Royce & Associates LP Sells 5,000 Shares of Insmed Incorporated (NASDAQ:INSM)

Royce & Associates LP decreased its holdings in Insmed Incorporated (NASDAQ:INSM) by 5.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,027 shares of the biopharmaceutical company’s stock after selling 5,000 shares during the period. Royce & Associates LP owned 0.05% of Insmed worth $6,215,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Atria Investments Inc raised its position in Insmed by 61.7% during the third quarter. Atria Investments Inc now owns 4,985 shares of the biopharmaceutical company’s stock valued at $364,000 after purchasing an additional 1,902 shares during the period. GSA Capital Partners LLP purchased a new stake in Insmed during the 3rd quarter valued at $376,000. Oppenheimer Asset Management Inc. lifted its position in Insmed by 115.7% in the third quarter. Oppenheimer Asset Management Inc. now owns 14,449 shares of the biopharmaceutical company’s stock worth $1,055,000 after buying an additional 7,751 shares during the last quarter. KBC Group NV boosted its stake in Insmed by 20.4% during the third quarter. KBC Group NV now owns 4,310 shares of the biopharmaceutical company’s stock worth $315,000 after buying an additional 730 shares during the period. Finally, OneDigital Investment Advisors LLC bought a new position in Insmed during the third quarter valued at $232,000.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 33,055 shares of Insmed stock in a transaction on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $2,674,149.50. Following the transaction, the insider now directly owns 138,053 shares of the company’s stock, valued at approximately $11,168,487.70. The trade was a 19.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William Lewis sold 2,978 shares of the company’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the transaction, the chief executive officer now directly owns 392,589 shares in the company, valued at approximately $24,874,439.04. The trade was a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 550,957 shares of company stock worth $42,859,028. 4.60% of the stock is owned by corporate insiders.

Insmed Price Performance

Shares of INSM opened at $76.99 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a 50 day moving average price of $76.61 and a 200-day moving average price of $73.70. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. The stock has a market capitalization of $13.94 billion, a PE ratio of -13.77 and a beta of 1.28.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.17) by ($0.15). The company had revenue of $104.44 million during the quarter, compared to analysts’ expectations of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Equities analysts predict that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the stock. UBS Group raised 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. Truist Financial raised their price objective on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Guggenheim reaffirmed a “buy” rating and set a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, February 21st. Finally, Royal Bank of Canada began coverage on Insmed in a report on Tuesday, February 25th. They set an “outperform” rating and a $100.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $93.33.

Insmed 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.