Hennion & Walsh Asset Management Inc. Trims Stake in Insmed Incorporated (NASDAQ:INSM)

Hennion & Walsh Asset Management Inc. lessened its stake in Insmed Incorporated (NASDAQ:INSM) by 49.8% during the 4th quarter, HoldingsChannel reports. The firm owned 43,934 shares of the biopharmaceutical company’s stock after selling 43,522 shares during the quarter. Hennion & Walsh Asset Management Inc.’s holdings in Insmed were worth $3,033,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Private Advisor Group LLC purchased a new stake in Insmed during the second quarter worth $575,000. Federated Hermes Inc. raised its position in shares of Insmed by 11,879.8% in the second quarter. Federated Hermes Inc. now owns 10,063 shares of the biopharmaceutical company’s stock worth $674,000 after acquiring an additional 9,979 shares during the period. Oppenheimer Asset Management Inc. acquired a new position in shares of Insmed in the second quarter worth about $449,000. Envestnet Asset Management Inc. boosted its stake in shares of Insmed by 211.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 175,464 shares of the biopharmaceutical company’s stock worth $11,756,000 after acquiring an additional 119,214 shares in the last quarter. Finally, Dimensional Fund Advisors LP acquired a new stake in shares of Insmed during the 2nd quarter valued at about $810,000.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total value of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,885,606.40. This trade represents a 4.64 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 1,384 shares of Insmed stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $68.72, for a total value of $95,108.48. Following the transaction, the insider now owns 100,165 shares in the company, valued at approximately $6,883,338.80. This 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 worth $7,161,294. 4.60% of the stock is owned by corporate insiders.

Insmed Stock Performance

INSM opened at $72.75 on Friday. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The firm has a market capitalization of $13.01 billion, a PE ratio of -13.11 and a beta of 1.12. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm’s 50-day moving average price is $71.20 and its 200 day moving average price is $72.47.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. Insmed’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the business earned ($1.10) earnings per share. As a group, sell-side analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Analysts Set New Price Targets

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

Insmed Company 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.