SG Americas Securities LLC Reduces Stock Position in Insmed, Inc. (NASDAQ:INSM)

SG Americas Securities LLC lowered its stake in Insmed, Inc. (NASDAQ:INSM) by 13.9% during the 1st quarter, HoldingsChannel reports. The firm owned 4,195 shares of the biopharmaceutical company’s stock after selling 680 shares during the period. SG Americas Securities LLC’s holdings in Insmed were worth $320,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elequin Capital LP purchased a new stake in Insmed in the fourth quarter worth approximately $28,000. Steward Partners Investment Advisory LLC boosted its stake in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after acquiring an additional 163 shares during the last quarter. NBC Securities Inc. purchased a new position in shares of Insmed during the 1st quarter worth $49,000. Versant Capital Management Inc boosted its stake in shares of Insmed by 546.3% during the 1st quarter. Versant Capital Management Inc now owns 698 shares of the biopharmaceutical company’s stock worth $53,000 after acquiring an additional 590 shares during the last quarter. Finally, Smartleaf Asset Management LLC boosted its stake in shares of Insmed by 98.1% during the 4th quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after acquiring an additional 411 shares during the last quarter.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $104.85 on Thursday. The company has a debt-to-equity ratio of 11.38, a quick ratio of 5.44 and a current ratio of 5.86. The company has a market cap of $19.89 billion, a P/E ratio of -17.62 and a beta of 0.80. The firm’s fifty day moving average is $76.88 and its two-hundred day moving average is $75.15. Insmed, Inc. has a 52-week low of $60.40 and a 52-week high of $106.83.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). The company had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The business’s revenue was up 22.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.06) earnings per share. As a group, analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Analysts Set New Price Targets

INSM has been the topic of several analyst reports. Leerink Partners lifted their price target on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Royal Bank Of Canada lifted their price target on shares of Insmed from $99.00 to $106.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. The Goldman Sachs Group lifted their price target on shares of Insmed from $100.00 to $112.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. HC Wainwright lifted their price target on shares of Insmed from $90.00 to $120.00 and gave the stock a “buy” rating in a research note on Wednesday, June 11th. Finally, Mizuho lifted their price target on shares of Insmed from $96.00 to $110.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $106.80.

Insider Buying and Selling at Insmed

In other Insmed news, Director Clarissa Desjardins bought 1,895 shares of the firm’s stock in a transaction dated Tuesday, May 20th. The shares were purchased at an average cost of $66.87 per share, for a total transaction of $126,718.65. Following the transaction, the director now owns 1,895 shares of the company’s stock, valued at $126,718.65. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Sara Bonstein sold 57,765 shares of the company’s stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $101.78, for a total transaction of $5,879,321.70. Following the sale, the chief financial officer now owns 93,536 shares in the company, valued at $9,520,094.08. This represents a 38.18% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 488,752 shares of company stock worth $43,199,826. Insiders own 3.00% of the company’s stock.

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.