Cinctive Capital Management LP Sells 114,851 Shares of Insmed Incorporated (NASDAQ:INSM)

Cinctive Capital Management LP reduced its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 78.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,706 shares of the biopharmaceutical company's stock after selling 114,851 shares during the period. Cinctive Capital Management LP's holdings in Insmed were worth $2,242,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Bamco Inc. NY acquired a new position in shares of Insmed during the third quarter valued at $2,956,000. Erste Asset Management GmbH acquired a new position in Insmed during the 3rd quarter valued at about $3,450,000. Eventide Asset Management LLC grew its position in Insmed by 34.2% in the 3rd quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company's stock worth $66,167,000 after purchasing an additional 231,210 shares during the last quarter. Captrust Financial Advisors grew its holdings in Insmed by 40.9% in the 3rd quarter. Captrust Financial Advisors now owns 6,280 shares of the biopharmaceutical company's stock worth $458,000 after buying an additional 1,824 shares in the last quarter. Finally, Vestal Point Capital LP increased its position in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock valued at $116,800,000 after acquiring an additional 850,000 shares during the period.

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company's stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares of the company's stock, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the business's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 over the last three months. Corporate insiders own 4.60% of the company's stock.

Analyst Upgrades and Downgrades

INSM has been the topic of several research analyst reports. TD Cowen raised their target price on shares of Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a research note on Friday, August 9th. HC Wainwright reissued a "buy" rating and set a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an "overweight" rating in a research report on Friday, November 22nd. Bank of America raised their price objective on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, StockNews.com lowered shares of Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

Insmed Trading Down 0.1 %

Insmed stock traded down $0.08 during trading hours on Tuesday, hitting $72.34. The stock had a trading volume of 507,663 shares, compared to its average volume of 2,214,753. 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 fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a 50-day moving average of $72.21 and a two-hundred day moving average of $68.68.

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 for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. The company's revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned ($1.10) earnings per share. Research analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current fiscal 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.