Cinctive Capital Management LP Decreases Stock Position in Insmed Incorporated (NASDAQ:INSM)

Cinctive Capital Management LP cut its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 17.8% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 25,252 shares of the biopharmaceutical company's stock after selling 5,454 shares during the quarter. Cinctive Capital Management LP's holdings in Insmed were worth $1,743,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of INSM. Steward Partners Investment Advisory LLC boosted its position in shares of Insmed by 65.2% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after purchasing an additional 163 shares in the last quarter. V Square Quantitative Management LLC boosted its holdings in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after acquiring an additional 248 shares in the last quarter. Spire Wealth Management purchased a new stake in shares of Insmed in the fourth quarter worth $47,000. Smartleaf Asset Management LLC increased its holdings in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock valued at $57,000 after acquiring an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new position in shares of Insmed in the 4th quarter worth about $86,000.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 2,978 shares of the company's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the completion of the transaction, the chief executive officer now directly owns 392,589 shares in the company, valued at $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Sara Bonstein sold 1,066 shares of Insmed stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.72, for a total transaction of $67,925.52. Following the transaction, the chief financial officer now owns 118,863 shares in the company, valued at approximately $7,573,950.36. This trade represents a 0.89 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 514,731 shares of company stock worth $40,530,912. 4.60% of the stock is owned by company insiders.

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Insmed Stock Performance

INSM stock traded down $3.43 during midday trading on Tuesday, reaching $64.66. 1,317,265 shares of the company's stock traded hands, compared to its average volume of 2,239,064. 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 $84.91. The stock has a market cap of $11.70 billion, a P/E ratio of -11.64 and a beta of 1.07. The stock's 50-day moving average is $77.59 and its 200 day moving average is $73.93.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to analysts' expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. As a group, analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have weighed in on INSM shares. Truist Financial raised their price objective on shares of Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research note on Friday, February 21st. Wells Fargo & Company raised their price target on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research report on Wednesday, February 19th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research report on Wednesday, February 19th. UBS Group lifted their target price on Insmed from $105.00 to $110.00 and gave the stock a "buy" rating in a report on Thursday, March 6th. Finally, JPMorgan Chase & Co. upped their price target on Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a report on Friday, February 7th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $94.00.

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.