Victory Capital Management Inc. Trims Stock Position in Insmed Incorporated (NASDAQ:INSM)

Victory Capital Management Inc. cut its position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 10.0% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 410,577 shares of the biopharmaceutical company's stock after selling 45,382 shares during the period. Victory Capital Management Inc. owned about 0.23% of Insmed worth $28,346,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Vestal Point Capital LP boosted its holdings in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock worth $116,800,000 after acquiring an additional 850,000 shares in the last quarter. Westfield Capital Management Co. LP acquired a new stake in Insmed in the 3rd quarter worth approximately $18,377,000. Eventide Asset Management LLC grew its position in Insmed by 34.2% during the 3rd quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company's stock worth $66,167,000 after purchasing an additional 231,210 shares during the last quarter. Principal Financial Group Inc. grew its position in Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company's stock worth $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Finally, TimesSquare Capital Management LLC increased its stake in Insmed by 41.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 684,384 shares of the biopharmaceutical company's stock valued at $47,250,000 after purchasing an additional 200,515 shares in the last quarter.

Remove Ads

Insider Buying and Selling

In other news, CFO Sara Bonstein sold 1,066 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the sale, the chief financial officer now directly owns 118,863 shares of the company's stock, valued at approximately $7,573,950.36. The trade was a 0.89 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company's stock, valued at $26,885,606.40. This trade represents a 4.64 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 550,957 shares of company stock valued at $42,859,028. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on INSM shares. HC Wainwright reiterated a "buy" rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, February 21st. Stifel Nicolaus cut their price target on Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research note on Friday, February 21st. JPMorgan Chase & Co. upped their price target on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Royal Bank of Canada started coverage on Insmed in a report on Tuesday, February 25th. They issued an "outperform" rating and a $100.00 price objective on the stock. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. Based on data from MarketBeat, Insmed presently has an average rating of "Moderate Buy" and an average target price of $93.33.

Insmed Trading Up 2.0 %

Shares of NASDAQ INSM traded up $1.48 during trading on Friday, hitting $76.55. 1,120,723 shares of the company were exchanged, compared to its average volume of 1,937,996. 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 company has a fifty day moving average price of $76.04 and a 200-day moving average price of $73.72. The firm has a market capitalization of $13.86 billion, a PE ratio of -13.69 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 for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to analysts' expectations of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. As a group, equities research analysts expect that Insmed Incorporated will post -4.56 EPS 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.