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

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

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Steward Partners Investment Advisory LLC grew its position in Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC boosted its stake in shares of Insmed by 60.3% in the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in shares of Insmed in the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC grew its holdings in shares of Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Insmed during the fourth quarter valued at approximately $86,000.

Analysts Set New Price Targets

INSM has been the topic of several research analyst reports. Bank of America boosted their price objective on Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Stifel Nicolaus cut their price target on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 21st. Truist Financial raised their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, February 21st. UBS Group lowered their price objective on shares of Insmed from $110.00 to $109.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. Finally, Wells Fargo & Company boosted their target price on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $94.63.

Insmed Stock Performance

Insmed stock traded up $1.09 during mid-day trading on Friday, reaching $67.25. The company's stock had a trading volume of 489,636 shares, compared to its average volume of 2,328,188. The firm's fifty day moving average price is $70.88 and its two-hundred day moving average price is $73.06. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $84.91. The company has a market capitalization of $12.25 billion, a P/E ratio of -12.05 and a beta of 0.84.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts' consensus estimates 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 company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same period in the previous year, the business earned ($1.06) earnings per share. Insmed's revenue was up 22.9% on a year-over-year basis. Sell-side analysts predict that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 409 shares of the company'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 transaction of $26,834.49. Following the sale, the insider now owns 91,794 shares of the company's stock, valued at approximately $6,022,604.34. This represents a 0.44% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $77.79, for a total transaction of $1,458,562.50. Following the completion of the sale, the chief executive officer now owns 334,186 shares in the company, valued at $25,996,328.94. This represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 153,098 shares of company stock valued at $10,724,192 in the last quarter. 3.00% of the stock is currently 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.