Picton Mahoney Asset Management Sells 34,001 Shares of Insmed, Inc. $INSM

Key Points

• Picton Mahoney Asset Management cut its stake by 39.7%, selling 34,001 shares of Insmed in Q3 and retaining 51,603 shares valued at $7.434 million.
• Insmed missed EPS estimates (reported ($1.54) vs. ($1.07) expected) while reporting revenue of ~$263.8M (up 152.6% YoY) and deep negative margins; the stock trades near $149.88 and carries a consensus Buy rating with an average target of $207.52.
• Company insiders sold a total of 178,952 shares worth $30.22 million in the last quarter, leaving insiders with roughly 3.00% ownership.

Picton Mahoney Asset Management lessened its stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 39.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 51,603 shares of the biopharmaceutical company's stock after selling 34,001 shares during the period. Picton Mahoney Asset Management's holdings in Insmed were worth $7,434,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of INSM. Stone House Investment Management LLC bought a new position in shares of Insmed in the third quarter worth $29,000. SBI Securities Co. Ltd. grew its stake in Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company's stock worth $30,000 after buying an additional 166 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Insmed by 59.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company's stock valued at $31,000 after buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. raised its position 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 in the last quarter. Finally, AlphaQuest LLC lifted its holdings in shares of Insmed by 109.5% during the 3rd quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company's stock worth $41,000 after acquiring an additional 150 shares during the period.

Insmed Trading Up 2.0%

Shares of INSM stock opened at $149.88 on Thursday. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The stock's fifty day simple moving average is $159.98 and its 200 day simple moving average is $165.37. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The firm has a market capitalization of $32.31 billion, a P/E ratio of -23.38 and a beta of 1.13.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing the consensus estimate of ($1.07) by ($0.47). The firm had revenue of $263.84 million during the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. Insmed's revenue for the quarter was up 152.6% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($1.32) earnings per share. As a group, sell-side analysts predict that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Royal Bank Of Canada lifted their price objective on shares of Insmed from $197.00 to $200.00 and gave the company an "outperform" rating in a research note on Wednesday, January 21st. Cantor Fitzgerald lifted their price target on Insmed from $216.00 to $230.00 and gave the company an "overweight" rating in a research note on Tuesday, December 16th. UBS Group dropped their price objective on Insmed from $223.00 to $215.00 and set a "buy" rating for the company in a research report on Tuesday, January 6th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Insmed in a research note on Thursday, January 22nd. Finally, Barclays started coverage on Insmed in a research note on Tuesday, January 27th. They set an "overweight" rating and a $231.00 target price for the company. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Buy" and an average target price of $207.52.

Insider Buying and Selling at Insmed

In other Insmed news, CFO Sara Bonstein sold 748 shares of the company's stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total value of $116,942.32. Following the completion of the transaction, the chief financial officer directly owned 79,758 shares in the company, valued at approximately $12,469,365.72. This represents a 0.93% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Alexander Smith sold 640 shares of Insmed stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total transaction of $100,012.80. Following the transaction, the insider owned 56,397 shares in the company, valued at approximately $8,813,159.19. This trade represents a 1.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,952 shares of company stock valued at $30,222,170 in the last quarter. 3.00% of the stock is currently owned by corporate insiders.

Insmed Profile

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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