Profund Advisors LLC Sells 2,880 Shares of Insmed Incorporated (NASDAQ:INSM)

Profund Advisors LLC reduced its position in shares of Insmed Incorporated (NASDAQ:INSM) by 4.0% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 68,515 shares of the biopharmaceutical company’s stock after selling 2,880 shares during the quarter. Profund Advisors LLC’s holdings in Insmed were worth $1,446,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Assenagon Asset Management S.A. raised its holdings in Insmed by 26.6% during the 2nd quarter. Assenagon Asset Management S.A. now owns 1,782,054 shares of the biopharmaceutical company’s stock worth $37,601,000 after purchasing an additional 374,715 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Insmed by 9.3% in the 1st quarter. William Blair Investment Management LLC now owns 3,706,678 shares of the biopharmaceutical company’s stock valued at $63,199,000 after acquiring an additional 316,513 shares during the last quarter. Long Focus Capital Management LLC increased its stake in shares of Insmed by 11.3% in the 1st quarter. Long Focus Capital Management LLC now owns 361,649 shares of the biopharmaceutical company’s stock valued at $6,166,000 after acquiring an additional 36,649 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of Insmed by 434.7% in the 1st quarter. SG Americas Securities LLC now owns 55,152 shares of the biopharmaceutical company’s stock valued at $940,000 after acquiring an additional 44,838 shares during the last quarter. Finally, Atom Investors LP increased its stake in shares of Insmed by 75.4% in the 1st quarter. Atom Investors LP now owns 40,224 shares of the biopharmaceutical company’s stock valued at $686,000 after acquiring an additional 17,293 shares during the last quarter.

Insider Transactions at Insmed

In other news, CEO William Lewis sold 112,000 shares of the firm’s stock in a transaction that occurred on Friday, October 27th. The shares were sold at an average price of $24.08, for a total transaction of $2,696,960.00. Following the completion of the transaction, the chief executive officer now directly owns 342,648 shares of the company’s stock, valued at approximately $8,250,963.84. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.30% of the company’s stock.

Insmed Stock Down 0.8 %

Shares of INSM opened at $24.62 on Tuesday. The stock has a market capitalization of $3.52 billion, a P/E ratio of -4.67 and a beta of 1.40. Insmed Incorporated has a twelve month low of $16.04 and a twelve month high of $27.59. The company has a 50 day moving average of $25.08 and a 200-day moving average of $22.34.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 26th. The biopharmaceutical company reported ($1.10) earnings per share for the quarter, missing the consensus estimate of ($1.06) by ($0.04). The business had revenue of $79.07 million for the quarter, compared to the consensus estimate of $78.86 million. Insmed had a negative return on equity of 3,789.32% and a negative net margin of 257.69%. On average, sell-side analysts anticipate that Insmed Incorporated will post -5.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on INSM shares. Guggenheim upped their price target on Insmed from $50.00 to $52.00 and gave the company a “buy” rating in a research note on Tuesday, September 5th. Morgan Stanley reaffirmed an “overweight” rating and issued a $41.00 price target on shares of Insmed in a research note on Friday, August 4th. Bank of America upped their price target on Insmed from $35.00 to $37.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. Evercore ISI upped their price target on Insmed from $32.00 to $42.00 and gave the company an “outperform” rating in a research note on Thursday, September 7th. Finally, HC Wainwright reissued a “buy” rating and set a $52.00 target price on shares of Insmed in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $41.27.

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.