Oak Ridge Investments LLC Sells 2,638 Shares of Insmed Incorporated (NASDAQ:INSM)

Oak Ridge Investments LLC cut its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 2.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 95,907 shares of the biopharmaceutical company’s stock after selling 2,638 shares during the quarter. Oak Ridge Investments LLC’s holdings in Insmed were worth $3,266,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. WCM Investment Management LLC raised its stake in shares of Insmed by 0.3% during the fourth quarter. WCM Investment Management LLC now owns 156,079 shares of the biopharmaceutical company’s stock worth $5,196,000 after acquiring an additional 499 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of Insmed by 5.8% during the fourth quarter. Victory Capital Management Inc. now owns 11,775 shares of the biopharmaceutical company’s stock worth $392,000 after acquiring an additional 644 shares in the last quarter. Baillie Gifford & Co. purchased a new position in shares of Insmed during the fourth quarter worth approximately $25,000. Penserra Capital Management LLC raised its stake in shares of Insmed by 169.6% during the fourth quarter. Penserra Capital Management LLC now owns 2,335 shares of the biopharmaceutical company’s stock worth $77,000 after acquiring an additional 1,469 shares in the last quarter. Finally, Aperio Group LLC raised its stake in shares of Insmed by 10.5% during the fourth quarter. Aperio Group LLC now owns 16,171 shares of the biopharmaceutical company’s stock worth $538,000 after acquiring an additional 1,541 shares in the last quarter.

In other news, CEO William Lewis sold 50,000 shares of the business’s stock in a transaction on Tuesday, March 16th. The shares were sold at an average price of $36.19, for a total transaction of $1,809,500.00. Following the sale, the chief executive officer now owns 229,608 shares in the company, valued at approximately $8,309,513.52. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 4.63% of the company’s stock.

Several brokerages recently commented on INSM. Zacks Investment Research downgraded shares of Insmed from a “buy” rating to a “hold” rating in a research note on Tuesday, May 11th. Morgan Stanley decreased their target price on shares of Insmed from $58.00 to $56.00 and set an “overweight” rating on the stock in a research note on Monday, May 10th. One investment analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. Insmed currently has a consensus rating of “Buy” and a consensus price target of $51.38.

Shares of Insmed stock opened at $29.07 on Friday. The company has a current ratio of 6.16, a quick ratio of 5.52 and a debt-to-equity ratio of 1.86. The firm’s fifty day moving average is $29.78. The stock has a market cap of $3.01 billion, a P/E ratio of -9.20 and a beta of 2.27. Insmed Incorporated has a 12-month low of $23.95 and a 12-month high of $45.44.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 6th. The biopharmaceutical company reported ($0.89) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.91) by $0.02. The business had revenue of $40.21 million for the quarter, compared to the consensus estimate of $41.64 million. Insmed had a negative net margin of 190.36% and a negative return on equity of 103.03%. The company’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.74) EPS. As a group, sell-side analysts expect that Insmed Incorporated will post -3.29 EPS for the current fiscal 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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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