Ally Bridge Group NY LLC Has $8.64 Million Position in Insmed Incorporated (NASDAQ:INSM)

Ally Bridge Group NY LLC lowered its stake in Insmed Incorporated (NASDAQ:INSM) by 48.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 129,000 shares of the biopharmaceutical company’s stock after selling 121,000 shares during the period. Insmed makes up about 5.1% of Ally Bridge Group NY LLC’s investment portfolio, making the stock its 5th largest holding. Ally Bridge Group NY LLC’s holdings in Insmed were worth $8,643,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Nisa Investment Advisors LLC grew its holdings in shares of Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after acquiring an additional 135 shares during the last quarter. CWM LLC increased its stake in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter. First Horizon Advisors Inc. raised its holdings in Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 287 shares during the period. Beacon Financial Advisory LLC lifted its stake in Insmed by 4.6% during the second quarter. Beacon Financial Advisory LLC now owns 13,825 shares of the biopharmaceutical company’s stock valued at $926,000 after buying an additional 605 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its holdings in shares of Insmed by 1.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after buying an additional 610 shares during the period.

Wall Street Analyst Weigh In

A number of research firms recently commented on INSM. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. Guggenheim boosted their price objective on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Stifel Nicolaus lifted their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Barclays upped their price target on shares of Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $81.40.

Insmed Stock Performance

Shares of INSM opened at $74.21 on Monday. The company has a market capitalization of $11.03 billion, a PE ratio of -14.19 and a beta of 1.11. The company’s fifty day moving average price is $74.68 and its 200 day moving average price is $52.21. Insmed Incorporated has a one year low of $21.92 and a one year high of $80.53. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. During the same period in the prior year, the company earned ($1.78) earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. As a group, analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Buying and Selling at Insmed

In related news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares in the company, valued at $7,951,559.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last quarter. Corporate insiders own 4.60% of the company’s stock.

Insmed Profile

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.