about $210.95; Insmed also beat quarterly EPS and revenue estimates, with revenue up 229.7% year over year.

New York Life Investment Management LLC trimmed its stake in Insmed, Inc. (NASDAQ:INSM - Free Report) by 93.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 1,261 shares of the biopharmaceutical company's stock after selling 17,916 shares during the period. New York Life Investment Management LLC's holdings in Insmed were worth $219,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC raised its holdings in shares of Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company's stock valued at $26,000 after buying an additional 53 shares during the period. CoreCap Advisors LLC purchased a new stake in shares of Insmed in the 4th quarter valued at $27,000. SBI Securities Co. Ltd. raised its holdings in shares of Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock valued at $30,000 after buying an additional 166 shares during the period. GraniteShares Advisors LLC purchased a new stake in shares of Insmed in the 4th quarter valued at $30,000. Finally, Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Insmed by 169.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company's stock valued at $38,000 after buying an additional 151 shares during the period.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 19,638 shares of the stock in a transaction that occurred on Monday, March 30th. The shares were sold at an average price of $150.98, for a total value of $2,964,945.24. Following the sale, the insider directly owned 51,871 shares of the company's stock, valued at approximately $7,831,483.58. This represents a 27.46% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO William Lewis sold 10,699 shares of the stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $143.97, for a total value of $1,540,335.03. Following the completion of the transaction, the chief executive officer owned 301,185 shares in the company, valued at approximately $43,361,604.45. The trade was a 3.43% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 150,494 shares of company stock valued at $23,846,784. Insiders own 2.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on INSM. Roth Mkm reaffirmed a "buy" rating and set a $212.00 target price on shares of Insmed in a research note on Friday, April 17th. Morgan Stanley raised shares of Insmed from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $166.00 to $212.00 in a research note on Monday, March 30th. Bank of America upped their target price on shares of Insmed from $211.00 to $213.00 and gave the stock a "buy" rating in a research note on Tuesday, March 24th. Wells Fargo & Company cut their target price on shares of Insmed from $177.00 to $160.00 and set an "overweight" rating on the stock in a research note on Friday, May 8th. Finally, Guggenheim cut their target price on shares of Insmed from $230.00 to $226.00 and set a "buy" rating on the stock in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

Insmed Price Performance

Shares of NASDAQ INSM opened at $107.91 on Thursday. The stock's 50-day moving average is $139.24 and its two-hundred day moving average is $161.82. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 1-year low of $64.85 and a 1-year high of $212.75. The company has a market cap of $23.39 billion, a price-to-earnings ratio of -18.77 and a beta of 0.89.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating analysts' consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period in the prior year, the firm posted ($1.42) EPS. The company's quarterly revenue was up 229.7% compared to the same quarter last year. Analysts forecast that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company's principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.

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