Profund Advisors LLC Has $1.54 Million Stock Position in Insmed Incorporated (NASDAQ:INSM)

Profund Advisors LLC reduced its position in shares of Insmed Incorporated (NASDAQ:INSM) by 56.5% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 23,020 shares of the biopharmaceutical company’s stock after selling 29,923 shares during the quarter. Profund Advisors LLC’s holdings in Insmed were worth $1,542,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in the business. Rafferty Asset Management LLC raised its stake in shares of Insmed by 17.4% during the fourth quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock worth $9,950,000 after buying an additional 47,563 shares during the last quarter. Kingdon Capital Management L.L.C. bought a new stake in shares of Insmed during the 4th quarter valued at $12,551,000. Artia Global Partners LP acquired a new position in shares of Insmed in the 4th quarter valued at $2,322,000. Norges Bank bought a new position in shares of Insmed in the 4th quarter worth $45,029,000. Finally, Clearbridge Investments LLC acquired a new stake in shares of Insmed during the first quarter worth $25,242,000.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on INSM shares. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Morgan Stanley boosted their price target on shares of Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a report on Friday, July 12th. Truist Financial dropped their price objective on Insmed from $88.00 to $85.00 and set a “buy” rating on the stock in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. Finally, Barclays raised their price target on Insmed from $40.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average target price of $81.40.

Insmed Stock Down 3.2 %

Insmed stock opened at $71.82 on Tuesday. The company has a fifty day simple moving average of $74.57 and a 200 day simple moving average of $52.52. The company has a current ratio of 2.71, a quick ratio of 2.53 and a debt-to-equity ratio of 25.05. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a market cap of $10.67 billion, a P/E ratio of -13.73 and a beta of 1.11.

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

Insider Activity at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The sale was disclosed in a document filed with the SEC, which is available through this link. In related news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The disclosure for this sale can be found here. In the last ninety days, insiders sold 78,882 shares of company stock worth $5,765,446. 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.