Insmed, Inc. $INSM Shares Sold by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. trimmed its holdings in Insmed, Inc. (NASDAQ:INSM) by 76.4% during the third quarter, HoldingsChannel reports. The firm owned 14,973 shares of the biopharmaceutical company’s stock after selling 48,556 shares during the period. EFG Asset Management North America Corp.’s holdings in Insmed were worth $2,156,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in INSM. Wealth Enhancement Advisory Services LLC increased its holdings in shares of Insmed by 17.9% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 4,446 shares of the biopharmaceutical company’s stock valued at $435,000 after purchasing an additional 674 shares during the last quarter. ORG Partners LLC grew its holdings in Insmed by 220.2% in the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock valued at $28,000 after buying an additional 196 shares in the last quarter. Truist Financial Corp increased its stake in shares of Insmed by 3.1% in the 2nd quarter. Truist Financial Corp now owns 46,483 shares of the biopharmaceutical company’s stock worth $4,678,000 after acquiring an additional 1,409 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Insmed by 15.4% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,492 shares of the biopharmaceutical company’s stock worth $754,000 after acquiring an additional 999 shares during the period. Finally, Hilltop National Bank acquired a new position in shares of Insmed during the 2nd quarter valued at about $28,000.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on INSM shares. Jefferies Financial Group set a $269.00 price objective on shares of Insmed in a research report on Wednesday, December 10th. Leerink Partners reissued an “outperform” rating on shares of Insmed in a research note on Thursday, December 18th. Wedbush set a $203.00 price target on shares of Insmed in a report on Thursday, December 18th. Rothschild Redb upgraded Insmed to a “strong-buy” rating in a report on Thursday, December 4th. Finally, TD Cowen set a $241.00 price objective on Insmed in a research report on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $205.83.

Insider Transactions at Insmed

In other Insmed news, COO Roger Adsett sold 2,059 shares of Insmed stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $174.17, for a total value of $358,616.03. Following the completion of the transaction, the chief operating officer directly owned 107,601 shares of the company’s stock, valued at $18,740,866.17. The trade was a 1.88% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Michael Alexander Smith sold 1,053 shares of the stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $174.17, for a total transaction of $183,401.01. Following the sale, the insider directly owned 57,037 shares in the company, valued at $9,934,134.29. This represents a 1.81% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 296,799 shares of company stock worth $54,296,286 over the last quarter. 3.00% of the stock is owned by corporate insiders.

Insmed Stock Performance

Shares of INSM stock opened at $162.64 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The firm has a market cap of $34.69 billion, a P/E ratio of -26.27 and a beta of 1.08. The firm’s 50 day moving average price is $182.87 and its 200-day moving average price is $157.84. Insmed, Inc. has a one year low of $60.40 and a one year high of $212.75.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative net margin of 264.83% and a negative return on equity of 183.55%. The company had revenue of $142.34 million during the quarter, compared to analyst estimates of $114.33 million. During the same quarter last year, the business posted ($1.27) EPS. The firm’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, equities research analysts predict that Insmed, Inc. will post -4.56 EPS for the current year.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.