Algert Global LLC Decreases Position in Insmed Incorporated (NASDAQ:INSM)

Algert Global LLC reduced its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 49.5% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 81,501 shares of the biopharmaceutical company's stock after selling 79,874 shares during the period. Algert Global LLC's holdings in Insmed were worth $5,950,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently added to or reduced their stakes in INSM. Kennedy Capital Management LLC acquired a new stake in shares of Insmed during the 1st quarter worth $267,000. Russell Investments Group Ltd. grew its stake in Insmed by 15,915.2% during the first quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company's stock worth $600,000 after buying an additional 21,963 shares in the last quarter. TimesSquare Capital Management LLC acquired a new position in shares of Insmed in the 3rd quarter valued at approximately $35,322,000. &PARTNERS acquired a new position in shares of Insmed in the 2nd quarter valued at approximately $300,000. Finally, Jennison Associates LLC lifted its holdings in shares of Insmed by 3.4% during the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company's stock worth $56,155,000 after acquiring an additional 24,973 shares during the period.

Insider Activity

In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company's stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business's stock in a transaction on 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. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 in the last quarter. 4.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INSM. TD Cowen upped their target price on Insmed from $75.00 to $98.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. StockNews.com cut Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. Finally, Truist Financial reiterated a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Insmed Trading Down 0.9 %

INSM traded down $0.66 during trading on Friday, reaching $73.15. 1,756,992 shares of the stock traded hands, compared to its average volume of 1,646,243. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock's 50-day moving average is $72.04 and its 200 day moving average is $66.31. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The stock has a market capitalization of $13.09 billion, a PE ratio of -13.18 and a beta of 1.12.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. Insmed's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.10) EPS. Equities analysts anticipate that Insmed Incorporated will post -5.42 earnings per share 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.