JPMorgan Chase & Co. decreased its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 32.1% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 998,178 shares of the biopharmaceutical company’s stock after selling 470,989 shares during the quarter. JPMorgan Chase & Co. owned approximately 1.61% of Insmed worth $17,129,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Palo Alto Investors LLC increased its holdings in Insmed by 1.6% during the 1st quarter. Palo Alto Investors LLC now owns 5,534,150 shares of the biopharmaceutical company’s stock worth $96,903,000 after purchasing an additional 87,634 shares during the period. Vanguard Group Inc. increased its holdings in Insmed by 4.8% during the 1st quarter. Vanguard Group Inc. now owns 3,781,483 shares of the biopharmaceutical company’s stock worth $66,214,000 after purchasing an additional 173,532 shares during the period. State Street Corp increased its holdings in Insmed by 4.8% during the 1st quarter. State Street Corp now owns 1,499,611 shares of the biopharmaceutical company’s stock worth $26,259,000 after purchasing an additional 68,319 shares during the period. Emerald Advisers Inc. PA increased its holdings in Insmed by 23.0% during the 2nd quarter. Emerald Advisers Inc. PA now owns 1,285,365 shares of the biopharmaceutical company’s stock worth $22,057,000 after purchasing an additional 240,048 shares during the period. Finally, Emerald Mutual Fund Advisers Trust increased its holdings in Insmed by 26.8% during the 2nd quarter. Emerald Mutual Fund Advisers Trust now owns 1,036,283 shares of the biopharmaceutical company’s stock worth $17,783,000 after purchasing an additional 218,933 shares during the period. Institutional investors own 73.08% of the company’s stock.

In other news, Director Melvin Md Sharoky sold 50,000 shares of Insmed stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $27.37, for a total transaction of $1,368,500.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Donald J. Hayden, Jr. sold 45,000 shares of Insmed stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $29.67, for a total value of $1,335,150.00. Following the sale, the director now directly owns 71,131 shares in the company, valued at $2,110,456.77. The disclosure for this sale can be found here. 4.03% of the stock is currently owned by insiders.

TRADEMARK VIOLATION WARNING: This report was first posted by Daily Political and is the property of of Daily Political. If you are reading this report on another publication, it was illegally copied and reposted in violation of international trademark and copyright law. The original version of this report can be read at https://www.dailypolitical.com/2017/09/23/jpmorgan-chase-co-sells-470989-shares-of-insmed-inc-insm.html.

INSM has been the topic of several recent research reports. Leerink Swann upped their price target on Insmed from $27.00 to $36.00 and gave the stock an “outperform” rating in a report on Tuesday, September 5th. BidaskClub downgraded Insmed from a “hold” rating to a “sell” rating in a report on Saturday, August 5th. Zacks Investment Research downgraded Insmed from a “buy” rating to a “hold” rating in a report on Monday, July 17th. ValuEngine downgraded Insmed from a “hold” rating to a “sell” rating in a report on Thursday, August 3rd. Finally, HC Wainwright restated a “buy” rating on shares of Insmed in a report on Wednesday, August 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average target price of $34.50.

Insmed, Inc. (NASDAQ:INSM) opened at 28.50 on Friday. Insmed, Inc. has a 12-month low of $10.21 and a 12-month high of $31.39. The stock’s market cap is $1.78 billion. The stock has a 50 day moving average price of $17.85 and a 200-day moving average price of $17.15.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.09). On average, equities analysts expect that Insmed, Inc. will post ($2.70) earnings per share for the current year.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed Inc. and related companies with MarketBeat.com's FREE daily email newsletter.