Pitcairn Co. Sells 1,279 Shares of Insmed Incorporated (NASDAQ:INSM)

Pitcairn Co. decreased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 17.4% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 6,079 shares of the biopharmaceutical company’s stock after selling 1,279 shares during the quarter. Pitcairn Co.’s holdings in Insmed were worth $444,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Kennedy Capital Management LLC bought a new position in shares of Insmed during the 1st quarter valued at about $267,000. Russell Investments Group Ltd. boosted its stake in Insmed by 15,915.2% during the first quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after buying an additional 21,963 shares during the last quarter. TimesSquare Capital Management LLC purchased a new position in Insmed during the 3rd quarter valued at approximately $35,322,000. &PARTNERS bought a new stake in Insmed in the 2nd quarter worth approximately $300,000. Finally, Jennison Associates LLC raised its holdings in shares of Insmed by 3.4% during the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock worth $56,155,000 after acquiring an additional 24,973 shares in the last quarter.

Analysts Set New Price Targets

INSM has been the topic of several research reports. Stifel Nicolaus boosted their price target on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Truist Financial reiterated a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. UBS Group boosted their price objective on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, Bank of America raised their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insider Buying and Selling

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 over the last three months. 4.60% of the stock is owned by company insiders.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $75.68 on Wednesday. The firm’s 50 day simple moving average is $72.05 and its 200-day simple moving average is $66.93. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53. The firm has a market cap of $13.54 billion, a PE ratio of -13.64 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period in the previous year, the business posted ($1.10) earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, equities analysts predict that Insmed Incorporated will post -5.42 EPS for the current year.

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.