Bellevue Group AG Sells 496,266 Shares of Insmed Incorporated (NASDAQ:INSM)

Bellevue Group AG trimmed its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 48.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 525,434 shares of the biopharmaceutical company's stock after selling 496,266 shares during the quarter. Bellevue Group AG owned 0.29% of Insmed worth $38,357,000 at the end of the most recent quarter.

A number of other institutional investors have also recently made changes to their positions in the stock. Comerica Bank increased its holdings in shares of Insmed by 3,984.1% during the first quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company's stock valued at $1,344,000 after acquiring an additional 48,327 shares in the last quarter. Transcend Capital Advisors LLC acquired a new position in Insmed during the second quarter worth $314,000. RVW Wealth LLC bought a new position in shares of Insmed in the second quarter valued at $284,000. CWM LLC grew its holdings in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company's stock valued at $105,000 after buying an additional 155 shares during the last quarter. Finally, Wealth Enhancement Advisory Services LLC bought a new stake in shares of Insmed during the second quarter worth about $256,000.

Insmed Stock Performance

Shares of INSM traded down $0.72 during mid-day trading on Friday, reaching $75.16. The company's stock had a trading volume of 719,651 shares, compared to its average volume of 1,594,521. 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 52 week low of $21.92 and a 52 week high of $80.53. The company's fifty day moving average price is $72.20 and its two-hundred day moving average price is $68.04.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. During the same quarter in the prior year, the business earned ($1.10) earnings per share. The company's revenue was up 18.1% on a year-over-year basis. On average, equities research analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INSM shares. UBS Group raised their price target 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. Truist Financial reaffirmed a "buy" rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a report on Friday, November 1st. StockNews.com cut shares of Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their target price on Insmed from $74.00 to $88.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, HC Wainwright reiterated a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat.com, Insmed currently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Insider Activity

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares of the company's stock, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares of the company's stock, valued at $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by company insiders.

Insmed Company Profile

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.