Neo Ivy Capital Management Sells 7,568 Shares of Insmed, Inc. $INSM

Neo Ivy Capital Management decreased its holdings in shares of Insmed, Inc. (NASDAQ:INSM) by 43.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,688 shares of the biopharmaceutical company’s stock after selling 7,568 shares during the period. Neo Ivy Capital Management’s holdings in Insmed were worth $1,395,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. First Horizon Advisors Inc. boosted its holdings in Insmed by 24.8% during the second quarter. First Horizon Advisors Inc. now owns 936 shares of the biopharmaceutical company’s stock valued at $94,000 after purchasing an additional 186 shares in the last quarter. Savant Capital LLC acquired a new position in shares of Insmed in the 2nd quarter worth approximately $205,000. Los Angeles Capital Management LLC raised its holdings in shares of Insmed by 2,637.5% in the 2nd quarter. Los Angeles Capital Management LLC now owns 330,800 shares of the biopharmaceutical company’s stock worth $33,292,000 after buying an additional 318,716 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. lifted its position in shares of Insmed by 1,393.4% during the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 226,142 shares of the biopharmaceutical company’s stock worth $22,759,000 after buying an additional 210,999 shares during the period. Finally, Pier 88 Investment Partners LLC bought a new position in shares of Insmed during the 2nd quarter worth approximately $652,000.

Insmed Stock Down 2.4%

Shares of NASDAQ INSM opened at $140.13 on Friday. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $212.75. The firm’s 50-day simple moving average is $158.58 and its 200 day simple moving average is $165.58. The company has a quick ratio of 3.54, a current ratio of 3.83 and a debt-to-equity ratio of 0.76. The company has a market cap of $30.21 billion, a price-to-earnings ratio of -21.86 and a beta of 1.13.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 168.36% and a negative net margin of 210.54%.The company had revenue of $263.84 million during the quarter, compared to the consensus estimate of $263.97 million. During the same period in the prior year, the firm posted ($1.32) earnings per share. The company’s revenue was up 152.6% on a year-over-year basis. On average, research analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CEO William Lewis sold 19,215 shares of Insmed stock in a transaction on Monday, January 12th. The stock was sold at an average price of $169.00, for a total value of $3,247,335.00. Following the completion of the sale, the chief executive officer directly owned 306,891 shares of the company’s stock, valued at approximately $51,864,579. This trade represents a 5.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the business’s stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total value of $15,293,208.00. Following the sale, 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 position. The SEC filing for this sale provides additional information. Insiders sold a total of 189,651 shares of company stock worth $31,784,545 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on INSM. Wells Fargo & Company lowered their price target on Insmed from $234.00 to $208.00 and set an “overweight” rating on the stock in a research report on Friday, February 20th. Barclays assumed coverage on shares of Insmed in a research report on Tuesday, January 27th. They set an “overweight” rating and a $231.00 target price for the company. Morgan Stanley set a $166.00 price target on shares of Insmed in a research report on Friday, February 20th. 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 report on Monday, December 15th. Finally, HC Wainwright reiterated a “buy” rating and issued a $230.00 target price on shares of Insmed in a research note on Monday, February 23rd. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $207.52.

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.