PFM Health Sciences LP Sells 89,087 Shares of Insmed Incorporated (NASDAQ:INSM)

PFM Health Sciences LP reduced its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 36.9% in the third quarter, HoldingsChannel.com reports. The fund owned 152,228 shares of the biopharmaceutical company’s stock after selling 89,087 shares during the quarter. PFM Health Sciences LP’s holdings in Insmed were worth $11,113,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Insmed in the 3rd quarter worth $30,000. GAMMA Investing LLC raised its position in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. raised its position in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the period. Exchange Traded Concepts LLC raised its position in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Finally, CWM LLC raised its position in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on INSM. Truist Financial restated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Stifel Nicolaus boosted their price objective on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Bank of America boosted their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright restated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, UBS Group boosted their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insider Buying and Selling

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock valued at $5,765,446 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Insmed Trading Down 0.9 %

Shares of INSM opened at $75.16 on Friday. The firm’s 50-day moving average price is $72.20 and its 200-day moving average price is $67.74. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -13.54 and a beta of 1.12. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. During the same quarter last year, the firm earned ($1.10) earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Sell-side analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current 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.