Rhenman & Partners Asset Management AB Sells 10,065 Shares of Insmed, Inc. $INSM

Rhenman & Partners Asset Management AB trimmed its holdings in Insmed, Inc. (NASDAQ:INSM) by 5.4% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 175,435 shares of the biopharmaceutical company’s stock after selling 10,065 shares during the quarter. Insmed comprises approximately 2.2% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 14th biggest position. Rhenman & Partners Asset Management AB owned about 0.08% of Insmed worth $17,656,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of INSM. Mutual of America Capital Management LLC boosted its holdings in shares of Insmed by 2.7% during the 1st quarter. Mutual of America Capital Management LLC now owns 79,141 shares of the biopharmaceutical company’s stock valued at $6,038,000 after acquiring an additional 2,093 shares during the last quarter. CWM LLC boosted its holdings in Insmed by 24.5% in the first quarter. CWM LLC now owns 2,052 shares of the biopharmaceutical company’s stock worth $157,000 after purchasing an additional 404 shares during the last quarter. Avantax Advisory Services Inc. grew its position in Insmed by 5.9% in the 1st quarter. Avantax Advisory Services Inc. now owns 9,497 shares of the biopharmaceutical company’s stock worth $725,000 after purchasing an additional 530 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Insmed by 103.7% during the 1st quarter. Cetera Investment Advisers now owns 20,679 shares of the biopharmaceutical company’s stock valued at $1,578,000 after buying an additional 10,525 shares during the period. Finally, Skandinaviska Enskilda Banken AB publ boosted its position in Insmed by 31.8% in the first quarter. Skandinaviska Enskilda Banken AB publ now owns 27,789 shares of the biopharmaceutical company’s stock worth $2,120,000 after purchasing an additional 6,705 shares during the last quarter.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,130 shares of the firm’s stock in a transaction that occurred on Monday, November 3rd. The stock was sold at an average price of $183.78, for a total transaction of $4,985,951.40. Following the completion of the transaction, the insider owned 54,902 shares in the company, valued at $10,089,889.56. This trade represents a 33.07% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction that occurred on Friday, September 12th. The stock was sold at an average price of $145.39, for a total value of $1,453,900.00. Following the completion of the sale, the director directly owned 262,675 shares in the company, valued at approximately $38,190,318.25. The trade was a 3.67% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 252,922 shares of company stock worth $43,533,383. Insiders own 3.00% of the company’s stock.

Insmed Stock Performance

NASDAQ:INSM opened at $209.02 on Wednesday. The stock has a 50-day moving average price of $170.30 and a 200 day moving average price of $127.60. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $209.77. The stock has a market capitalization of $44.58 billion, a P/E ratio of -36.61 and a beta of 1.05.

Insmed (NASDAQ:INSM) last announced 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). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The company had revenue of $142.34 million for the quarter, compared to analysts’ expectations of $114.33 million. During the same period last year, the business earned ($1.27) earnings per share. The company’s quarterly revenue was up 52.4% compared to the same quarter last year. Insmed has set its FY 2025 guidance at EPS. Equities research analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on INSM shares. William Blair started coverage on shares of Insmed in a research report on Wednesday, August 20th. They issued an “outperform” rating on the stock. Jefferies Financial Group upped their price target on Insmed from $129.00 to $148.00 and gave the stock a “buy” rating in a research report on Wednesday, August 13th. UBS Group raised their price objective on Insmed from $194.00 to $223.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Cantor Fitzgerald began coverage on Insmed in a research report on Tuesday, October 28th. They set an “overweight” rating and a $192.00 price objective on the stock. Finally, Stifel Nicolaus increased their target price on shares of Insmed from $121.00 to $145.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Nineteen analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $175.53.

About Insmed

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.