Beacon Financial Advisory LLC Sells 245 Shares of Insmed, Inc. (NASDAQ:INSM)

Beacon Financial Advisory LLC reduced its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 2.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 8,695 shares of the biopharmaceutical company’s stock after selling 245 shares during the period. Beacon Financial Advisory LLC’s holdings in Insmed were worth $663,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in INSM. Sanctuary Advisors LLC raised its position in Insmed by 13.7% during the fourth quarter. Sanctuary Advisors LLC now owns 3,861 shares of the biopharmaceutical company’s stock valued at $295,000 after purchasing an additional 464 shares in the last quarter. Truist Financial Corp increased its position in shares of Insmed by 3.4% during the 4th quarter. Truist Financial Corp now owns 30,038 shares of the biopharmaceutical company’s stock valued at $2,074,000 after purchasing an additional 1,000 shares during the last quarter. Amalgamated Bank raised its holdings in shares of Insmed by 10.4% during the 4th quarter. Amalgamated Bank now owns 5,879 shares of the biopharmaceutical company’s stock valued at $406,000 after buying an additional 552 shares in the last quarter. Nwam LLC bought a new stake in Insmed in the 4th quarter worth approximately $2,492,000. Finally, Proficio Capital Partners LLC purchased a new stake in Insmed in the fourth quarter worth approximately $1,864,000.

Insider Activity

In other news, CFO Sara Bonstein sold 57,765 shares of Insmed stock in a transaction dated Monday, June 23rd. The shares were sold at an average price of $101.78, for a total transaction of $5,879,321.70. Following the sale, the chief financial officer now owns 93,536 shares of the company’s stock, valued at approximately $9,520,094.08. The trade was a 38.18% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Clarissa Desjardins purchased 1,895 shares of Insmed stock in a transaction that occurred on Tuesday, May 20th. The shares were bought at an average price of $66.87 per share, for a total transaction of $126,718.65. Following the transaction, the director now directly owns 1,895 shares of the company’s stock, valued at $126,718.65. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders have sold 488,752 shares of company stock valued at $43,199,826. Company insiders own 3.00% of the company’s stock.

Insmed Stock Performance

Insmed stock opened at $101.74 on Friday. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. The firm has a 50-day moving average of $77.47 and a 200-day moving average of $75.35. The firm has a market cap of $19.30 billion, a P/E ratio of -17.10 and a beta of 0.80. Insmed, Inc. has a 1-year low of $60.40 and a 1-year high of $106.83.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts’ consensus estimates of ($1.36) by ($0.06). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The business had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the previous year, the company earned ($1.06) EPS. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. Sell-side analysts expect that Insmed, Inc. will post -4.56 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company lifted their price target on shares of Insmed from $107.00 to $119.00 and gave the stock an “overweight” rating in a research note on Wednesday, June 11th. Jefferies Financial Group reaffirmed a “buy” rating on shares of Insmed in a report on Tuesday, June 10th. Leerink Partners boosted their price target on shares of Insmed from $100.00 to $115.00 and gave the stock an “outperform” rating in a research note on Tuesday, June 10th. Bank of America upped their price target on shares of Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a research report on Wednesday, June 11th. Finally, Citigroup raised Insmed to a “buy” rating in a research note on Tuesday, June 10th. One investment analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $106.80.

About Insmed

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.