AlphaCentric Advisors LLC Sells 1,070 Shares of Insmed Incorporated (NASDAQ:INSM)

AlphaCentric Advisors LLC lessened its position in Insmed Incorporated (NASDAQ:INSM) by 21.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,930 shares of the biopharmaceutical company’s stock after selling 1,070 shares during the period. AlphaCentric Advisors LLC’s holdings in Insmed were worth $271,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Exchange Traded Concepts LLC lifted its position in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares in the last quarter. Creative Planning raised its stake in shares of Insmed by 31.2% in the third quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after purchasing an additional 10,668 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Insmed during the third quarter valued at $30,000. Blue Trust Inc. boosted its position in shares of Insmed by 2,348.8% during the third quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock valued at $131,000 after buying an additional 1,879 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in Insmed by 18.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 390,134 shares of the biopharmaceutical company’s stock worth $28,480,000 after buying an additional 62,061 shares in the last quarter.

Insmed Stock Up 0.8 %

Insmed stock opened at $79.31 on Monday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $82.04. The company’s 50-day moving average is $73.38 and its 200 day moving average is $73.28.

Insider Activity

In related news, CFO Sara Bonstein sold 13,302 shares of Insmed stock in a transaction dated Tuesday, February 11th. The shares were sold at an average price of $80.00, for a total transaction of $1,064,160.00. Following the completion of the sale, the chief financial officer now owns 142,204 shares in the company, valued at $11,376,320. This trade represents a 8.55 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 33,055 shares of the company’s stock in a transaction dated Thursday, February 6th. The stock was sold at an average price of $80.90, for a total transaction of $2,674,149.50. Following the completion of the transaction, the insider now owns 138,053 shares in the company, valued at $11,168,487.70. This represents a 19.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 495,135 shares of company stock valued at $38,409,713. 4.60% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. JPMorgan Chase & Co. upped their target price on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday, February 7th. Guggenheim increased their price objective on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday, February 7th. Morgan Stanley lifted their target price on shares of Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research report on Thursday, February 6th. Truist Financial reissued a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Insmed from $88.00 to $97.00 and gave the stock a “buy” rating in a report on Tuesday, February 11th. One analyst has rated the stock with a sell rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $88.71.

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.