New York Life Investment Management LLC Reduces Stake in Insmed, Inc. $INSM

New York Life Investment Management LLC trimmed its stake in Insmed, Inc. (NASDAQ:INSM) by 93.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,261 shares of the biopharmaceutical company’s stock after selling 17,916 shares during the period. New York Life Investment Management LLC’s holdings in Insmed were worth $219,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Insmed by 5.7% in the 4th quarter. Vanguard Group Inc. now owns 21,076,344 shares of the biopharmaceutical company’s stock valued at $3,668,127,000 after buying an additional 1,140,524 shares during the last quarter. Darwin Global Management Ltd. grew its position in shares of Insmed by 5.8% in the 3rd quarter. Darwin Global Management Ltd. now owns 20,457,445 shares of the biopharmaceutical company’s stock valued at $2,897,797,000 after buying an additional 1,112,824 shares during the last quarter. Capital International Investors grew its position in shares of Insmed by 1.0% in the 3rd quarter. Capital International Investors now owns 7,553,853 shares of the biopharmaceutical company’s stock valued at $1,087,830,000 after buying an additional 74,994 shares during the last quarter. Artisan Partners Limited Partnership grew its position in shares of Insmed by 49.0% in the 3rd quarter. Artisan Partners Limited Partnership now owns 4,937,683 shares of the biopharmaceutical company’s stock valued at $711,076,000 after buying an additional 1,623,342 shares during the last quarter. Finally, Duquesne Family Office LLC grew its position in shares of Insmed by 3.0% in the 3rd quarter. Duquesne Family Office LLC now owns 2,423,435 shares of the biopharmaceutical company’s stock valued at $348,999,000 after buying an additional 70,000 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the stock. Morgan Stanley raised shares of Insmed from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $166.00 to $212.00 in a research report on Monday, March 30th. Stifel Nicolaus raised their price target on Insmed from $205.00 to $208.00 and gave the stock a “buy” rating in a research note on Tuesday, March 24th. Barclays raised their price target on Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 1st. Raymond James Financial initiated coverage on Insmed in a research note on Friday, April 10th. They set an “outperform” rating and a $200.00 price target on the stock. Finally, Guggenheim dropped their price target on Insmed from $230.00 to $226.00 and set a “buy” rating on the stock in a research note on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $210.95.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 10,699 shares of Insmed stock in a transaction that occurred on Thursday, April 16th. The stock was sold at an average price of $143.97, for a total value of $1,540,335.03. Following the transaction, the chief executive officer directly owned 301,185 shares in the company, valued at approximately $43,361,604.45. This trade represents a 3.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, COO Roger Adsett sold 88,060 shares of Insmed stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $164.63, for a total value of $14,497,317.80. Following the completion of the transaction, the chief operating officer owned 106,810 shares in the company, valued at $17,584,130.30. This trade represents a 45.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 150,494 shares of company stock worth $23,846,784. 2.10% of the stock is currently owned by insiders.

Insmed Trading Up 0.5%

Shares of Insmed stock opened at $107.91 on Thursday. Insmed, Inc. has a 1 year low of $64.85 and a 1 year high of $212.75. The company has a debt-to-equity ratio of 0.80, a quick ratio of 4.10 and a current ratio of 4.47. The company has a market capitalization of $23.39 billion, a P/E ratio of -18.77 and a beta of 0.89. The company’s fifty day moving average is $139.24 and its two-hundred day moving average is $161.82.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The company had revenue of $305.96 million for the quarter, compared to the consensus estimate of $300.81 million. During the same period last year, the firm posted ($1.42) EPS. Insmed’s revenue for the quarter was up 229.7% on a year-over-year basis. Analysts forecast that Insmed, Inc. will post -2.52 earnings per share for the current year.

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.