Oak Ridge Investments LLC Sells 12,052 Shares of Insmed, Inc. $INSM

Oak Ridge Investments LLC cut its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 35.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 22,136 shares of the biopharmaceutical company’s stock after selling 12,052 shares during the period. Oak Ridge Investments LLC’s holdings in Insmed were worth $3,188,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in Insmed during the second quarter valued at $194,728,000. Orbis Allan Gray Ltd bought a new position in shares of Insmed during the 2nd quarter worth approximately $153,389,000. Qube Research & Technologies Ltd bought a new position in Insmed during the second quarter worth $108,898,000. HRT Financial LP acquired a new stake in Insmed in the second quarter worth $73,426,000. Finally, Alkeon Capital Management LLC acquired a new stake in Insmed in the second quarter worth $50,320,000.

Insmed Price Performance

INSM opened at $161.42 on Friday. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. The company has a market capitalization of $34.43 billion, a price-to-earnings ratio of -26.08 and a beta of 1.08. The firm’s fifty day moving average price is $187.73 and its two-hundred day moving average price is $154.36.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS 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 firm had revenue of $142.34 million during the quarter, compared to analysts’ expectations of $114.33 million. During the same quarter in the prior year, the company earned ($1.27) EPS. The business’s revenue for the quarter was up 52.4% on a year-over-year basis. As a group, analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Activity

In other Insmed news, insider Michael Alexander Smith sold 27,130 shares of the company’s stock in a transaction dated Monday, November 3rd. The shares were sold at an average price of $183.78, for a total transaction of $4,985,951.40. Following the sale, the insider directly owned 54,902 shares of the company’s stock, valued at $10,089,889.56. This represents a 33.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of Insmed stock in a transaction dated 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 owned 41,754 shares of the company’s stock, valued at $7,315,300.80. The trade was a 67.64% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 286,100 shares of company stock worth $52,595,894. 3.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on INSM shares. Mizuho set a $212.00 target price on Insmed in a research note on Thursday, December 18th. Royal Bank Of Canada reduced their price objective on Insmed from $215.00 to $195.00 and set an “outperform” rating for the company in a research note on Thursday, December 18th. UBS Group lowered their target price on Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research report on Wednesday, October 8th. Finally, Evercore ISI restated an “outperform” rating and set a $180.00 price objective on shares of Insmed in a report on Wednesday, October 1st. Two analysts have rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $205.77.

Insmed 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.