Sowell Financial Services LLC Takes Position in Insmed, Inc. (NASDAQ:INSM)

Sowell Financial Services LLC purchased a new stake in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The fund purchased 3,346 shares of the biopharmaceutical company's stock, valued at approximately $255,000.

Several other large investors have also added to or reduced their stakes in INSM. Elequin Capital LP acquired a new stake in shares of Insmed during the fourth quarter worth about $28,000. Steward Partners Investment Advisory LLC raised its position in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 163 shares during the last quarter. NBC Securities Inc. acquired a new stake in Insmed during the 1st quarter valued at approximately $49,000. Versant Capital Management Inc lifted its stake in Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company's stock valued at $53,000 after acquiring an additional 590 shares during the period. Finally, Smartleaf Asset Management LLC boosted its holdings in shares of Insmed by 98.1% in the 4th 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 during the last quarter.

Insiders Place Their Bets

In related news, insider Martina M.D. Flammer sold 9,925 shares of the business's stock in a transaction dated Thursday, May 15th. The shares were sold at an average price of $65.47, for a total transaction of $649,789.75. Following the transaction, the insider now directly owns 86,596 shares in the company, valued at approximately $5,669,440.12. The trade was a 10.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 129,805 shares of the firm's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $100.39, for a total transaction of $13,031,123.95. Following the completion of the transaction, the chief executive officer now directly owns 233,924 shares in the company, valued at $23,483,630.36. This trade represents a 35.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 488,752 shares of company stock worth $43,199,826. Corporate insiders own 3.00% of the company's stock.

Insmed Price Performance

NASDAQ INSM traded down $1.05 on Wednesday, hitting $104.85. The company had a trading volume of 3,523,867 shares, compared to its average volume of 2,172,940. The company has a debt-to-equity ratio of 11.38, a current ratio of 5.86 and a quick ratio of 5.44. The company's fifty day moving average price is $76.88 and its 200-day moving average price is $75.15. The company has a market capitalization of $19.89 billion, a PE ratio of -17.62 and a beta of 0.80. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $106.84.

Insmed (NASDAQ:INSM - Get Free Report) last released its 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). The company had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The firm's revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.06) EPS. As a group, analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

INSM has been the subject of several recent research reports. Royal Bank Of Canada raised their target price on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Jefferies Financial Group reissued a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. Guggenheim restated a "buy" rating and issued a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Leerink Partners lifted their price target on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a research report on Tuesday, June 10th. Finally, Wells Fargo & Company boosted their price target on Insmed from $107.00 to $119.00 and gave the company an "overweight" rating in a report on Wednesday, June 11th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $106.80.

About Insmed

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.