TimesSquare Capital Management LLC Sells 448,406 Shares of Insmed, Inc. $INSM

TimesSquare Capital Management LLC lowered its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 51.3% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 425,085 shares of the biopharmaceutical company’s stock after selling 448,406 shares during the quarter. TimesSquare Capital Management LLC owned approximately 0.20% of Insmed worth $61,216,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the stock. Assetmark Inc. grew its stake in shares of Insmed by 9.9% during the third quarter. Assetmark Inc. now owns 35,294 shares of the biopharmaceutical company’s stock valued at $5,083,000 after purchasing an additional 3,169 shares during the last quarter. Atria Investments Inc boosted its position in Insmed by 27.4% in the 3rd quarter. Atria Investments Inc now owns 21,413 shares of the biopharmaceutical company’s stock valued at $3,084,000 after buying an additional 4,603 shares during the last quarter. Allegheny Financial Group acquired a new stake in shares of Insmed in the 3rd quarter valued at $213,000. ING Groep NV bought a new stake in shares of Insmed during the third quarter worth $53,788,000. Finally, Rhumbline Advisers lifted its stake in shares of Insmed by 2.2% during the third quarter. Rhumbline Advisers now owns 212,903 shares of the biopharmaceutical company’s stock valued at $30,660,000 after acquiring an additional 4,558 shares during the period.

Insmed Trading Up 1.8%

INSM opened at $148.75 on Friday. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The firm has a market cap of $31.72 billion, a PE ratio of -24.03 and a beta of 1.11. 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 firm’s fifty day moving average is $169.05 and its two-hundred day moving average is $161.89.

Insiders Place Their Bets

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of Insmed stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $175.20, for a total value of $15,293,208.00. Following the transaction, the insider owned 41,754 shares of the company’s stock, valued at approximately $7,315,300.80. The trade was a 67.64% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $195.90, for a total value of $14,692,500.00. Following the transaction, the director directly owned 54,677 shares of the company’s stock, valued at approximately $10,711,224.30. This trade represents a 57.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 248,253 shares of company stock worth $44,322,342. Company insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently commented on the company. Guggenheim lowered their price objective on Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. TD Cowen set a $241.00 price target on shares of Insmed in a research report on Thursday, December 18th. The Goldman Sachs Group boosted their price target 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. Jefferies Financial Group set a $269.00 price objective on shares of Insmed in a research note on Wednesday, December 10th. Finally, Wells Fargo & Company set a $195.00 target price on shares of Insmed in a research report on Thursday, December 18th. 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 MarketBeat.com, Insmed currently has an average rating of “Buy” and a consensus target price of $204.24.

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.