Point72 Asset Management L.P. Sells 5,552,949 Shares of Insmed Incorporated (NASDAQ:INSM)

Point72 Asset Management L.P. reduced its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 94.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 315,151 shares of the biopharmaceutical company's stock after selling 5,552,949 shares during the period. Point72 Asset Management L.P. owned approximately 0.18% of Insmed worth $23,006,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in INSM. V Square Quantitative Management LLC bought a new stake in shares of Insmed in the third quarter valued at about $30,000. GAMMA Investing LLC lifted its position in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 224 shares during the period. First Horizon Advisors Inc. grew its holdings in shares of Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 287 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock worth $55,000 after purchasing an additional 627 shares in the last quarter. Finally, CWM LLC increased its position 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 purchasing an additional 155 shares during the period.

Insider Buying and Selling at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the business's stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares of the company's stock, valued at $7,951,559.28. The trade was a 11.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 29.12 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

INSM has been the topic of a number of recent research reports. Bank of America lifted their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. Stifel Nicolaus raised their price target on shares of Insmed from $74.00 to $88.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. HC Wainwright reiterated a "buy" rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, November 1st. Finally, Truist Financial restated a "buy" rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, Insmed presently has a consensus rating of "Moderate Buy" and a consensus price target of $83.67.

Insmed Trading Up 0.1 %

INSM stock traded up $0.07 during trading on Friday, hitting $75.40. The company had a trading volume of 1,412,127 shares, compared to its average volume of 2,211,626. The firm has a 50-day moving average price of $72.37 and a 200-day moving average price of $69.45. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a market cap of $13.49 billion, a price-to-earnings ratio of -13.59 and a beta of 1.10.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the previous year, the business earned ($1.10) earnings per share. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

Insmed 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.