Royce & Associates LP Sells 32,671 Shares of Insmed, Inc. $INSM

Key Points

• Royce & Associates LP reduced its Insmed stake by 35.4% in the fourth quarter, selling 32,671 shares and ending with 59,705 shares valued at about $10.4 million.
• Wall Street remains broadly positive on Insmed, with 23 Buy ratings, one Strong Buy, and one Sell; the consensus rating is Moderate Buy and the average price target is $210.95.
• Insmed reported stronger-than-expected quarterly results, posting a smaller-than-expected loss of $0.76 per share and revenue of $305.96 million, up 229.7% year over year, even as insiders continued selling shares.

Royce & Associates LP lowered its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 35.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 59,705 shares of the biopharmaceutical company's stock after selling 32,671 shares during the period. Royce & Associates LP's holdings in Insmed were worth $10,391,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of INSM. Artisan Partners Limited Partnership boosted its holdings in shares of Insmed by 49.0% during the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company's stock valued at $711,076,000 after purchasing an additional 1,623,342 shares during the last quarter. Atika Capital Management LLC bought a new position in shares of Insmed during the 3rd quarter valued at about $13,681,000. iA Global Asset Management Inc. boosted its holdings in shares of Insmed by 15,973.5% during the 4th quarter. iA Global Asset Management Inc. now owns 26,682 shares of the biopharmaceutical company's stock valued at $4,644,000 after purchasing an additional 26,516 shares during the last quarter. Nordea Investment Management AB bought a new position in shares of Insmed during the 4th quarter valued at about $3,492,000. Finally, Keybank National Association OH boosted its holdings in shares of Insmed by 76.7% during the 3rd quarter. Keybank National Association OH now owns 16,716 shares of the biopharmaceutical company's stock valued at $2,407,000 after purchasing an additional 7,257 shares during the last quarter.

Analysts Set New Price Targets

Several research firms have commented on INSM. Mizuho increased their price objective on shares of Insmed from $204.00 to $206.00 and gave the company an "outperform" rating in a report on Wednesday, March 25th. Weiss Ratings reissued a "sell (d-)" rating on shares of Insmed in a report on Tuesday, April 21st. Raymond James Financial began coverage on shares of Insmed in a report on Friday, April 10th. They set an "outperform" rating and a $200.00 price objective for the company. Truist Financial lowered their price target on shares of Insmed from $205.00 to $185.00 and set a "buy" rating for the company in a report on Wednesday, May 13th. Finally, Bank of America increased their price target on shares of Insmed from $211.00 to $213.00 and gave the company a "buy" rating in a report on Tuesday, March 24th. 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 company. According to data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and an average target price of $210.95.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 6,149 shares of the firm's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $108.47, for a total value of $666,982.03. Following the completion of the sale, the insider owned 41,613 shares of the company's stock, valued at $4,513,762.11. This trade represents a 12.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO William Lewis sold 10,699 shares of the firm's stock in a transaction dated Thursday, April 16th. The stock was sold at an average price of $143.97, for a total transaction of $1,540,335.03. Following the completion of the sale, the chief executive officer directly owned 301,185 shares of the company's stock, 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. Insiders sold a total of 156,643 shares of company stock valued at $24,513,766 over the last 90 days. Insiders own 2.10% of the company's stock.

Insmed Stock Down 2.3%

Shares of NASDAQ INSM opened at $106.40 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company has a market cap of $23.06 billion, a P/E ratio of -18.50 and a beta of 0.89. Insmed, Inc. has a 1 year low of $65.56 and a 1 year high of $212.75. The firm has a 50-day simple moving average of $135.85 and a two-hundred day simple moving average of $159.04.

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

Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.