Thrivent Financial for Lutherans Sells 4,070 Shares of Insmed, Inc. $INSM

Thrivent Financial for Lutherans reduced its stake in Insmed, Inc. (NASDAQ:INSM) by 47.6% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,487 shares of the biopharmaceutical company’s stock after selling 4,070 shares during the period. Thrivent Financial for Lutherans’ holdings in Insmed were worth $646,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in INSM. Stone House Investment Management LLC bought a new position in Insmed in the 3rd quarter valued at approximately $29,000. MassMutual Private Wealth & Trust FSB grew its stake in shares of Insmed by 59.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 81 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of Insmed during the second quarter worth $33,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of Insmed by 169.7% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. Finally, AlphaQuest LLC lifted its stake in shares of Insmed by 109.5% in the 3rd quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company’s stock valued at $41,000 after acquiring an additional 150 shares during the last quarter.

Insider Buying and Selling

In other Insmed news, CFO Sara Bonstein sold 748 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.34, for a total transaction of $116,942.32. Following the completion of the transaction, the chief financial officer owned 79,758 shares in the company, valued at approximately $12,469,365.72. This trade represents a 0.93% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO William Lewis sold 13,396 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $147.79, for a total transaction of $1,979,794.84. Following the completion of the transaction, the chief executive officer owned 301,185 shares in the company, valued at $44,512,131.15. This trade represents a 4.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 173,253 shares of company stock valued at $29,629,842. Insiders own 3.00% of the company’s stock.

Insmed Trading Up 1.8%

NASDAQ INSM opened at $148.75 on Tuesday. The firm has a market capitalization of $31.72 billion, a PE ratio of -24.03 and a beta of 1.11. The business’s 50-day moving average price is $168.10 and its two-hundred day moving average price is $162.59. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $212.75.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INSM shares. Mizuho set a $212.00 price objective on Insmed in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a research note on Thursday, January 22nd. Morgan Stanley upped their price objective on Insmed from $157.00 to $162.00 and gave the company an “equal weight” rating in a research note on Friday, January 30th. Roth Mkm upgraded shares of Insmed to a “strong-buy” rating in a report on Friday, January 23rd. Finally, Truist Financial set a $205.00 target price on shares of Insmed in a research report on Monday, January 12th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and an average price target of $204.24.

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.