Insmed Incorporated (NASDAQ:INSM) Shares Sold by FORA Capital LLC

FORA Capital LLC decreased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 20.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 55,580 shares of the biopharmaceutical company’s stock after selling 13,907 shares during the quarter. FORA Capital LLC’s holdings in Insmed were worth $4,057,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the company. Russell Investments Group Ltd. increased its holdings in shares of Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after acquiring an additional 21,963 shares during the period. EntryPoint Capital LLC acquired a new position in Insmed in the first quarter valued at $33,000. Kennedy Capital Management LLC purchased a new stake in shares of Insmed in the first quarter valued at about $267,000. Comerica Bank boosted its stake in shares of Insmed by 3,984.1% during the first quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock worth $1,344,000 after buying an additional 48,327 shares during the period. Finally, Transcend Capital Advisors LLC purchased a new position in shares of Insmed during the second quarter worth about $314,000.

Insmed Price Performance

Shares of INSM stock traded down $0.37 during mid-day trading on Wednesday, reaching $75.31. The stock had a trading volume of 121,308 shares, compared to its average volume of 2,226,617. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The business has a 50-day simple moving average of $72.10 and a 200 day simple moving average of $67.28. The company has a market cap of $13.47 billion, a P/E ratio of -13.64 and a beta of 1.12.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same quarter in the previous year, the business earned ($1.10) earnings per share. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. On average, sell-side analysts anticipate that Insmed Incorporated will post -5.42 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms have commented on INSM. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. TD Cowen increased their price target on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Bank of America raised their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group boosted their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insider Activity

In related news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 over the last three months. 4.60% of the stock is currently owned by corporate insiders.

Insmed Profile

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.