Insmed, Inc. $INSM Shares Sold by Castleark Management LLC

Castleark Management LLC trimmed its position in shares of Insmed, Inc. (NASDAQ:INSM) by 94.2% in the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,140 shares of the biopharmaceutical company’s stock after selling 50,720 shares during the quarter. Castleark Management LLC’s holdings in Insmed were worth $316,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Insmed during the first quarter worth $1,155,000. Aberdeen Group plc boosted its position in Insmed by 16.1% during the first quarter. Aberdeen Group plc now owns 336,357 shares of the biopharmaceutical company’s stock worth $25,661,000 after acquiring an additional 46,704 shares during the last quarter. American Century Companies Inc. boosted its position in Insmed by 7.3% during the first quarter. American Century Companies Inc. now owns 872,123 shares of the biopharmaceutical company’s stock worth $66,534,000 after acquiring an additional 59,343 shares during the last quarter. Raymond James Financial Inc. grew its stake in Insmed by 9.2% during the 1st quarter. Raymond James Financial Inc. now owns 408,937 shares of the biopharmaceutical company’s stock valued at $31,197,000 after acquiring an additional 34,491 shares in the last quarter. Finally, Northwest & Ethical Investments L.P. raised its holdings in Insmed by 42.9% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 1,500 shares of the biopharmaceutical company’s stock valued at $114,000 after acquiring an additional 450 shares during the last quarter.

Insmed Price Performance

NASDAQ:INSM opened at $197.01 on Monday. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75. The stock’s fifty day moving average is $185.10 and its two-hundred day moving average is $139.92. The company has a market capitalization of $42.02 billion, a P/E ratio of -31.83 and a beta of 1.01. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The business had revenue of $142.34 million for the quarter, compared to analysts’ expectations of $114.33 million. During the same quarter in the prior year, the company posted ($1.27) earnings per share. The business’s revenue for the quarter was up 52.4% compared to the same quarter last year. Equities analysts expect that Insmed, Inc. will post -4.56 EPS for the current year.

Analyst Upgrades and Downgrades

INSM has been the topic of several recent research reports. UBS Group boosted their target price on Insmed from $194.00 to $223.00 and gave the stock a “buy” rating in a report on Friday, October 31st. Rothschild Redb upgraded Insmed to a “strong-buy” rating in a research report on Thursday, December 4th. Evercore ISI restated an “outperform” rating and issued a $180.00 target price on shares of Insmed in a report on Wednesday, October 1st. Bank of America raised their target price on Insmed from $142.00 to $187.00 and gave the stock a “buy” rating in a research note on Monday, October 27th. Finally, Royal Bank Of Canada boosted their price target on shares of Insmed from $139.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $196.26.

Insider Activity at Insmed

In other Insmed news, Director Elizabeth M. Anderson sold 5,000 shares of the business’s stock in a transaction that occurred on Monday, November 24th. The stock was sold at an average price of $204.58, for a total value of $1,022,900.00. Following the sale, the director owned 58,729 shares of the company’s stock, valued at $12,014,778.82. The trade was a 7.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Orlov S. Nicole Schaeffer sold 30,000 shares of the company’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $194.00, for a total value of $5,820,000.00. Following the transaction, the insider owned 36,461 shares in the company, valued at $7,073,434. This trade represents a 45.14% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 147,130 shares of company stock valued at $28,480,051 over the last 90 days. Insiders own 3.00% of the company’s stock.

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.