Quest Partners LLC Has $34,000 Stake in Insmed Incorporated (NASDAQ:INSM)

Quest Partners LLC reduced its holdings in Insmed Incorporated (NASDAQ:INSM) by 62.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 459 shares of the biopharmaceutical company’s stock after selling 769 shares during the quarter. Quest Partners LLC’s holdings in Insmed were worth $34,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of INSM. Darwin Global Management Ltd. acquired a new position in Insmed during the 2nd quarter worth about $237,076,000. Clearbridge Investments LLC raised its stake in shares of Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after acquiring an additional 714,539 shares during the last quarter. Fiera Capital Corp acquired a new position in shares of Insmed during the second quarter worth approximately $40,570,000. Farallon Capital Management LLC bought a new stake in shares of Insmed during the second quarter valued at approximately $38,056,000. Finally, Fred Alger Management LLC acquired a new stake in shares of Insmed in the second quarter valued at approximately $33,404,000.

Insiders Place Their Bets

In related news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This trade represents a 29.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. Corporate insiders own 4.60% of the company’s stock.

Insmed Price Performance

Shares of NASDAQ INSM opened at $75.16 on Monday. The company has a market capitalization of $13.45 billion, a PE ratio of -13.54 and a beta of 1.12. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The firm has a fifty day simple moving average of $72.20 and a 200 day simple moving average of $68.34.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the business posted ($1.10) earnings per share. On average, sell-side analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on INSM shares. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. TD Cowen upped their target price 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. Stifel Nicolaus raised their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group boosted their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. raised their price objective 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. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

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.