Insmed Incorporated (NASDAQ:INSM) Shares Sold by Fred Alger Management LLC

Fred Alger Management LLC cut its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 14.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 385,460 shares of the biopharmaceutical company's stock after selling 66,856 shares during the period. Fred Alger Management LLC owned 0.22% of Insmed worth $26,612,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Jennison Associates LLC lifted its position in Insmed by 0.6% during the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock valued at $53,424,000 after purchasing an additional 4,560 shares during the last quarter. Capital CS Group LLC purchased a new stake in shares of Insmed during the 4th quarter valued at $586,000. Harbor Capital Advisors Inc. raised its position in shares of Insmed by 237.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company's stock valued at $4,115,000 after buying an additional 41,918 shares in the last quarter. abrdn plc lifted its holdings in shares of Insmed by 159.5% during the 4th quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company's stock worth $19,998,000 after acquiring an additional 178,041 shares during the last quarter. Finally, Moody Aldrich Partners LLC purchased a new position in shares of Insmed during the 4th quarter valued at about $2,449,000.

Insmed Trading Up 4.1%

Shares of NASDAQ:INSM traded up $2.67 during trading on Monday, reaching $67.75. 3,000,848 shares of the company were exchanged, compared to its average volume of 2,325,048. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $84.91. The business's fifty day simple moving average is $72.37 and its 200-day simple moving average is $73.28. The firm has a market capitalization of $12.32 billion, a PE ratio of -12.12 and a beta of 0.84. 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 (NASDAQ:INSM - Get Free Report) last announced 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). 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 the consensus estimate of $91.63 million. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. On average, research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Analyst Ratings Changes

Several equities research analysts have weighed in on INSM shares. JPMorgan Chase & Co. increased their price objective on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Wells Fargo & Company upped their price target on Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Morgan Stanley raised their price target on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a report on Thursday, February 6th. Guggenheim reaffirmed a "buy" rating and issued a $101.00 price target on shares of Insmed in a research report on Tuesday, February 25th. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Insmed currently has a consensus rating of "Moderate Buy" and an average price target of $93.93.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total value of $479,192.80. Following the sale, the chief executive officer now directly owns 233,924 shares of the company's stock, valued at approximately $16,412,107.84. This trade represents a 2.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 18,322 shares of Insmed stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the sale, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $9,545,887.53. This trade represents a 13.36% decrease in their position. The disclosure for this sale can be found here. Insiders sold 101,534 shares of company stock worth $7,932,633 in the last 90 days. Insiders own 3.00% of the company's stock.

Insmed 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.