Profund Advisors LLC Reduces Stake in Insmed, Inc. $INSM

Profund Advisors LLC cut its stake in Insmed, Inc. (NASDAQ:INSM) by 41.8% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 11,373 shares of the biopharmaceutical company’s stock after selling 8,185 shares during the quarter. Profund Advisors LLC’s holdings in Insmed were worth $1,638,000 as of its most recent SEC filing.

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

Insider Transactions at Insmed

In related news, Director Elizabeth M. Anderson sold 10,000 shares of Insmed stock in a transaction that occurred on Friday, November 14th. The shares were sold at an average price of $195.87, for a total value of $1,958,700.00. Following the completion of the transaction, the director owned 63,729 shares in the company, valued at approximately $12,482,599.23. The trade was a 13.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $195.90, for a total transaction of $14,692,500.00. Following the sale, the director directly owned 54,677 shares in the company, valued at approximately $10,711,224.30. The trade was a 57.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 244,857 shares of company stock valued at $44,301,247. 3.00% of the stock is owned by insiders.

Insmed Trading Down 0.7%

Shares of NASDAQ INSM opened at $148.55 on Wednesday. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $31.68 billion, a PE ratio of -24.00 and a beta of 1.11. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The stock has a fifty day simple moving average of $172.50 and a 200-day simple moving average of $161.37.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on INSM. Citigroup reiterated an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. TD Cowen set a $241.00 price target on Insmed in a report on Thursday, December 18th. Morgan Stanley raised their price objective on Insmed from $157.00 to $162.00 and gave the stock an “equal weight” rating in a research report on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a report on Thursday, January 22nd. Finally, Roth Mkm raised shares of Insmed to a “strong-buy” rating in a research note on Friday, January 23rd. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $203.45.

Insmed Company 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.