Essex Investment Management Co. LLC Sells 9,863 Shares of Insmed Incorporated (NASDAQ:INSM)

Essex Investment Management Co. LLC lowered its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 12.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 67,330 shares of the biopharmaceutical company’s stock after selling 9,863 shares during the quarter. Essex Investment Management Co. LLC’s holdings in Insmed were worth $4,648,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Jennison Associates LLC raised its holdings in Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock worth $53,424,000 after acquiring an additional 4,560 shares during the period. Capital CS Group LLC acquired a new stake in Insmed in the 4th quarter worth $586,000. Orion Portfolio Solutions LLC grew its position in Insmed by 48.5% in the 3rd quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after purchasing an additional 9,170 shares during the last quarter. Ally Bridge Group NY LLC grew its position in Insmed by 16.9% in the 3rd quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock worth $11,011,000 after purchasing an additional 21,833 shares during the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in Insmed in the 3rd quarter worth $35,322,000.

Analyst Upgrades and Downgrades

INSM has been the topic of several research analyst reports. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, February 21st. JPMorgan Chase & Co. raised their price target on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a research report on Friday, February 7th. Royal Bank of Canada began coverage on shares of Insmed in a research report on Tuesday, February 25th. They issued an “outperform” rating and a $100.00 price target on the stock. Truist Financial lifted their target price on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Finally, Stifel Nicolaus decreased their target price 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. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $93.33.

Insmed Trading Down 0.2 %

Shares of NASDAQ INSM opened at $74.89 on Friday. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $84.91. The company has a market cap of $13.56 billion, a PE ratio of -13.40 and a beta of 1.28. 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 50-day moving average of $75.66 and a two-hundred day moving average of $73.81.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates 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 company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. As a group, equities analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 2,978 shares of the business’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total transaction of $188,686.08. Following the completion of the sale, the chief executive officer now directly owns 392,589 shares of the company’s stock, valued at $24,874,439.04. The trade was a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction that occurred on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total transaction of $7,291,200.00. Following the sale, the insider now directly owns 97,083 shares of the company’s stock, valued at approximately $7,766,640. This trade represents a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 550,957 shares of company stock valued at $42,859,028. Insiders own 4.60% 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.