Quest Partners LLC Sells 4,206 Shares of Insmed Incorporated (NASDAQ:INSM)

Quest Partners LLC reduced its position in Insmed Incorporated (NASDAQ:INSM) by 77.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,228 shares of the biopharmaceutical company’s stock after selling 4,206 shares during the quarter. Quest Partners LLC’s holdings in Insmed were worth $82,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Rafferty Asset Management LLC increased its stake in Insmed by 17.4% in the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock valued at $9,950,000 after acquiring an additional 47,563 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new position in shares of Insmed in the 4th quarter valued at $12,551,000. Artia Global Partners LP acquired a new position in shares of Insmed during the 4th quarter worth $2,322,000. Norges Bank acquired a new position in shares of Insmed during the 4th quarter worth $45,029,000. Finally, Clearbridge Investments LLC acquired a new stake in Insmed in the first quarter valued at about $25,242,000.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on INSM shares. Wells Fargo & Company increased their target price on shares of Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a report on Wednesday, May 29th. HC Wainwright reissued a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Thursday, August 29th. Evercore ISI raised their target price on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research report on Friday, June 21st. Mizuho upped their price target on shares of Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a report on Friday, June 7th. Finally, JPMorgan Chase & Co. raised their price objective on Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a report on Thursday, June 20th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed has an average rating of “Moderate Buy” and an average target price of $79.19.

Insmed Price Performance

Insmed stock opened at $73.26 on Wednesday. The firm has a market cap of $10.89 billion, a P/E ratio of -14.01 and a beta of 1.11. The stock’s 50 day moving average is $74.78 and its 200 day moving average is $51.24. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analysts’ expectations of $87.95 million. During the same quarter in the prior year, the business earned ($1.78) EPS. The business’s revenue for the quarter was up 17.0% on a year-over-year basis. As a group, research analysts expect that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Activity at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction dated Monday, September 16th. The stock was 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 directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 of the company’s stock, valued at $7,951,559.28. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 over the last quarter. Company insiders own 4.60% of the company’s stock.

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.