Fred Alger Management LLC Decreases Stock Position in Insmed, Inc. $INSM

Fred Alger Management LLC cut its position in Insmed, Inc. (NASDAQ:INSM) by 50.4% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 94,033 shares of the biopharmaceutical company’s stock after selling 95,686 shares during the period. Fred Alger Management LLC’s holdings in Insmed were worth $13,542,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in INSM. Stone House Investment Management LLC bought a new position in shares of Insmed during the 3rd quarter worth $29,000. SBI Securities Co. Ltd. raised its stake in Insmed by 404.9% in the 3rd 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 period. MassMutual Private Wealth & Trust FSB lifted its holdings in Insmed by 59.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 81 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in Insmed by 169.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 151 shares during the last quarter. Finally, RiverPark Advisors LLC bought a new position in Insmed during the third quarter worth about $38,000.

Insmed Stock Up 3.7%

INSM opened at $144.60 on Tuesday. The business’s fifty day simple moving average is $154.57 and its 200 day simple moving average is $166.22. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The stock has a market cap of $31.17 billion, a PE ratio of -22.56 and a beta of 1.13.

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

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 748 shares of the business’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.34, for a total value of $116,942.32. Following the completion of the sale, the chief financial officer owned 79,758 shares in the company, valued at $12,469,365.72. The trade was a 0.93% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 640 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total value of $100,012.80. Following the completion of the sale, the insider directly owned 56,397 shares of the company’s stock, valued at approximately $8,813,159.19. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 189,651 shares of company stock worth $31,784,545. 3.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INSM shares. Jefferies Financial Group assumed coverage on shares of Insmed in a research note on Monday. They issued a “buy” rating and a $228.00 target price for the company. Stifel Nicolaus set a $205.00 price target on shares of Insmed in a research note on Thursday, February 19th. Wells Fargo & Company cut their price objective on shares of Insmed from $234.00 to $208.00 and set an “overweight” rating for the company in a report on Friday, February 20th. Barclays initiated 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. Finally, Truist Financial set a $205.00 target price on Insmed in a research report on Monday, January 12th. Three equities research 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $205.57.

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.