Lord Abbett & CO. LLC Trims Holdings in Insmed, Inc. $INSM

Lord Abbett & CO. LLC trimmed its position in Insmed, Inc. (NASDAQ:INSM) by 52.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 720,898 shares of the biopharmaceutical company’s stock after selling 791,758 shares during the quarter. Lord Abbett & CO. LLC owned about 0.34% of Insmed worth $125,465,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. CoreCap Advisors LLC purchased a new stake in Insmed in the 4th quarter worth approximately $27,000. GraniteShares Advisors LLC purchased a new stake in Insmed in the 4th quarter worth approximately $30,000. CIBC Private Wealth Group LLC increased its holdings in Insmed by 42.1% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 179 shares of the biopharmaceutical company’s stock worth $26,000 after acquiring an additional 53 shares in the last quarter. Raiffeisen Bank International AG purchased a new stake in Insmed in the 4th quarter worth approximately $32,000. Finally, SBI Securities Co. Ltd. increased its holdings in Insmed by 404.9% in the 3rd quarter. SBI Securities Co. Ltd. now owns 207 shares of the biopharmaceutical company’s stock worth $30,000 after acquiring an additional 166 shares in the last quarter.

Insider Activity at Insmed

In other Insmed news, insider Michael Alexander Smith sold 2,159 shares of the stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $220,800.93. Following the completion of the sale, the insider directly owned 39,454 shares of the company’s stock, valued at $4,034,960.58. This trade represents a 5.19% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO William Lewis sold 7,605 shares of the firm’s stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $102.27, for a total transaction of $777,763.35. Following the completion of the transaction, the chief executive officer directly owned 265,432 shares of the company’s stock, valued at approximately $27,145,730.64. This trade represents a 2.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 160,482 shares of company stock valued at $24,438,193. Corporate insiders own 2.10% of the company’s stock.

Insmed Trading Up 1.2%

Shares of INSM opened at $97.85 on Friday. The company has a debt-to-equity ratio of 0.80, a current ratio of 4.47 and a quick ratio of 4.10. Insmed, Inc. has a 1 year low of $90.39 and a 1 year high of $212.75. The company has a 50 day simple moving average of $124.55 and a two-hundred day simple moving average of $151.31. The firm has a market cap of $21.21 billion, a P/E ratio of -17.02 and a beta of 0.79.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, May 7th. The biopharmaceutical company reported ($0.76) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.90) by $0.14. Insmed had a negative net margin of 144.44% and a negative return on equity of 130.11%. The business had revenue of $305.96 million during the quarter, compared to analyst estimates of $300.81 million. During the same period last year, the firm posted ($1.42) EPS. The company’s revenue was up 229.7% on a year-over-year basis. On average, equities analysts expect that Insmed, Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms recently issued reports on INSM. Leerink Partners increased their target price on shares of Insmed from $210.00 to $215.00 and gave the stock an “outperform” rating in a report on Tuesday, March 24th. Barclays increased their target price on shares of Insmed from $231.00 to $237.00 and gave the stock an “overweight” rating in a report on Wednesday, April 1st. Wells Fargo & Company cut their price objective on shares of Insmed from $177.00 to $160.00 and set an “overweight” rating for the company in a report on Friday, May 8th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Wednesday. Finally, Truist Financial cut their price objective on shares of Insmed from $205.00 to $185.00 and set a “buy” rating for the company in a report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $212.50.

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.