Fred Alger Management LLC Sells 66,856 Shares of Insmed Incorporated (NASDAQ:INSM)

Fred Alger Management LLC cut its position in Insmed Incorporated (NASDAQ:INSM) by 14.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 385,460 shares of the biopharmaceutical company’s stock after selling 66,856 shares during the period. Fred Alger Management LLC’s holdings in Insmed were worth $26,612,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in INSM. Vanguard Group Inc. grew its stake in shares of Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company’s stock worth $1,257,838,000 after acquiring an additional 1,075,796 shares in the last quarter. Darwin Global Management Ltd. grew its position in Insmed by 23.5% in the fourth quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company’s stock valued at $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Price T Rowe Associates Inc. MD increased its stake in Insmed by 1.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 12,704,410 shares of the biopharmaceutical company’s stock valued at $877,113,000 after buying an additional 123,429 shares during the last quarter. Capital International Investors lifted its position in Insmed by 9.1% during the 4th quarter. Capital International Investors now owns 7,116,997 shares of the biopharmaceutical company’s stock worth $491,357,000 after buying an additional 593,206 shares in the last quarter. Finally, Geode Capital Management LLC boosted its stake in shares of Insmed by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 4,087,143 shares of the biopharmaceutical company’s stock worth $282,243,000 after buying an additional 273,759 shares during the last quarter.

Insider Activity

In other news, insider Martina M.D. Flammer sold 37,828 shares of the business’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $78.61, for a total transaction of $2,973,659.08. Following the sale, the insider now owns 100,165 shares in the company, valued at approximately $7,873,970.65. The trade was a 27.41 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares of the company’s stock, valued at approximately $27,079,091.58. This trade represents a 5.31 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 182,337 shares of company stock valued at $14,284,557. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Guggenheim restated a “buy” rating and issued a $101.00 price target on shares of Insmed in a research note on Tuesday, February 25th. UBS Group boosted their target price on shares of Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Wells Fargo & Company upped their target price on shares of Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $100.00 price target on shares of Insmed in a report on Wednesday, March 19th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $94.00.

Insmed Stock Down 3.9 %

INSM stock opened at $65.63 on Friday. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $84.91. The firm has a market capitalization of $11.93 billion, a PE ratio of -11.74 and a beta of 0.84. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a 50-day simple moving average of $72.61 and a two-hundred day simple moving average of $73.32.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same period in the previous year, the company earned ($1.06) EPS. Insmed’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities analysts predict that Insmed Incorporated will post -4.56 EPS for the current fiscal 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.