Assetmark Inc. Has $5.60 Million Holdings in Insmed, Inc. $INSM

Assetmark Inc. trimmed its holdings in Insmed, Inc. (NASDAQ:INSM) by 13.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 34,258 shares of the biopharmaceutical company’s stock after selling 5,474 shares during the period. Assetmark Inc.’s holdings in Insmed were worth $5,602,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. EverSource Wealth Advisors LLC lifted its holdings in shares of Insmed by 65.6% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock valued at $67,000 after purchasing an additional 263 shares in the last quarter. First Trust Advisors LP raised its holdings in Insmed by 80.8% during the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock worth $4,770,000 after buying an additional 21,176 shares during the period. Baird Financial Group Inc. bought a new position in Insmed in the second quarter valued at approximately $2,589,000. Amundi boosted its holdings in shares of Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares during the period. Finally, Natixis acquired a new position in shares of Insmed in the second quarter valued at approximately $1,072,000.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of research analyst reports. Morgan Stanley upgraded shares of Insmed from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $166.00 to $212.00 in a report on Monday, March 30th. Royal Bank Of Canada lowered their target price on Insmed from $205.00 to $195.00 and set an “outperform” rating for the company in a report on Friday, June 5th. Mizuho set a $192.00 price target on Insmed in a research note on Tuesday, June 16th. Wells Fargo & Company boosted their price target on Insmed from $160.00 to $161.00 and gave the company an “overweight” rating in a report on Wednesday, July 15th. Finally, Barclays upped their price objective on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 1st. One research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $209.13.

Insmed Trading Up 1.5%

Insmed stock opened at $108.62 on Wednesday. The firm has a 50-day moving average of $105.64 and a 200-day moving average of $134.69. Insmed, Inc. has a one year low of $90.39 and a one year high of $212.75. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. The company has a market cap of $23.54 billion, a price-to-earnings ratio of -18.89 and a beta of 0.78.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The business had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same quarter in the previous year, the business earned ($1.42) earnings per share. Insmed’s quarterly revenue was up 229.7% on a year-over-year basis. On average, equities analysts expect that Insmed, Inc. will post -2.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 6,149 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $108.47, for a total transaction of $666,982.03. Following the transaction, the insider owned 41,613 shares of the company’s stock, valued at $4,513,762.11. The trade was a 12.87% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Sara Bonstein sold 2,404 shares of the company’s stock in a transaction that occurred on Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the sale, the chief financial officer owned 69,082 shares in the company, valued at approximately $7,065,016.14. This represents a 3.36% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 54,590 shares of company stock valued at $5,793,738 in the last ninety days. 2.10% of the stock is owned by company insiders.

About Insmed

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.