Sei Investments Co. Sells 65,599 Shares of Insmed Incorporated (NASDAQ:INSM)

Sei Investments Co. reduced its holdings in Insmed Incorporated (NASDAQ:INSM) by 77.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,525 shares of the biopharmaceutical company’s stock after selling 65,599 shares during the period. Sei Investments Co.’s holdings in Insmed were worth $551,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Eaton Vance Management acquired a new position in Insmed in the first quarter valued at approximately $36,000. Harbor Investment Advisory LLC acquired a new position in Insmed in the second quarter valued at approximately $58,000. E Fund Management Co. Ltd. acquired a new position in Insmed in the first quarter valued at approximately $121,000. HighMark Wealth Management LLC lifted its holdings in Insmed by 675.7% in the second quarter. HighMark Wealth Management LLC now owns 5,019 shares of the biopharmaceutical company’s stock valued at $137,000 after buying an additional 4,372 shares during the period. Finally, Quantitative Systematic Strategies LLC acquired a new position in Insmed in the first quarter valued at approximately $268,000.

INSM opened at $27.58 on Friday. The firm’s fifty day moving average is $25.81 and its two-hundred day moving average is $29.06. The company has a debt-to-equity ratio of 1.06, a quick ratio of 9.81 and a current ratio of 10.42. The firm has a market cap of $3.18 billion, a PE ratio of -7.68 and a beta of 2.25. Insmed Incorporated has a twelve month low of $22.00 and a twelve month high of $45.44.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, August 5th. The biopharmaceutical company reported ($1.07) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.89) by ($0.18). The firm had revenue of $45.37 million during the quarter, compared to analyst estimates of $43.72 million. Insmed had a negative return on equity of 105.70% and a negative net margin of 219.67%. The company’s revenue for the quarter was up 6.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.64) earnings per share. Equities analysts forecast that Insmed Incorporated will post -3.48 EPS for the current fiscal year.

Separately, Zacks Investment Research upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Thursday, September 9th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Buy” and an average price target of $50.57.

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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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