Insmed Incorporated (NASDAQ:INSM) Position Lessened by Rafferty Asset Management LLC

Rafferty Asset Management LLC decreased its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 20.2% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 180,913 shares of the biopharmaceutical company's stock after selling 45,887 shares during the period. Rafferty Asset Management LLC owned about 0.10% of Insmed worth $12,490,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC lifted its position in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares in the last quarter. V Square Quantitative Management LLC lifted its position in shares of Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 248 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Insmed in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC lifted its position in shares of Insmed by 98.1% in the fourth 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 in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in shares of Insmed in the fourth quarter valued at $86,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of several recent analyst reports. Bank of America increased their target price on Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. Jefferies Financial Group initiated coverage on Insmed in a research report on Tuesday, May 13th. They set a "buy" rating and a $105.00 target price on the stock. JPMorgan Chase & Co. increased their target price on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Finally, Morgan Stanley increased their target price on Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. One investment analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, Insmed presently has a consensus rating of "Moderate Buy" and an average target price of $94.63.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 18,750 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $77.79, for a total value of $1,458,562.50. Following the sale, the chief executive officer now owns 334,186 shares of the company's stock, valued at approximately $25,996,328.94. This trade represents a 5.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 9,925 shares of the firm's stock in a transaction that occurred on Thursday, May 15th. The stock was sold at an average price of $65.47, for a total value of $649,789.75. Following the completion of the sale, the insider now directly owns 86,596 shares in the company, valued at approximately $5,669,440.12. This trade represents a 10.28% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 125,211 shares of company stock worth $8,837,158. 3.00% of the stock is currently owned by corporate insiders.

Insmed Stock Up 0.9%

NASDAQ INSM traded up $0.63 during mid-day trading on Tuesday, reaching $68.51. 2,505,885 shares of the company's stock traded hands, compared to its average volume of 2,330,968. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91. The company has a fifty day simple moving average of $71.32 and a 200-day simple moving average of $73.13. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company has a market cap of $12.48 billion, a price-to-earnings ratio of -12.26 and a beta of 0.84.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share 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 business had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. During the same quarter last year, the business earned ($1.06) EPS. Insmed's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities research analysts expect that Insmed Incorporated will post -4.56 EPS for the current year.

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.