Picton Mahoney Asset Management Grows Position in Insmed Incorporated (NASDAQ:INSM)

Picton Mahoney Asset Management increased its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 7.4% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 48,897 shares of the biopharmaceutical company's stock after purchasing an additional 3,354 shares during the period. Picton Mahoney Asset Management's holdings in Insmed were worth $3,374,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its holdings in Insmed by 65.2% during 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 lifted its holdings in Insmed by 60.3% during the 4th 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 in the last quarter. Spire Wealth Management purchased a new stake in Insmed during the 4th quarter worth about $47,000. Smartleaf Asset Management LLC lifted its holdings in Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company's stock worth $57,000 after purchasing an additional 411 shares in the last quarter. Finally, Venturi Wealth Management LLC purchased a new stake in Insmed during the 4th quarter worth about $86,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of recent research reports. Truist Financial increased 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. Guggenheim reaffirmed a "buy" rating and issued a $101.00 price target on shares of Insmed in a report on Tuesday, February 25th. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a report on Wednesday, February 19th. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Insmed in a report on Wednesday. Finally, Stifel Nicolaus lowered their price target on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $94.00.

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Insider Buying and Selling

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $25,742,347.58. This trade represents a 5.31 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 3,344 shares of Insmed stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total value of $220,403.04. Following the completion of the sale, the insider now owns 102,766 shares in the company, valued at approximately $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 550,957 shares of company stock worth $42,992,528 in the last ninety days. 4.60% of the stock is owned by insiders.

Insmed Trading Down 0.2 %

INSM traded down $0.17 on Thursday, hitting $78.77. 1,480,009 shares of the company were exchanged, compared to its average volume of 2,170,248. The firm has a fifty day simple moving average of $76.88 and a two-hundred day simple moving average of $73.74. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The stock has a market capitalization of $14.26 billion, a PE ratio of -14.09 and a beta of 1.28.

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 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 company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. Sell-side analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current year.

About Insmed

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.