Sowell Financial Services LLC Buys New Stake in Insmed, Inc. (NASDAQ:INSM)

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

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC boosted its holdings in Insmed by 16.7% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company's stock valued at $288,000 after purchasing an additional 541 shares during the last quarter. Handelsbanken Fonder AB boosted its holdings in Insmed by 8.6% in the 1st quarter. Handelsbanken Fonder AB now owns 49,181 shares of the biopharmaceutical company's stock valued at $3,752,000 after purchasing an additional 3,900 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Insmed by 62.0% in the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company's stock valued at $77,000 after purchasing an additional 386 shares during the last quarter. Harbor Capital Advisors Inc. boosted its holdings in Insmed by 22.2% in the 1st quarter. Harbor Capital Advisors Inc. now owns 72,816 shares of the biopharmaceutical company's stock valued at $5,555,000 after purchasing an additional 13,216 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in Insmed by 38.7% in the 1st quarter. Park Avenue Securities LLC now owns 11,036 shares of the biopharmaceutical company's stock valued at $842,000 after purchasing an additional 3,081 shares during the last quarter.

Insmed Stock Up 3.2%

INSM traded up $3.22 during trading hours on Friday, hitting $102.68. 4,668,575 shares of the company's stock were exchanged, compared to its average volume of 2,164,388. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $102.81. The firm has a 50 day moving average of $74.81 and a 200 day moving average of $74.53. The firm has a market cap of $19.48 billion, a P/E ratio of -17.26 and a beta of 0.80. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 446.98% and a negative net margin of 265.93%. The business had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. During the same period in the previous year, the company earned ($1.06) earnings per share. Insmed's quarterly revenue was up 22.9% on a year-over-year basis. Analysts predict that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on INSM shares. Citigroup upgraded shares of Insmed to a "buy" rating in a report on Tuesday, June 10th. The Goldman Sachs Group upped their price objective on shares of Insmed from $100.00 to $112.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada upped their price objective on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. HC Wainwright upped their price objective on shares of Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Jefferies Financial Group restated a "buy" rating on shares of Insmed in a report on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $106.80.

Insider Buying and Selling at Insmed

In related news, insider Michael Alexander Smith sold 409 shares of the stock in a transaction 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 transaction, the insider now directly owns 91,794 shares of the company's stock, valued at $6,022,604.34. This trade represents a 0.44% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 129,805 shares of the stock in a transaction on Monday, June 16th. The shares were 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 have sold 430,987 shares of company stock valued at $37,320,504. Insiders own 3.00% of the company's stock.

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.