Rhumbline Advisers Sells 95,212 Shares of Insmed, Inc. $INSM

Rhumbline Advisers reduced its stake in Insmed, Inc. (NASDAQ:INSM) by 31.4% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 208,345 shares of the biopharmaceutical company’s stock after selling 95,212 shares during the quarter. Rhumbline Advisers owned approximately 0.10% of Insmed worth $20,968,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. AXQ Capital LP purchased a new stake in shares of Insmed in the second quarter valued at about $243,000. Legal & General Group Plc grew its position in Insmed by 15.3% in the 2nd quarter. Legal & General Group Plc now owns 207,851 shares of the biopharmaceutical company’s stock worth $20,918,000 after purchasing an additional 27,649 shares in the last quarter. Neo Ivy Capital Management increased its stake in Insmed by 287.6% in the 2nd quarter. Neo Ivy Capital Management now owns 17,256 shares of the biopharmaceutical company’s stock valued at $1,737,000 after buying an additional 12,804 shares during the last quarter. DNB Asset Management AS purchased a new stake in Insmed in the 2nd quarter valued at about $208,000. Finally, Swiss National Bank lifted its position in shares of Insmed by 5.5% during the 2nd quarter. Swiss National Bank now owns 347,400 shares of the biopharmaceutical company’s stock worth $34,962,000 after buying an additional 18,100 shares in the last quarter.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. Royal Bank Of Canada upped their target price on Insmed from $139.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, October 31st. The Goldman Sachs Group increased their target price on shares of Insmed from $196.00 to $225.00 and gave the company a “buy” rating in a research report on Friday, October 31st. UBS Group lifted their price objective on Insmed from $194.00 to $223.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Cowen reissued a “buy” rating on shares of Insmed in a research report on Thursday, November 20th. Finally, Truist Financial raised their price objective on shares of Insmed from $126.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, August 14th. Nineteen research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $175.53.

Insmed Trading Down 2.2%

Shares of INSM opened at $204.51 on Friday. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $209.77. The stock has a market cap of $43.62 billion, a PE ratio of -35.82 and a beta of 1.05. The company has a quick ratio of 6.33, a current ratio of 6.68 and a debt-to-equity ratio of 0.45. The business’s 50-day moving average price is $172.67 and its 200-day moving average price is $128.67.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The firm had revenue of $142.34 million during the quarter, compared to the consensus estimate of $114.33 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. Insmed’s revenue was up 52.4% compared to the same quarter last year. During the same quarter last year, the business posted ($1.27) earnings per share. Insmed has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Insider Activity

In related news, Director Melvin Md Sharoky sold 10,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the completion of the transaction, the director directly owned 262,675 shares in the company, valued at $38,190,318.25. The trade was a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Elizabeth M. Anderson sold 10,000 shares of the company’s stock in a transaction dated Friday, November 14th. The stock was sold at an average price of $195.87, for a total value of $1,958,700.00. Following the completion of the transaction, the director owned 63,729 shares in the company, valued at $12,482,599.23. This represents a 13.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 257,922 shares of company stock worth $44,556,283. Company insiders own 3.00% of the company’s stock.

About Insmed

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.