Alliancebernstein L.P. Sells 86,532 Shares of Insmed Incorporated (NASDAQ:INSM)

Alliancebernstein L.P. lessened its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 3.5% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,363,561 shares of the biopharmaceutical company's stock after selling 86,532 shares during the period. Alliancebernstein L.P. owned 1.32% of Insmed worth $163,180,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in INSM. Clearbridge Investments LLC boosted its position in shares of Insmed by 3.9% during the 4th quarter. Clearbridge Investments LLC now owns 1,878,450 shares of the biopharmaceutical company's stock valued at $129,688,000 after acquiring an additional 69,683 shares during the last quarter. Intrust Bank NA increased its holdings in shares of Insmed by 12.1% in the 4th quarter. Intrust Bank NA now owns 5,566 shares of the biopharmaceutical company's stock worth $384,000 after buying an additional 600 shares during the last quarter. Pictet Asset Management Holding SA increased its stake in Insmed by 5.2% in the fourth quarter. Pictet Asset Management Holding SA now owns 1,959,718 shares of the biopharmaceutical company's stock valued at $135,299,000 after acquiring an additional 96,377 shares during the last quarter. Norges Bank bought a new position in shares of Insmed during the 4th quarter valued at about $126,606,000. Finally, NEOS Investment Management LLC purchased a new position in shares of Insmed during the 4th quarter valued at about $734,000.

Analyst Upgrades and Downgrades

INSM has been the topic of several research reports. Stifel Nicolaus decreased their price target on shares of Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. Morgan Stanley raised their price objective on Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research note on Thursday, February 6th. Guggenheim reissued a "buy" rating and issued a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Insmed in a research note on Wednesday, March 19th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $94.00.

Remove Ads

Insmed Stock Down 5.7 %

INSM stock traded down $4.15 during trading on Friday, hitting $69.18. 3,123,325 shares of the stock traded hands, compared to its average volume of 2,236,652. The firm's 50 day moving average is $77.78 and its two-hundred day moving average is $73.97. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of -12.38 and a beta of 1.07.

Insmed (NASDAQ:INSM - Get Free Report) last released 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). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. On average, sell-side analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Buying and Selling

In related news, insider Martina M.D. Flammer sold 3,344 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the sale, the insider now directly owns 102,766 shares in the company, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sara Bonstein sold 1,066 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $63.72, for a total transaction of $67,925.52. Following the completion of the transaction, the chief financial officer now owns 118,863 shares in the company, valued at $7,573,950.36. The trade was a 0.89 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 532,207 shares of company stock valued at $41,683,028 over the last 90 days. Company insiders own 4.60% of the company's stock.

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.