Rhenman & Partners Asset Management AB Sells 18,300 Shares of Insmed, Inc. $INSM

Rhenman & Partners Asset Management AB cut its stake in Insmed, Inc. (NASDAQ:INSM) by 13.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 113,585 shares of the biopharmaceutical company’s stock after selling 18,300 shares during the quarter. Insmed accounts for 1.8% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 16th biggest position. Rhenman & Partners Asset Management AB’s holdings in Insmed were worth $19,768,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. CIBC Private Wealth Group LLC increased its stake in Insmed by 42.1% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after purchasing an additional 53 shares in the last quarter. Kingsview Wealth Management LLC grew its stake in shares of Insmed by 2.7% during the 3rd quarter. Kingsview Wealth Management LLC now owns 2,321 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 60 shares in the last quarter. Choreo LLC grew its stake in shares of Insmed by 2.9% during the 3rd quarter. Choreo LLC now owns 2,319 shares of the biopharmaceutical company’s stock worth $334,000 after acquiring an additional 65 shares in the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Insmed by 10.2% during the 4th quarter. EverSource Wealth Advisors LLC now owns 747 shares of the biopharmaceutical company’s stock worth $130,000 after acquiring an additional 69 shares in the last quarter. Finally, ORG Partners LLC grew its stake in shares of Insmed by 12.7% during the 4th quarter. ORG Partners LLC now owns 657 shares of the biopharmaceutical company’s stock worth $114,000 after acquiring an additional 74 shares in the last quarter.

Insider Buying and Selling

In other news, insider Michael Alexander Smith sold 2,159 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $220,800.93. Following the completion of the sale, the insider owned 39,454 shares of the company’s stock, valued at approximately $4,034,960.58. This represents a 5.19% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total value of $777,763.35. Following the completion of the sale, the chief executive officer directly owned 265,432 shares of the company’s stock, valued at approximately $27,145,730.64. The trade was a 2.79% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 160,482 shares of company stock worth $24,438,193. 2.10% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Wednesday. Jefferies Financial Group assumed coverage on shares of Insmed in a research note on Monday, March 16th. They set a “buy” rating and a $228.00 price target for the company. Royal Bank Of Canada decreased their price target on shares of Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a research note on Friday, June 5th. Truist Financial decreased their price target on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a research note on Wednesday, May 13th. Finally, Mizuho raised their price target on shares of Insmed from $204.00 to $206.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 25th. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $212.50.

Insmed Trading Up 1.2%

NASDAQ INSM opened at $97.85 on Friday. The company has a market cap of $21.21 billion, a PE ratio of -17.02 and a beta of 0.79. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The stock has a 50 day moving average of $124.55 and a 200-day moving average of $151.31.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. The company had revenue of $305.96 million during the quarter, compared to the consensus estimate of $300.81 million. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The firm’s revenue for the quarter was up 229.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($1.42) EPS. On average, equities research analysts anticipate that Insmed, Inc. will post -2.54 EPS for the current fiscal year.

Insmed Profile

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.