SG Americas Securities LLC Has $166,000 Stake in Insmed Incorporated (NASDAQ:INSM)

SG Americas Securities LLC lessened its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 70.9% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,477 shares of the biopharmaceutical company’s stock after selling 6,031 shares during the period. SG Americas Securities LLC’s holdings in Insmed were worth $166,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of Insmed by 2.7% in the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after buying an additional 383,714 shares during the period. Capital International Investors acquired a new stake in Insmed in the first quarter valued at approximately $43,973,000. Norges Bank acquired a new stake in Insmed in the fourth quarter valued at approximately $45,029,000. Principal Financial Group Inc. increased its holdings in shares of Insmed by 5.9% during the first quarter. Principal Financial Group Inc. now owns 1,439,280 shares of the biopharmaceutical company’s stock valued at $39,048,000 after acquiring an additional 79,717 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its position in shares of Insmed by 325.8% during the first quarter. Assenagon Asset Management S.A. now owns 1,211,560 shares of the biopharmaceutical company’s stock worth $32,870,000 after purchasing an additional 927,040 shares during the period.

Insmed Trading Down 0.2 %

Shares of Insmed stock opened at $78.84 on Friday. The firm has a market capitalization of $11.72 billion, a PE ratio of -15.07 and a beta of 1.16. Insmed Incorporated has a 12 month low of $21.21 and a 12 month high of $80.53. The business’s 50-day moving average price is $72.23 and its 200-day moving average price is $45.62.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter in the previous year, the business earned ($1.78) earnings per share. The business’s quarterly revenue was up 17.0% on a year-over-year basis. As a group, analysts predict that Insmed Incorporated will post -4.71 earnings per share for the current fiscal year.

Insider Buying and Selling at Insmed

In related news, CFO Sara Bonstein sold 220,564 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $50.00, for a total transaction of $11,028,200.00. Following the completion of the sale, the chief financial officer now directly owns 117,481 shares in the company, valued at approximately $5,874,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider John Drayton Wise sold 7,852 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $49.79, for a total transaction of $390,951.08. Following the completion of the sale, the insider now directly owns 121,657 shares in the company, valued at $6,057,302.03. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Sara Bonstein sold 220,564 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $50.00, for a total value of $11,028,200.00. Following the transaction, the chief financial officer now owns 117,481 shares in the company, valued at approximately $5,874,050. The disclosure for this sale can be found here. Insiders sold a total of 249,611 shares of company stock worth $12,584,876 over the last three months. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on INSM. Truist Financial reduced their price target on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, August 12th. The Goldman Sachs Group raised their target price on Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. Bank of America reaffirmed a “buy” rating and set a $83.00 price objective on shares of Insmed in a report on Friday, July 5th. Stifel Nicolaus increased their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Barclays boosted their price target on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus price target of $79.19.

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.