Allianz Asset Management GmbH Reduces Holdings in Insmed, Inc. $INSM

Allianz Asset Management GmbH reduced its position in Insmed, Inc. (NASDAQ:INSM) by 17.8% in the 3rd quarter, Holdings Channel reports. The firm owned 66,083 shares of the biopharmaceutical company’s stock after selling 14,339 shares during the period. Allianz Asset Management GmbH’s holdings in Insmed were worth $9,517,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Spire Wealth Management lifted its stake in Insmed by 11.5% in the third quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 80 shares during the last quarter. MassMutual Private Wealth & Trust FSB raised its position in Insmed by 59.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 81 shares during the last quarter. Moody Aldrich Partners LLC boosted its stake in Insmed by 2.4% during the 3rd quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock worth $799,000 after purchasing an additional 132 shares during the period. AlphaQuest LLC grew its position in Insmed by 109.5% during the 3rd quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 150 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. increased its stake in Insmed by 169.7% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after purchasing an additional 151 shares during the period.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on INSM. Wells Fargo & Company set a $195.00 price target on Insmed in a report on Thursday, December 18th. Wedbush set a $203.00 price target on Insmed in a report on Thursday, December 18th. Barclays began coverage on shares of Insmed in a research note on Tuesday, January 27th. They issued an “overweight” rating and a $231.00 price objective on the stock. HC Wainwright reduced their target price on shares of Insmed from $240.00 to $230.00 and set a “buy” rating for the company in a research note on Thursday, December 18th. Finally, Jefferies Financial Group set a $269.00 price target on shares of Insmed in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $203.45.

Insider Transactions at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of Insmed stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the completion of the transaction, the insider directly owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. The trade was a 67.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Elizabeth M. Anderson sold 10,000 shares of the company’s stock in a transaction on Friday, November 14th. The shares were sold at an average price of $195.87, for a total value of $1,958,700.00. Following the completion of the sale, the director directly owned 63,729 shares in the company, valued at $12,482,599.23. This trade represents a 13.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 274,857 shares of company stock valued at $50,121,247. Company insiders own 3.00% of the company’s stock.

Insmed Trading Down 0.8%

Shares of INSM opened at $149.86 on Monday. The firm’s 50-day moving average is $174.90 and its two-hundred day moving average is $160.73. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $31.96 billion, a P/E ratio of -24.21 and a beta of 1.11.

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.