Picton Mahoney Asset Management Has $3.37 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Picton Mahoney Asset Management increased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 7.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,897 shares of the biopharmaceutical company’s stock after purchasing an additional 3,354 shares during the period. Picton Mahoney Asset Management’s holdings in Insmed were worth $3,374,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. CIBC Asset Management Inc grew its stake in shares of Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 149 shares during the period. Abel Hall LLC grew its stake in shares of Insmed by 4.7% during the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 151 shares during the period. Commerce Bank grew its stake in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares during the period. Steward Partners Investment Advisory LLC grew its stake in shares of Insmed by 65.2% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock worth $29,000 after purchasing an additional 163 shares during the period. Finally, M&T Bank Corp grew its stake in Insmed by 5.6% in the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 166 shares during the period.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Truist Financial boosted their target price on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. Wells Fargo & Company boosted their price target on Insmed from $85.00 to $107.00 and gave the company an “overweight” rating in a report on Wednesday, February 19th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. Finally, Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a report on Thursday, February 6th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, Insmed presently has an average rating of “Moderate Buy” and a consensus target price of $93.33.

Insider Activity

In related news, insider Martina M.D. Flammer sold 3,344 shares of the stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the sale, the insider now owns 102,766 shares of the company’s stock, valued at $6,773,307.06. This represents a 3.15 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO William Lewis sold 18,750 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at $27,079,091.58. This represents a 5.31 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 550,957 shares of company stock valued at $42,859,028. 4.60% of the stock is owned by insiders.

Insmed Price Performance

Insmed stock opened at $76.55 on Friday. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The stock’s 50 day moving average is $76.17 and its 200-day moving average is $73.71. 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 company has a market capitalization of $13.86 billion, a price-to-earnings ratio of -13.69 and a beta of 1.28.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) EPS for the quarter, missing the consensus estimate of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Equities research analysts expect that Insmed Incorporated will post -4.56 EPS for the current year.

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.