First Trust Advisors LP Cuts Holdings in Insmed, Inc. $INSM

First Trust Advisors LP reduced its position in Insmed, Inc. (NASDAQ:INSM) by 7.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 229,563 shares of the biopharmaceutical company’s stock after selling 18,377 shares during the period. First Trust Advisors LP owned 0.11% of Insmed worth $37,538,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in INSM. ABN Amro Investment Solutions grew its holdings in Insmed by 31.6% during the 1st quarter. ABN Amro Investment Solutions now owns 13,143 shares of the biopharmaceutical company’s stock valued at $2,149,000 after buying an additional 3,154 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Insmed by 29.9% during the 1st quarter. PNC Financial Services Group Inc. now owns 8,910 shares of the biopharmaceutical company’s stock worth $1,457,000 after acquiring an additional 2,050 shares in the last quarter. Andra AP fonden boosted its position in shares of Insmed by 114.8% during the 1st quarter. Andra AP fonden now owns 77,970 shares of the biopharmaceutical company’s stock valued at $12,750,000 after acquiring an additional 41,670 shares during the last quarter. WCM Investment Management LLC boosted its position in shares of Insmed by 51.5% during the 1st quarter. WCM Investment Management LLC now owns 15,707 shares of the biopharmaceutical company’s stock valued at $2,408,000 after acquiring an additional 5,339 shares during the last quarter. Finally, Dimensional Fund Advisors LP grew its holdings in shares of Insmed by 0.5% in the first quarter. Dimensional Fund Advisors LP now owns 400,900 shares of the biopharmaceutical company’s stock valued at $65,474,000 after purchasing an additional 1,827 shares in the last quarter.

Insmed Price Performance

INSM stock opened at $104.73 on Tuesday. The stock has a market cap of $22.70 billion, a PE ratio of -18.21 and a beta of 0.78. Insmed, Inc. has a 12 month low of $90.39 and a 12 month high of $212.75. The company has a 50-day moving average price of $105.15 and a 200 day moving average price of $132.75. The company has a current ratio of 4.47, a quick ratio of 4.10 and a debt-to-equity ratio of 0.80.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.90) by $0.14. The company had revenue of $305.96 million for the quarter, compared to analyst estimates of $300.81 million. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The firm’s revenue for the quarter was up 229.7% on a year-over-year basis. During the same period in the prior year, the company posted ($1.42) EPS. Equities research analysts anticipate that Insmed, Inc. will post -2.43 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on INSM shares. Barclays increased their price objective on shares of Insmed from $231.00 to $237.00 and gave the company an “overweight” rating in a research report on Wednesday, April 1st. JPMorgan Chase & Co. decreased their target price on shares of Insmed from $180.00 to $179.00 and set an “overweight” rating on the stock in a research report on Monday, June 8th. Raymond James Financial assumed coverage on shares of Insmed in a report on Friday, April 10th. They issued an “outperform” rating and a $200.00 price target for the company. Mizuho set a $192.00 price target on Insmed in a research report on Tuesday, June 16th. Finally, HC Wainwright reissued a “buy” rating and set a $220.00 price objective on shares of Insmed in a research note on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of “Buy” and a consensus price target of $209.13.

Insiders Place Their Bets

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

About Insmed

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.