Truist Financial Corp Sells 7,420 Shares of Insmed, Inc. $INSM

Truist Financial Corp lessened its position in Insmed, Inc. (NASDAQ:INSM) by 16.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 39,063 shares of the biopharmaceutical company’s stock after selling 7,420 shares during the period. Truist Financial Corp’s holdings in Insmed were worth $5,625,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Insmed in the 2nd quarter worth approximately $194,728,000. Orbis Allan Gray Ltd bought a new stake in shares of Insmed in the 2nd quarter worth $153,389,000. Qube Research & Technologies Ltd purchased a new position in shares of Insmed in the second quarter worth $108,898,000. HRT Financial LP bought a new position in shares of Insmed during the second quarter valued at $73,426,000. Finally, Alkeon Capital Management LLC bought a new position in shares of Insmed during the second quarter valued at $50,320,000.

Insmed Trading Up 2.1%

Shares of INSM stock opened at $157.16 on Wednesday. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75. The firm has a fifty day moving average price of $178.14 and a 200-day moving average price of $159.71. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. The company has a market cap of $33.52 billion, a price-to-earnings ratio of -25.39 and a beta of 1.11.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on INSM shares. Citigroup reissued an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Morgan Stanley lifted their price target on shares of Insmed from $157.00 to $162.00 and gave the stock an “equal weight” rating in a research note on Friday, January 30th. Barclays initiated coverage on shares of Insmed in a research report on Tuesday, January 27th. They set an “overweight” rating and a $231.00 price objective on the stock. Rothschild & Co Redburn initiated coverage on shares of Insmed in a research report on Thursday, December 4th. They issued a “buy” rating and a $263.00 target price for the company. Finally, Wedbush set a $203.00 price target on Insmed in a report on Thursday, December 18th. Three investment analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Insmed presently has an average rating of “Buy” and an average price target of $206.04.

Insider Buying and Selling

In related news, CEO William Lewis sold 10,699 shares of the business’s stock in a transaction that occurred on Tuesday, January 20th. The stock was sold at an average price of $158.93, for a total transaction of $1,700,392.07. Following the completion of the transaction, the chief executive officer directly owned 306,891 shares in the company, valued at approximately $48,774,186.63. The trade was a 3.37% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Sara Bonstein sold 1,447 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $174.17, for a total transaction of $252,023.99. Following the completion of the sale, the chief financial officer directly owned 80,506 shares of the company’s stock, valued at $14,021,730.02. This represents a 1.77% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 269,669 shares of company stock worth $49,310,335. Company insiders own 3.00% of the company’s stock.

Insmed Profile

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.