Royce & Associates LP Trims Stock Position in Insmed, Inc. $INSM

Royce & Associates LP cut its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 35.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 59,705 shares of the biopharmaceutical company’s stock after selling 32,671 shares during the quarter. Royce & Associates LP’s holdings in Insmed were worth $10,391,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of INSM. EverSource Wealth Advisors LLC increased its position in shares of Insmed by 65.6% during the second quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 263 shares during the period. First Trust Advisors LP increased its position in shares of Insmed by 80.8% during the second quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after acquiring an additional 21,176 shares during the period. Baird Financial Group Inc. purchased a new position in shares of Insmed during the second quarter worth approximately $2,589,000. Amundi increased its position in shares of Insmed by 21,194.4% during the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock worth $1,130,000 after acquiring an additional 11,445 shares during the period. Finally, Natixis purchased a new position in shares of Insmed during the second quarter worth approximately $1,072,000.

Insmed Trading Down 2.3%

Shares of NASDAQ INSM opened at $106.40 on Thursday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The stock has a market capitalization of $23.06 billion, a P/E ratio of -18.50 and a beta of 0.89. Insmed, Inc. has a 1-year low of $65.56 and a 1-year high of $212.75. The business has a fifty day moving average price of $135.85 and a 200 day moving average price of $159.04.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same period in the prior year, the business posted ($1.42) EPS. The firm’s quarterly revenue was up 229.7% on a year-over-year basis. Equities research analysts expect that Insmed, Inc. will post -2.52 EPS for the current fiscal year.

Insiders Place Their Bets

In other Insmed news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction on Thursday, March 19th. The shares were sold at an average price of $143.52, for a total value of $1,535,520.48. Following the transaction, the chief executive officer directly owned 301,185 shares of the company’s stock, valued at approximately $43,226,071.20. The trade was a 3.43% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 19,638 shares of Insmed stock in a transaction on Monday, March 30th. The stock was sold at an average price of $150.98, for a total transaction of $2,964,945.24. Following the completion of the transaction, the insider directly owned 51,871 shares in the company, valued at $7,831,483.58. This represents a 27.46% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 156,643 shares of company stock valued at $24,513,766. 2.10% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently commented on INSM. Roth Mkm reaffirmed a “buy” rating and set a $212.00 target price on shares of Insmed in a research report on Friday, April 17th. Mizuho lifted their price objective on shares of Insmed from $204.00 to $206.00 and gave the company an “outperform” rating in a report on Wednesday, March 25th. Jefferies Financial Group assumed coverage on Insmed in a report on Monday, March 16th. They set a “buy” rating and a $228.00 target price for the company. Barclays increased their target price on Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research report on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $210.95.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.