Polar Asset Management Partners Inc. Lowers Stake in Insmed Incorporated (NASDAQ:INSM)

Polar Asset Management Partners Inc. lessened its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 77.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,100 shares of the biopharmaceutical company's stock after selling 44,400 shares during the period. Polar Asset Management Partners Inc.'s holdings in Insmed were worth $904,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. National Bank of Canada FI raised its stake in shares of Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after acquiring an additional 147 shares in the last quarter. Abel Hall LLC raised its stake in shares of Insmed by 4.7% during the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company's stock valued at $230,000 after acquiring an additional 151 shares in the last quarter. Snowden Capital Advisors LLC raised its stake in shares of Insmed by 2.5% during the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock valued at $456,000 after acquiring an additional 158 shares in the last quarter. Steward Partners Investment Advisory LLC raised its stake in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares in the last quarter. Finally, M&T Bank Corp raised its stake in shares of Insmed by 5.6% during the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock valued at $217,000 after acquiring an additional 166 shares in the last quarter.

Insmed Stock Up 1.1%

NASDAQ INSM traded up $0.76 on Friday, hitting $69.97. The stock had a trading volume of 3,716,740 shares, compared to its average volume of 2,100,954. The business's fifty day moving average price is $69.60 and its 200 day moving average price is $72.95. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 52-week low of $54.71 and a 52-week high of $84.91. The stock has a market cap of $12.74 billion, a price-to-earnings ratio of -12.52 and a beta of 0.84.

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 (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $92.82 million during the quarter, compared to analysts' expectations of $91.63 million. During the same period in the prior year, the firm posted ($1.06) earnings per share. Insmed's revenue for the quarter was up 22.9% compared to the same quarter last year. Equities research analysts anticipate that Insmed Incorporated will post -4.56 earnings per share for the current year.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Morgan Stanley lifted their price target on shares of Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Guggenheim reissued a "buy" rating and issued a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. Bank of America boosted their price objective on shares of Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research note on Thursday, March 20th. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research note on Friday, February 7th. Finally, Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $96.73.

Insider Activity

In related news, CEO William Lewis sold 21,057 shares of Insmed stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $67.65, for a total transaction of $1,424,506.05. Following the completion of the transaction, the chief executive officer now directly owns 314,230 shares in the company, valued at approximately $21,257,659.50. This trade represents a 6.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 409 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $65.61, for a total value of $26,834.49. Following the completion of the transaction, the insider now directly owns 91,794 shares of the company's stock, valued at $6,022,604.34. The trade was a 0.44% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 153,098 shares of company stock valued at $10,724,192 over the last ninety days. 3.00% of the stock is currently owned by 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.