Great Point Partners LLC Sells 525,585 Shares of Insmed Incorporated (NASDAQ:INSM)

Great Point Partners LLC trimmed its position in Insmed Incorporated (NASDAQ:INSM) by 67.8% in the second quarter, HoldingsChannel.com reports. The firm owned 250,000 shares of the biopharmaceutical company’s stock after selling 525,585 shares during the period. Insmed comprises 3.2% of Great Point Partners LLC’s investment portfolio, making the stock its 11th largest holding. Great Point Partners LLC’s holdings in Insmed were worth $16,750,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EntryPoint Capital LLC bought a new position in shares of Insmed during the 1st quarter worth about $33,000. Fidelis Capital Partners LLC acquired a new position in Insmed in the first quarter worth about $34,000. First Horizon Advisors Inc. lifted its stake in Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the period. Headlands Technologies LLC acquired a new stake in Insmed during the first quarter valued at approximately $59,000. Finally, CWM LLC grew its stake in shares of Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after purchasing an additional 155 shares during the period.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s 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 transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The disclosure for this sale can be found here. In the last three months, insiders sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by corporate insiders.

Insmed Trading Down 3.2 %

NASDAQ:INSM opened at $71.82 on Tuesday. The business’s 50-day moving average price is $74.57 and its two-hundred day moving average price is $52.52. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The firm has a market capitalization of $10.67 billion, a price-to-earnings ratio of -13.73 and a beta of 1.11. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Truist Financial cut their target price on Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Guggenheim boosted their target price on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Mizuho lifted their price target on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

Insmed Company 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.