Shell Asset Management Co. Reduces Stake in Insmed, Inc. $INSM

Shell Asset Management Co. lowered its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 58.1% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,604 shares of the biopharmaceutical company’s stock after selling 4,988 shares during the quarter. Shell Asset Management Co.’s holdings in Insmed were worth $519,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Stone House Investment Management LLC bought a new position in shares of Insmed during the third quarter valued at approximately $29,000. SBI Securities Co. Ltd. grew its holdings in Insmed by 404.9% during the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter. MassMutual Private Wealth & Trust FSB increased its holdings in Insmed by 59.6% during the third quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock valued at $31,000 after buying an additional 81 shares during the period. Whittier Trust Co. of Nevada Inc. increased its holdings 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 period. Finally, AlphaQuest LLC raised its holdings in Insmed by 109.5% in the third quarter. AlphaQuest LLC now owns 287 shares of the biopharmaceutical company’s stock worth $41,000 after purchasing an additional 150 shares in the last quarter.

Insmed Stock Performance

Shares of Insmed stock opened at $150.52 on Wednesday. The business’s 50 day moving average price is $167.22 and its 200 day moving average price is $162.88. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The company has a market cap of $32.10 billion, a price-to-earnings ratio of -24.32 and a beta of 1.11. Insmed, Inc. has a one year low of $60.40 and a one year high of $212.75.

Analyst Ratings Changes

Several brokerages have recently commented on INSM. Wells Fargo & Company set a $195.00 price objective on Insmed in a report on Thursday, December 18th. Cantor Fitzgerald upped their price objective on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Insmed in a report on Thursday, January 22nd. The Goldman Sachs Group raised their price target on shares of Insmed from $225.00 to $258.00 and gave the company a “buy” rating in a research report on Monday, December 15th. Finally, Truist Financial set a $205.00 price objective on Insmed in a research report on Monday, January 12th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $204.24.

Insider Buying and Selling at Insmed

In related news, Director Elizabeth M. Anderson sold 5,000 shares of the firm’s stock in a transaction dated Monday, November 24th. The stock was sold at an average price of $204.58, for a total transaction of $1,022,900.00. Following the completion of the sale, the director directly owned 58,729 shares of the company’s stock, valued at approximately $12,014,778.82. This trade represents a 7.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis sold 19,215 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $169.00, for a total transaction of $3,247,335.00. Following the completion of the sale, the chief executive officer directly owned 306,891 shares in the company, valued at $51,864,579. This trade represents a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 173,253 shares of company stock worth $29,629,842 in the last ninety days. 3.00% of the stock is owned by insiders.

Insmed Company 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.