Nwam LLC Cuts Stock Position in Insmed, Inc. $INSM

Nwam LLC cut its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 88.7% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,071 shares of the biopharmaceutical company’s stock after selling 39,812 shares during the quarter. Nwam LLC’s holdings in Insmed were worth $541,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. CIBC Private Wealth Group LLC grew its position in Insmed by 42.1% during the third quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock valued at $26,000 after buying an additional 53 shares during the period. Reflection Asset Management bought a new stake in Insmed in the fourth quarter worth about $30,000. Raiffeisen Bank International AG purchased a new position in Insmed in the fourth quarter valued at about $32,000. Larson Financial Group LLC boosted its stake in Insmed by 137.0% in the fourth quarter. Larson Financial Group LLC now owns 256 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 148 shares during the last quarter. Finally, Towarzystwo Funduszy Inwestycyjnych PZU SA bought a new position in shares of Insmed during the 4th quarter valued at approximately $49,000.

Insmed Price Performance

Insmed stock opened at $126.68 on Friday. The firm has a market capitalization of $27.66 billion, a P/E ratio of -30.82 and a beta of 0.82. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.74, a current ratio of 3.72 and a quick ratio of 3.40. The business has a fifty day moving average price of $115.40 and a 200-day moving average price of $125.21.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, August 6th. The biopharmaceutical company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.67) by $0.61. Insmed had a negative return on equity of 123.94% and a negative net margin of 76.94%.The company had revenue of $425.49 million for the quarter, compared to analyst estimates of $395.50 million. During the same period in the previous year, the company posted ($1.70) EPS. The firm’s revenue for the quarter was up 296.1% compared to the same quarter last year. As a group, equities research analysts forecast that Insmed, Inc. will post -1.83 EPS for the current year.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 10,699 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $117.40, for a total transaction of $1,256,062.60. Following the sale, the chief executive officer owned 259,058 shares of the company’s stock, valued at approximately $30,413,409.20. This represents a 3.97% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 239,850 shares of the stock in a transaction that occurred on Monday, August 10th. The stock was sold at an average price of $133.27, for a total transaction of $31,964,809.50. Following the completion of the sale, the chief operating officer owned 98,744 shares in the company, valued at $13,159,612.88. This represents a 70.84% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 273,753 shares of company stock valued at $35,604,764. 2.10% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Mizuho set a $192.00 price target on shares of Insmed in a report on Tuesday, June 16th. JPMorgan Chase & Co. lowered their target price on Insmed from $179.00 to $175.00 and set an “overweight” rating on the stock in a research note on Monday, August 10th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Insmed in a research note on Friday, July 17th. UBS Group restated a “buy” rating and issued a $172.00 price objective on shares of Insmed in a research note on Friday, August 7th. Finally, Jefferies Financial Group reiterated a “buy” rating and set a $175.00 target price on shares of Insmed in a research report on Thursday, August 6th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-two have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average price target of $205.52.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.