Bamco Inc. NY Takes Position in Insmed Incorporated (NASDAQ:INSM)

Bamco Inc. NY purchased a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 40,500 shares of the biopharmaceutical company's stock, valued at approximately $2,956,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of INSM. V Square Quantitative Management LLC acquired a new position in shares of Insmed in the 3rd quarter valued at about $30,000. GAMMA Investing LLC boosted its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. boosted its position in Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock worth $42,000 after purchasing an additional 287 shares during the period. Exchange Traded Concepts LLC boosted its position in Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock worth $55,000 after purchasing an additional 627 shares during the period. Finally, CWM LLC boosted its position in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company's stock valued at $105,000 after acquiring an additional 155 shares during the period.

Insmed Price Performance

Shares of NASDAQ:INSM traded up $2.93 during midday trading on Wednesday, reaching $75.36. The company's stock had a trading volume of 1,539,855 shares, compared to its average volume of 2,214,903. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a market capitalization of $13.48 billion, a P/E ratio of -13.58 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business's fifty day simple moving average is $72.26 and its 200-day simple moving average is $69.06.

Insmed (NASDAQ:INSM - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The firm's revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company posted ($1.10) EPS. As a group, equities research analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Insider Activity at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 over the last 90 days. Insiders own 4.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on INSM. UBS Group increased their price objective on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Truist Financial reissued a "buy" rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. StockNews.com cut Insmed from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Bank of America raised their target price on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

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.