Cornerstone Capital Management Holdings LLC. Decreases Stake in Insmed Incorporated (NASDAQ:INSM)

Cornerstone Capital Management Holdings LLC. trimmed its stake in Insmed Incorporated (NASDAQ:INSM) by 19.0% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,208 shares of the biopharmaceutical company’s stock after selling 8,475 shares during the period. Cornerstone Capital Management Holdings LLC. owned 0.06% of Insmed worth $620,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSM. Bank of New York Mellon Corp raised its position in shares of Insmed by 4.1% in the 1st quarter. Bank of New York Mellon Corp now owns 314,494 shares of the biopharmaceutical company’s stock worth $5,507,000 after acquiring an additional 12,336 shares in the last quarter. Parametric Portfolio Associates LLC raised its position in shares of Insmed by 39.2% in the 1st quarter. Parametric Portfolio Associates LLC now owns 14,417 shares of the biopharmaceutical company’s stock worth $252,000 after acquiring an additional 4,063 shares in the last quarter. American International Group Inc. raised its position in shares of Insmed by 7.1% in the 1st quarter. American International Group Inc. now owns 38,127 shares of the biopharmaceutical company’s stock worth $668,000 after acquiring an additional 2,517 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Insmed by 4.8% in the 1st quarter. Vanguard Group Inc. now owns 3,781,483 shares of the biopharmaceutical company’s stock worth $66,214,000 after acquiring an additional 173,532 shares in the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Insmed by 4.7% in the 1st quarter. Geode Capital Management LLC now owns 493,181 shares of the biopharmaceutical company’s stock worth $8,635,000 after acquiring an additional 22,345 shares in the last quarter. 72.78% of the stock is owned by hedge funds and other institutional investors.

ILLEGAL ACTIVITY WARNING: “Cornerstone Capital Management Holdings LLC. Decreases Stake in Insmed Incorporated (NASDAQ:INSM)” was reported by Dispatch Tribunal and is the sole property of of Dispatch Tribunal. If you are viewing this piece of content on another website, it was illegally stolen and reposted in violation of U.S. and international copyright & trademark law. The correct version of this piece of content can be accessed at https://www.dispatchtribunal.com/2017/11/11/cornerstone-capital-management-holdings-llc-has-620000-holdings-in-insmed-inc-insm.html.

Shares of Insmed Incorporated (NASDAQ INSM) traded up $1.42 during mid-day trading on Friday, hitting $30.82. The stock had a trading volume of 969,900 shares, compared to its average volume of 685,304. The company has a current ratio of 15.21, a quick ratio of 15.21 and a debt-to-equity ratio of 0.13. Insmed Incorporated has a fifty-two week low of $11.49 and a fifty-two week high of $31.84.

In other news, Director Donald J. Hayden, Jr. sold 45,000 shares of the company’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $29.67, for a total value of $1,335,150.00. Following the sale, the director now owns 71,131 shares in the company, valued at $2,110,456.77. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Melvin Md Sharoky sold 50,000 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $27.37, for a total value of $1,368,500.00. The disclosure for this sale can be found here. 4.03% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on INSM shares. Zacks Investment Research lowered Insmed from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a research report on Wednesday, August 2nd. ValuEngine lowered Insmed from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. BidaskClub lowered Insmed from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Evercore ISI initiated coverage on Insmed in a research report on Wednesday, August 16th. They set an “outperform” rating and a $28.00 target price on the stock. Two research analysts have rated the stock with a sell rating, two have given a hold rating and six have given a buy rating to the company. Insmed has an average rating of “Hold” and a consensus target price of $34.50.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Incorporated Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed Incorporated and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply