Oak Ridge Investments LLC Sells 1,718 Shares of Insmed Incorporated (NASDAQ:INSM)

Oak Ridge Investments LLC cut its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 2.9% during the fourth quarter, Holdings Channel.com reports. The firm owned 56,636 shares of the biopharmaceutical company’s stock after selling 1,718 shares during the period. Oak Ridge Investments LLC’s holdings in Insmed were worth $3,910,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Darwin Global Management Ltd. purchased a new stake in Insmed in the second quarter valued at about $237,076,000. Vestal Point Capital LP raised its position in shares of Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Clearbridge Investments LLC boosted its stake in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after purchasing an additional 714,539 shares in the last quarter. Farallon Capital Management LLC purchased a new stake in Insmed during the 2nd quarter worth approximately $38,056,000. Finally, Fred Alger Management LLC acquired a new position in Insmed during the 2nd quarter valued at approximately $33,404,000.

Analyst Ratings Changes

Several research firms have recently commented on INSM. Bank of America lifted their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Truist Financial reissued a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 31,805 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $70.18, for a total transaction of $2,232,074.90. Following the transaction, the chief executive officer now owns 379,534 shares of the company’s stock, valued at $26,635,696.12. This represents a 7.73 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, insider Martina M.D. Flammer sold 1,384 shares of the company’s stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $68.72, for a total transaction of $95,108.48. Following the transaction, the insider now directly owns 100,165 shares of the company’s stock, valued at $6,883,338.80. This trade represents a 1.36 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 104,740 shares of company stock valued at $7,161,294. Corporate insiders own 4.60% of the company’s stock.

Insmed Stock Down 0.3 %

Shares of NASDAQ INSM opened at $72.51 on Friday. The business has a 50-day moving average of $71.18 and a two-hundred day moving average of $72.57. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. During the same quarter in the prior year, the firm earned ($1.10) earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. Research analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.