Trexquant Investment LP Cuts Stake in Insmed Incorporated (NASDAQ:INSM)

Trexquant Investment LP cut its stake in Insmed Incorporated (NASDAQ:INSM) by 64.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 105,482 shares of the biopharmaceutical company’s stock after selling 189,511 shares during the quarter. Trexquant Investment LP owned approximately 0.07% of Insmed worth $3,269,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Walleye Capital LLC purchased a new position in shares of Insmed in the third quarter valued at approximately $1,820,000. Jennison Associates LLC purchased a new position in Insmed in the 4th quarter valued at $3,745,000. Graham Capital Management L.P. lifted its holdings in Insmed by 352.5% in the 3rd quarter. Graham Capital Management L.P. now owns 43,605 shares of the biopharmaceutical company’s stock valued at $1,101,000 after purchasing an additional 33,969 shares in the last quarter. Vanguard Group Inc. boosted its stake in Insmed by 7.7% during the 3rd quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company’s stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Insmed by 8.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,099,807 shares of the biopharmaceutical company’s stock worth $27,770,000 after buying an additional 88,589 shares in the last quarter.

Analyst Ratings Changes

Several equities analysts have recently weighed in on INSM shares. StockNews.com raised shares of Insmed from a “sell” rating to a “hold” rating in a research note on Tuesday, May 14th. Wolfe Research initiated coverage on Insmed in a report on Thursday, February 15th. They set an “outperform” rating and a $42.00 target price on the stock. Wells Fargo & Company reaffirmed an “overweight” rating and issued a $55.00 price target on shares of Insmed in a report on Monday, April 1st. Morgan Stanley boosted their price objective on Insmed from $40.00 to $43.00 and gave the stock an “overweight” rating in a research note on Friday, May 10th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $52.00 target price on shares of Insmed in a research note on Tuesday, May 14th. One investment analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $44.71.

Insider Activity at Insmed

In other Insmed news, CEO William Lewis sold 22,198 shares of Insmed stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total value of $566,492.96. Following the completion of the transaction, the chief executive officer now directly owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Insmed news, CEO William Lewis sold 22,198 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The shares were sold at an average price of $25.52, for a total value of $566,492.96. Following the completion of the transaction, the chief executive officer now owns 384,125 shares of the company’s stock, valued at approximately $9,802,870. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider John Drayton Wise sold 5,088 shares of the company’s stock in a transaction on Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total value of $129,591.36. Following the sale, the insider now directly owns 123,259 shares in the company, valued at approximately $3,139,406.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 46,231 shares of company stock worth $1,177,186. 4.60% of the stock is currently owned by company insiders.

Insmed Price Performance

Shares of INSM opened at $23.60 on Friday. The firm has a 50-day simple moving average of $26.11 and a two-hundred day simple moving average of $27.10. The stock has a market cap of $3.51 billion, a PE ratio of -4.51 and a beta of 0.93. Insmed Incorporated has a 1-year low of $18.31 and a 1-year high of $32.00.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, May 9th. The biopharmaceutical company reported ($1.06) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. During the same quarter last year, the business posted ($1.17) EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, sell-side analysts expect that Insmed Incorporated will post -4.52 earnings per share for the current fiscal year.

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.