Assetmark Inc. Sells 5,474 Shares of Insmed, Inc. $INSM

Assetmark Inc. cut its position in Insmed, Inc. (NASDAQ:INSM) by 13.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,258 shares of the biopharmaceutical company’s stock after selling 5,474 shares during the quarter. Assetmark Inc.’s holdings in Insmed were worth $5,602,000 at the end of the most recent reporting period.

Several other institutional investors have also recently bought and sold shares of INSM. EverSource Wealth Advisors LLC grew its holdings in shares of Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after purchasing an additional 263 shares during the last quarter. First Trust Advisors LP lifted its holdings in Insmed by 80.8% during the 2nd quarter. First Trust Advisors LP now owns 47,392 shares of the biopharmaceutical company’s stock valued at $4,770,000 after purchasing an additional 21,176 shares during the last quarter. Baird Financial Group Inc. acquired a new position in Insmed in the second quarter valued at about $2,589,000. Amundi boosted its position in Insmed by 21,194.4% in the second quarter. Amundi now owns 11,499 shares of the biopharmaceutical company’s stock valued at $1,130,000 after buying an additional 11,445 shares in the last quarter. Finally, Natixis bought a new stake in Insmed during the second quarter worth about $1,072,000.

Insider Transactions at Insmed

In related news, CFO Sara Bonstein sold 2,404 shares of Insmed stock in a transaction dated Wednesday, June 3rd. The stock was sold at an average price of $102.27, for a total value of $245,857.08. Following the completion of the sale, the chief financial officer directly owned 69,082 shares in the company, valued at $7,065,016.14. This trade represents a 3.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Michael Alexander Smith sold 1,806 shares of the company’s stock in a transaction on Monday, June 22nd. The shares were sold at an average price of $95.82, for a total transaction of $173,050.92. Following the sale, the insider owned 37,648 shares of the company’s stock, valued at $3,607,431.36. The trade was a 4.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 54,590 shares of company stock valued at $5,793,738 in the last three months. Company insiders own 2.10% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. cut their target price on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating for the company in a research note on Monday, June 8th. Royal Bank Of Canada decreased their price target on Insmed from $205.00 to $195.00 and set an “outperform” rating on the stock in a research report on Friday, June 5th. Truist Financial dropped their price target on Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. Leerink Partners boosted their price objective on Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Insmed has an average rating of “Moderate Buy” and an average target price of $209.13.

Insmed Stock Up 1.5%

NASDAQ:INSM opened at $108.62 on Wednesday. The company has a market cap of $23.54 billion, a price-to-earnings ratio of -18.89 and a beta of 0.78. 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 stock’s fifty day moving average price is $105.64 and its two-hundred day moving average price is $134.69. Insmed, Inc. has a 52-week low of $90.39 and a 52-week high of $212.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, May 7th. The biopharmaceutical company reported ($0.76) EPS for the quarter, beating the consensus estimate of ($0.90) by $0.14. Insmed had a negative return on equity of 130.11% and a negative net margin of 144.44%.The company had revenue of $305.96 million during the quarter, compared to analysts’ expectations of $300.81 million. During the same period last year, the firm earned ($1.42) EPS. The business’s revenue for the quarter was up 229.7% on a year-over-year basis. On average, analysts anticipate that Insmed, Inc. will post -2.43 EPS 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.