Insmed, Inc. $INSM Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. lowered its position in shares of Insmed, Inc. (NASDAQ:INSM) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 342,785 shares of the biopharmaceutical company’s stock after selling 23,042 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.16% of Insmed worth $49,365,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of INSM. Spire Wealth Management raised its holdings in Insmed by 11.5% in the third quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock valued at $112,000 after buying an additional 80 shares during the period. MassMutual Private Wealth & Trust FSB boosted its position in Insmed by 59.6% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after purchasing an additional 81 shares during the period. Moody Aldrich Partners LLC increased its stake in shares of Insmed by 2.4% in the third quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock valued at $799,000 after purchasing an additional 132 shares during the period. AlphaQuest LLC grew its position in 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 buying an additional 150 shares in the last quarter. Finally, Whittier Trust Co. of Nevada Inc. raised 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 worth $38,000 after buying an additional 151 shares in the last quarter.

Insider Activity

In other news, insider Michael Alexander Smith sold 640 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The shares were sold at an average price of $156.27, for a total value of $100,012.80. Following the sale, the insider directly owned 56,397 shares in the company, valued at approximately $8,813,159.19. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Sara Bonstein sold 748 shares of the 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 directly owned 79,758 shares of the company’s stock, valued at approximately $12,469,365.72. The trade was a 0.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders have sold 274,857 shares of company stock worth $50,121,247. Insiders own 3.00% of the company’s stock.

Insmed Trading Down 0.2%

NASDAQ INSM opened at $149.54 on Tuesday. The company has a market cap of $31.89 billion, a PE ratio of -24.16 and a beta of 1.11. The stock has a 50 day moving average of $173.66 and a 200-day moving average of $161.05. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $212.75. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the company. Royal Bank Of Canada increased their target price on Insmed from $197.00 to $200.00 and gave the company an “outperform” rating in a report on Wednesday, January 21st. Guggenheim dropped their target price on shares of Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. The Goldman Sachs Group raised their price objective on shares of Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a research note on Monday, December 15th. HC Wainwright decreased their price target on shares of Insmed from $240.00 to $230.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. Finally, UBS Group lowered their price objective on Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Three investment analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $203.45.

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.