Envestnet Portfolio Solutions Inc. Sells 705 Shares of Insmed, Inc. $INSM

Envestnet Portfolio Solutions Inc. cut its position in shares of Insmed, Inc. (NASDAQ:INSMFree Report) by 12.0% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,191 shares of the biopharmaceutical company’s stock after selling 705 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Insmed were worth $522,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of INSM. GAMMA Investing LLC raised its position in Insmed by 62.0% during the 1st quarter. GAMMA Investing LLC now owns 1,009 shares of the biopharmaceutical company’s stock valued at $77,000 after purchasing an additional 386 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its holdings in Insmed by 16.7% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 3,772 shares of the biopharmaceutical company’s stock worth $288,000 after buying an additional 541 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in Insmed by 37.7% during the first quarter. Oppenheimer Asset Management Inc. now owns 19,935 shares of the biopharmaceutical company’s stock worth $1,521,000 after buying an additional 5,453 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Insmed by 3.7% during the first quarter. Allspring Global Investments Holdings LLC now owns 438,674 shares of the biopharmaceutical company’s stock worth $31,585,000 after buying an additional 15,580 shares during the period. Finally, KBC Group NV lifted its holdings in Insmed by 9.9% during the first quarter. KBC Group NV now owns 7,551 shares of the biopharmaceutical company’s stock worth $576,000 after buying an additional 678 shares during the period.

Insmed Stock Performance

Shares of INSM opened at $165.31 on Wednesday. Insmed, Inc. has a 12 month low of $60.40 and a 12 month high of $168.21. The stock has a fifty day moving average price of $145.35 and a 200-day moving average price of $106.37. The company has a current ratio of 6.68, a quick ratio of 6.33 and a debt-to-equity ratio of 0.45. The firm has a market cap of $34.94 billion, a PE ratio of -28.95 and a beta of 1.03.

Insmed (NASDAQ:INSMGet Free Report) last issued its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) EPS for the quarter, missing the consensus estimate of ($1.30) by ($0.40). Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business had revenue of $107.42 million for the quarter, compared to analysts’ expectations of $104.06 million. During the same quarter in the prior year, the company posted ($1.94) EPS. The business’s revenue for the quarter was up 18.9% on a year-over-year basis. Insmed has set its FY 2025 guidance at EPS. Equities research analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, Director Melvin Md Sharoky sold 10,000 shares of the company’s stock in a transaction on Friday, September 12th. The stock was sold at an average price of $145.39, for a total value of $1,453,900.00. Following the transaction, the director directly owned 262,675 shares of the company’s stock, valued at $38,190,318.25. This represents a 3.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Roger Adsett sold 25,000 shares of the company’s stock in a transaction on Tuesday, August 19th. The shares were sold at an average price of $127.58, for a total value of $3,189,500.00. Following the completion of the transaction, the chief operating officer directly owned 105,637 shares in the company, valued at approximately $13,477,168.46. The trade was a 19.14% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 152,657 shares of company stock worth $21,442,198 over the last 90 days. Insiders own 3.00% of the company’s stock.

Analysts Set New Price Targets

INSM has been the subject of a number of analyst reports. Morgan Stanley upped their target price on Insmed from $126.00 to $144.00 and gave the stock an “equal weight” rating in a report on Thursday, August 21st. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Insmed in a report on Wednesday, October 1st. William Blair initiated coverage on Insmed in a report on Wednesday, August 20th. They set an “outperform” rating for the company. Cowen restated a “buy” rating on shares of Insmed in a report on Thursday, October 2nd. Finally, Jefferies Financial Group upped their target price on Insmed from $129.00 to $148.00 and gave the stock a “buy” rating in a report on Wednesday, August 13th. Nineteen investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and an average price target of $152.88.

Read Our Latest Research Report on INSM

Insmed Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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