First Trust Advisors LP Sells 214,129 Shares of Insmed Incorporated (NASDAQ:INSM)

First Trust Advisors LP decreased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 76.3% in the 4th quarter, Holdings Channel reports. The fund owned 66,690 shares of the biopharmaceutical company’s stock after selling 214,129 shares during the quarter. First Trust Advisors LP’s holdings in Insmed were worth $4,604,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Tidal Investments LLC raised its stake in shares of Insmed by 447.0% in the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company’s stock valued at $1,759,000 after purchasing an additional 19,696 shares during the period. Principal Financial Group Inc. raised its position in Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after buying an additional 214,130 shares during the last quarter. Everence Capital Management Inc. bought a new stake in Insmed in the 4th quarter valued at approximately $352,000. Harbor Capital Advisors Inc. boosted its position in Insmed by 237.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company’s stock worth $4,115,000 after acquiring an additional 41,918 shares during the last quarter. Finally, JCIC Asset Management Inc. grew its stake in shares of Insmed by 40.7% during the 4th quarter. JCIC Asset Management Inc. now owns 2,560 shares of the biopharmaceutical company’s stock worth $177,000 after acquiring an additional 740 shares in the last quarter.

Analyst Ratings Changes

Several brokerages recently commented on INSM. JPMorgan Chase & Co. increased their target price on shares of Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Wednesday, February 19th. Stifel Nicolaus lowered their target price on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a research report on Friday, February 21st. Wells Fargo & Company increased their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a research report on Wednesday, February 19th. Finally, UBS Group boosted their price target on Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a research report on Thursday, March 6th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of Insmed stock in a transaction dated Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total value of $479,192.80. Following the completion of the sale, the chief executive officer now owns 233,924 shares in the company, valued at $16,412,107.84. The trade was a 2.84 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Adsett sold 45,605 shares of the firm’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $3,689,444.50. Following the transaction, the chief operating officer now directly owns 189,157 shares in the company, valued at $15,302,801.30. This represents a 19.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 380,657 shares of company stock valued at $30,330,039. 3.00% of the stock is currently owned by corporate insiders.

Insmed Stock Up 0.9 %

Shares of INSM opened at $72.64 on Friday. The firm has a market cap of $13.21 billion, a P/E ratio of -12.99 and a beta of 1.07. 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 52 week low of $21.92 and a 52 week high of $84.91. The firm’s 50-day simple moving average is $73.53 and its 200 day simple moving average is $73.50.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The firm had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. On average, analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current year.

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.