New York Life Investment Management LLC Has $1.23 Million Position in Insmed Incorporated (NASDAQ:INSM)

New York Life Investment Management LLC lowered its position in shares of Insmed Incorporated (NASDAQ:INSM) by 2.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 17,875 shares of the biopharmaceutical company’s stock after selling 469 shares during the quarter. New York Life Investment Management LLC’s holdings in Insmed were worth $1,234,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Jennison Associates LLC boosted its holdings in shares of Insmed by 0.6% in the fourth quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company’s stock valued at $53,424,000 after buying an additional 4,560 shares during the period. Capital CS Group LLC acquired a new position in shares of Insmed in the fourth quarter valued at approximately $586,000. Orion Portfolio Solutions LLC boosted its holdings in shares of Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after buying an additional 9,170 shares during the period. Ally Bridge Group NY LLC boosted its holdings in shares of Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after buying an additional 21,833 shares during the period. Finally, TimesSquare Capital Management LLC acquired a new position in shares of Insmed in the third quarter valued at approximately $35,322,000.

Analysts Set New Price Targets

Several research analysts have recently weighed in on INSM shares. JPMorgan Chase & Co. upped their price target on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Royal Bank of Canada began coverage on shares of Insmed in a report on Tuesday, February 25th. They issued an “outperform” rating and a $100.00 price target for the company. Guggenheim restated a “buy” rating and set a $101.00 target price on shares of Insmed in a report on Tuesday, February 25th. Stifel Nicolaus reduced their target price on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a report on Friday, February 21st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $91.60.

Insider Activity

In other news, CFO Sara Bonstein sold 1,066 shares of the stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the transaction, the chief financial officer now directly owns 118,863 shares of the company’s stock, valued at $7,573,950.36. This represents a 0.89 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 532,207 shares of company stock valued at $41,400,465 over the last ninety days. 4.60% of the stock is currently owned by company insiders.

Insmed Stock Performance

NASDAQ INSM opened at $76.29 on Tuesday. 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 firm’s fifty day moving average price is $75.19 and its two-hundred day moving average price is $73.80. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $84.91. The firm has a market capitalization of $13.81 billion, a P/E ratio of -13.65 and a beta of 1.11.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insmed Company 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.