Novo Holdings A S Reduces Stock Position in Insmed Incorporated (NASDAQ:INSM)

Novo Holdings A S reduced its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 724,666 shares of the biopharmaceutical company's stock after selling 75,334 shares during the period. Insmed accounts for 2.6% of Novo Holdings A S's portfolio, making the stock its 12th largest position. Novo Holdings A S owned approximately 0.49% of Insmed worth $52,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of INSM. Clearbridge Investments LLC purchased a new position in Insmed during the 1st quarter valued at about $25,242,000. Kennedy Capital Management LLC purchased a new stake in shares of Insmed in the 1st quarter worth approximately $267,000. Susquehanna Fundamental Investments LLC bought a new position in Insmed during the 1st quarter valued at approximately $4,515,000. Russell Investments Group Ltd. raised its stake in Insmed by 15,915.2% during the first quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company's stock valued at $600,000 after buying an additional 21,963 shares during the last quarter. Finally, Requisite Capital Management LLC bought a new stake in Insmed in the first quarter worth $678,000.

Insiders Place Their Bets

In related news, insider Martina M.D. Flammer sold 13,436 shares of the company'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 approximately $7,951,559.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related 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 completion of the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company's stock.

Insmed Stock Performance

Shares of INSM stock traded down $0.75 during mid-day trading on Friday, reaching $70.96. 674,453 shares of the company's stock traded hands, compared to its average volume of 1,187,836. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The firm has a market capitalization of $10.55 billion, a PE ratio of -13.57 and a beta of 1.11. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The firm has a 50 day moving average price of $73.83 and a two-hundred day moving average price of $60.03.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing analysts' consensus estimates of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to analyst estimates of $87.95 million. During the same period last year, the firm posted ($1.78) EPS. The firm's quarterly revenue was up 17.0% on a year-over-year basis. On average, research analysts forecast that Insmed Incorporated will post -5.41 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on INSM. The Goldman Sachs Group lifted their price target on Insmed from $74.00 to $102.00 and gave the stock a "buy" rating in a research report on Wednesday, July 10th. TD Cowen raised their price target on shares of Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Morgan Stanley boosted their price objective on shares of Insmed from $60.00 to $85.00 and gave the stock an "overweight" rating in a report on Friday, July 12th. JPMorgan Chase & Co. lifted their target price on Insmed from $72.00 to $74.00 and gave the stock an "overweight" rating in a report on Thursday, October 3rd. Finally, HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Insmed in a report on Thursday, August 29th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat.com, Insmed currently has an average rating of "Moderate Buy" and an average target price of $82.73.

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.