Picton Mahoney Asset Management Sells 34,001 Shares of Insmed, Inc. $INSM

Picton Mahoney Asset Management decreased its position in shares of Insmed, Inc. (NASDAQ:INSM) by 39.7% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 51,603 shares of the biopharmaceutical company’s stock after selling 34,001 shares during the quarter. Picton Mahoney Asset Management’s holdings in Insmed were worth $7,434,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Stone House Investment Management LLC acquired a new stake in shares of Insmed during the third quarter worth $29,000. SBI Securities Co. Ltd. boosted its position in Insmed by 404.9% during the third quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock valued at $30,000 after acquiring an additional 166 shares during the last quarter. MassMutual Private Wealth & Trust FSB grew its holdings in Insmed by 59.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after acquiring an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. grew its holdings in Insmed by 169.7% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock worth $38,000 after acquiring an additional 151 shares during the period. Finally, AlphaQuest LLC raised its position in shares of Insmed by 109.5% in the 3rd quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company’s stock worth $41,000 after acquiring an additional 150 shares in the last quarter.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the firm’s stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total value of $15,293,208.00. Following the transaction, the insider owned 41,754 shares in the company, valued at $7,315,300.80. This trade represents a 67.64% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William Lewis sold 19,215 shares of Insmed stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $169.00, for a total value of $3,247,335.00. Following the transaction, the chief executive officer directly owned 306,891 shares in the company, valued at approximately $51,864,579. The trade was a 5.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 178,952 shares of company stock valued at $30,222,170 in the last quarter. Company insiders own 3.00% of the company’s stock.

Insmed Stock Performance

Shares of INSM stock opened at $149.88 on Thursday. The company has a current ratio of 3.83, a quick ratio of 3.54 and a debt-to-equity ratio of 0.76. The firm has a fifty day simple moving average of $159.98 and a two-hundred day simple moving average of $165.37. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $212.75. The firm has a market capitalization of $32.31 billion, a PE ratio of -23.38 and a beta of 1.13.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). The business had revenue of $263.84 million during the quarter, compared to the consensus estimate of $263.97 million. Insmed had a negative net margin of 210.54% and a negative return on equity of 168.36%. The firm’s quarterly revenue was up 152.6% on a year-over-year basis. During the same period last year, the business posted ($1.32) earnings per share. Analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on INSM. Rothschild & Co Redburn set a $263.00 target price on Insmed in a research report on Thursday, December 4th. Citigroup restated an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Barclays assumed coverage on shares of Insmed in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price objective for the company. Bank of America set a $203.00 target price on shares of Insmed in a research note on Thursday, December 18th. Finally, Morgan Stanley set a $166.00 price target on shares of Insmed in a report on Friday, February 20th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Insmed currently has an average rating of “Buy” and an average target price of $207.52.

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.