Victory Capital Management Inc. Sells 45,382 Shares of Insmed Incorporated (NASDAQ:INSM)

Victory Capital Management Inc. trimmed its holdings in Insmed Incorporated (NASDAQ:INSM) by 10.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410,577 shares of the biopharmaceutical company’s stock after selling 45,382 shares during the quarter. Victory Capital Management Inc. owned approximately 0.23% of Insmed worth $28,346,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in INSM. Vestal Point Capital LP boosted its stake in Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the period. Westfield Capital Management Co. LP bought a new position in Insmed in the 3rd quarter worth approximately $18,377,000. Eventide Asset Management LLC raised its holdings in shares of Insmed by 34.2% during the 3rd quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company’s stock worth $66,167,000 after acquiring an additional 231,210 shares in the last quarter. Principal Financial Group Inc. raised its holdings in shares of Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after acquiring an additional 214,130 shares in the last quarter. Finally, TimesSquare Capital Management LLC raised its holdings in shares of Insmed by 41.4% during the 4th quarter. TimesSquare Capital Management LLC now owns 684,384 shares of the biopharmaceutical company’s stock worth $47,250,000 after acquiring an additional 200,515 shares in the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $73.07 on Tuesday. The stock’s fifty day moving average is $75.74 and its two-hundred day moving average is $73.75. The company has a market capitalization of $13.23 billion, a PE ratio of -13.07 and a beta of 1.28. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91.

Insmed (NASDAQ:INSM) last posted 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). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The firm had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages have recently issued reports on INSM. JPMorgan Chase & Co. upped their price objective on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, February 21st. Wells Fargo & Company upped their price objective on Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. Stifel Nicolaus decreased their price objective on Insmed from $97.00 to $96.00 and set a “buy” rating on the stock in a report on Friday, February 21st. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $93.33.

Insider Transactions at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $77.79, for a total value of $1,458,562.50. Following the completion of the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at approximately $25,996,328.94. This trade represents a 5.31 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Sara Bonstein sold 3,470 shares of the firm’s stock in a transaction dated Tuesday, January 7th. The stock was sold at an average price of $65.70, for a total value of $227,979.00. Following the completion of the transaction, the chief financial officer now owns 114,736 shares of the company’s stock, valued at approximately $7,538,155.20. The trade was a 2.94 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 550,957 shares of company stock valued at $42,859,028. 4.60% of the stock is currently owned by corporate insiders.

Insmed Company 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.