Soros Fund Management LLC Sells 23,512 Shares of Insmed Incorporated (NASDAQ:INSM)

Soros Fund Management LLC lowered its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 4.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 455,089 shares of the biopharmaceutical company's stock after selling 23,512 shares during the period. Soros Fund Management LLC owned 0.25% of Insmed worth $31,419,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Steward Partners Investment Advisory LLC grew its stake 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 worth $29,000 after purchasing an additional 163 shares during the last quarter. V Square Quantitative Management LLC lifted its holdings in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the period. Spire Wealth Management bought a new stake in shares of Insmed in the 4th quarter valued at about $47,000. Smartleaf Asset Management LLC increased its stake 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 buying an additional 411 shares during the period. Finally, Venturi Wealth Management LLC acquired a new stake in shares of Insmed in the fourth quarter valued at about $86,000.

Insiders Place Their Bets

In related news, CEO William Lewis sold 6,830 shares of the company's stock in a transaction on Tuesday, April 15th. The stock was sold at an average price of $70.16, for a total transaction of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. This represents a 2.84 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Roger Adsett sold 45,605 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $3,689,444.50. Following the completion of the sale, the chief operating officer now directly owns 189,157 shares of the company's stock, valued at $15,302,801.30. The trade was a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 380,657 shares of company stock valued at $30,330,039. Corporate insiders own 3.00% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on INSM. HC Wainwright reiterated a "buy" rating and issued a $90.00 target price on shares of Insmed in a report on Tuesday, April 22nd. Morgan Stanley increased their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research report on Thursday, February 6th. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. Bank of America upped their price target on shares of Insmed from $92.00 to $96.00 and gave the company a "buy" rating in a research report on Thursday, March 20th. Finally, Truist Financial lifted their price objective on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One equities research 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 presently has an average rating of "Moderate Buy" and a consensus price target of $94.00.

Insmed Stock Up 0.9 %

INSM stock traded up $0.64 during midday trading on Thursday, reaching $72.64. 1,792,909 shares of the company's stock traded hands, compared to its average volume of 2,309,498. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm's fifty day moving average price is $73.67 and its 200-day moving average price is $73.51. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The company has a market cap of $13.21 billion, a price-to-earnings ratio of -12.99 and a beta of 1.07.

Insmed (NASDAQ:INSM - Get Free Report) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, sell-side analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

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.