CenterBook Partners LP Trims Position in Insmed Incorporated (NASDAQ:INSM)

CenterBook Partners LP lessened its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 88.5% during the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 9,391 shares of the biopharmaceutical company's stock after selling 71,945 shares during the period. CenterBook Partners LP's holdings in Insmed were worth $648,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC raised its stake in shares of Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after acquiring an additional 163 shares during the period. V Square Quantitative Management LLC lifted its stake 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 purchasing an additional 248 shares during the last quarter. Spire Wealth Management purchased a new position in shares of Insmed during the fourth quarter valued at approximately $47,000. Smartleaf Asset Management LLC raised its holdings in shares of Insmed by 98.1% in the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock worth $57,000 after buying an additional 411 shares during the period. Finally, Venturi Wealth Management LLC bought a new stake in shares of Insmed during the fourth quarter worth $86,000.

Insider Activity

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of the stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the transaction, the insider now directly owns 138,053 shares of the company's stock, valued at $11,168,487.70. This trade represents a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO William Lewis sold 18,750 shares of the company's stock in a transaction dated Monday, February 3rd. The stock was sold at an average price of $77.94, for a total transaction of $1,461,375.00. Following the transaction, the chief executive officer now owns 379,534 shares of the company's stock, valued at approximately $29,580,879.96. This trade represents a 4.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 471,797 shares of company stock valued at $37,621,239 in the last quarter. 3.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on INSM shares. Stifel Nicolaus decreased their price objective on shares of Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a report on Friday, February 21st. Truist Financial raised their price objective on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. Morgan Stanley upped their price objective on shares of Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Finally, Guggenheim reiterated a "buy" rating and set a $101.00 price objective on shares of Insmed in a research note on Tuesday, February 25th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and an average target price of $94.00.

Insmed Stock Performance

NASDAQ:INSM traded up $1.28 during trading hours on Thursday, hitting $71.48. 437,868 shares of the company were exchanged, compared to its average volume of 2,265,203. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company's 50 day moving average price is $75.60 and its 200-day moving average price is $73.60. 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 capitalization of $13.00 billion, a price-to-earnings ratio of -12.80 and a beta of 1.07.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $102.31 million. As a group, research analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

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.