Insmed Incorporated (NASDAQ:INSM) Position Reduced by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC lessened its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 24.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 114,360 shares of the biopharmaceutical company's stock after selling 36,473 shares during the quarter. Insmed comprises 6.6% of Ally Bridge Group NY LLC's holdings, making the stock its 3rd biggest position. Ally Bridge Group NY LLC owned 0.06% of Insmed worth $7,895,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Mercer Global Advisors Inc. ADV purchased a new position in shares of Insmed in the 4th quarter valued at approximately $227,000. Freestone Grove Partners LP acquired a new position in shares of Insmed in the 4th quarter valued at $524,000. One68 Global Capital LLC acquired a new stake in Insmed during the 4th quarter worth about $345,000. Comerica Bank increased its holdings in shares of Insmed by 175.0% in the fourth quarter. Comerica Bank now owns 170,780 shares of the biopharmaceutical company's stock valued at $11,791,000 after purchasing an additional 108,686 shares during the period. Finally, Darwin Global Management Ltd. raised its stake in shares of Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock worth $894,796,000 after purchasing an additional 2,463,261 shares during the last quarter.

Insmed Stock Performance

Shares of NASDAQ INSM traded down $0.34 during trading hours on Friday, reaching $72.30. The stock had a trading volume of 1,600,638 shares, compared to its average volume of 2,314,104. The firm has a 50-day moving average of $73.42 and a 200-day moving average of $73.45. The firm has a market cap of $13.15 billion, a price-to-earnings ratio of -12.93 and a beta of 1.07. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Equities research analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on INSM shares. UBS Group upped their price objective on shares of Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a report on Thursday, March 6th. HC Wainwright restated a "buy" rating and issued a $90.00 target price on shares of Insmed in a research note on Tuesday, April 22nd. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research report on Friday, February 7th. Finally, Truist Financial increased their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Insider Activity

In other Insmed news, CFO Sara Bonstein sold 18,322 shares of Insmed stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $80.31, for a total value of $1,471,439.82. Following the sale, the chief financial officer now owns 118,863 shares of the company's stock, valued at approximately $9,545,887.53. The trade was a 13.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The shares were sold at an average price of $77.94, for a total value of $1,461,375.00. Following the completion of the sale, the chief executive officer now directly owns 379,534 shares of the company's stock, valued at $29,580,879.96. This represents a 4.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 387,487 shares of company stock valued at $30,825,692. 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.