New York Life Investment Management LLC Decreases Holdings in Insmed, Inc. $INSM

New York Life Investment Management LLC cut its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 0.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,680 shares of the biopharmaceutical company’s stock after selling 124 shares during the quarter. New York Life Investment Management LLC’s holdings in Insmed were worth $1,880,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. M&T Bank Corp raised its stake in shares of Insmed by 4.7% during the first quarter. M&T Bank Corp now owns 3,293 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 147 shares in the last quarter. ORG Partners LLC raised its stake in shares of Insmed by 220.2% during the second quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock worth $28,000 after acquiring an additional 196 shares in the last quarter. Cullen Frost Bankers Inc. raised its stake in shares of Insmed by 164.9% during the first quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company’s stock worth $27,000 after acquiring an additional 221 shares in the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Insmed by 6.5% during the first quarter. Nisa Investment Advisors LLC now owns 3,761 shares of the biopharmaceutical company’s stock worth $287,000 after acquiring an additional 228 shares in the last quarter. Finally, Hilltop National Bank purchased a new position in shares of Insmed during the second quarter worth approximately $28,000.

Wall Street Analyst Weigh In

Several research firms have commented on INSM. TD Cowen lifted their price target on shares of Insmed from $154.00 to $193.00 and gave the stock a “buy” rating in a research note on Thursday, October 2nd. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a research note on Wednesday, October 8th. Evercore ISI reaffirmed an “outperform” rating and issued a $180.00 target price on shares of Insmed in a research note on Wednesday, October 1st. The Goldman Sachs Group lifted their target price on shares of Insmed from $196.00 to $225.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Bank of America lifted their target price on shares of Insmed from $142.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Nineteen equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $173.29.

Insider Transactions at Insmed

In other news, insider Michael Alexander Smith sold 24,272 shares of the company’s stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $143.89, for a total value of $3,492,498.08. Following the sale, the insider directly owned 54,902 shares of the company’s stock, valued at $7,899,848.78. This represents a 30.66% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 76,520 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $145.45, for a total transaction of $11,129,834.00. Following the completion of the sale, the insider directly owned 36,461 shares in the company, valued at $5,303,252.45. This represents a 67.73% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 152,657 shares of company stock worth $21,442,198. 3.00% of the stock is owned by insiders.

Insmed Stock Down 2.4%

Shares of NASDAQ INSM opened at $189.60 on Friday. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The firm’s fifty day moving average is $152.02 and its 200 day moving average is $112.09. The company has a market cap of $40.08 billion, a price-to-earnings ratio of -33.20 and a beta of 1.03. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $197.08.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The company had revenue of $142.34 million for the quarter, compared to analysts’ expectations of $114.33 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The firm’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.27) earnings per share. Insmed has set its FY 2025 guidance at EPS. On average, equities research analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current year.

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.