Lion Point Capital LP Sells 15,500 Shares of Insmed Incorporated (NASDAQ:INSM)

Lion Point Capital LP decreased its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 29.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 36,700 shares of the biopharmaceutical company's stock after selling 15,500 shares during the period. Insmed makes up approximately 13.3% of Lion Point Capital LP's investment portfolio, making the stock its biggest position. Lion Point Capital LP's holdings in Insmed were worth $2,534,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock valued at $1,257,838,000 after buying an additional 1,075,796 shares in the last quarter. Darwin Global Management Ltd. grew its position in 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 acquiring an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Insmed by 1.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company's stock worth $877,113,000 after acquiring an additional 123,429 shares during the last quarter. Capital International Investors raised its position in Insmed by 9.1% during the fourth quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company's stock valued at $491,357,000 after purchasing an additional 593,206 shares during the period. Finally, Geode Capital Management LLC raised its position in Insmed by 7.2% during the fourth quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company's stock valued at $282,243,000 after purchasing an additional 273,759 shares during the period.

Insider Buying and Selling

In related news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $27,079,091.58. This represents a 5.31% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 409 shares of the firm's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $65.61, for a total transaction of $26,834.49. Following the completion of the sale, the insider now directly owns 91,794 shares in the company, valued at approximately $6,022,604.34. This trade represents a 0.44% decrease in their position. The disclosure for this sale can be found here. Insiders sold 150,559 shares of company stock valued at $11,056,634 in the last three months. 3.00% of the stock is owned by corporate insiders.

Insmed Trading Up 2.5%

Shares of NASDAQ INSM traded up $1.61 during mid-day trading on Thursday, reaching $67.22. 1,283,588 shares of the company's stock were exchanged, compared to its average volume of 2,325,853. The company's 50-day moving average is $71.68 and its 200-day moving average is $73.12. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a market capitalization of $12.22 billion, a price-to-earnings ratio of -12.03 and a beta of 0.84.

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 net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $92.82 million for the quarter, compared to analysts' expectations of $91.63 million. During the same quarter last year, the business earned ($1.06) earnings per share. The business's revenue was up 22.9% compared to the same quarter last year. Analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently issued reports on INSM. Bank of America raised their price target on Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Truist Financial lifted their price target 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. Stifel Nicolaus reduced their price objective on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company raised their price objective on shares of Insmed from $85.00 to $107.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 19th. Finally, Royal Bank of Canada restated an "outperform" rating and set a $100.00 target price on shares of Insmed in a research report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $94.63.

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.