Insmed Incorporated (NASDAQ:INSM) Shares Acquired by Castleark Management LLC

Castleark Management LLC grew its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 159.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 43,300 shares of the biopharmaceutical company's stock after acquiring an additional 26,640 shares during the period. Castleark Management LLC's holdings in Insmed were worth $3,161,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the business. Comerica Bank boosted its position in shares of Insmed by 3,984.1% during the 1st quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company's stock valued at $1,344,000 after purchasing an additional 48,327 shares in the last quarter. CWM LLC increased its stake in shares of Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company's stock valued at $105,000 after acquiring an additional 155 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new position in shares of Insmed during the 2nd quarter valued at $256,000. Envestnet Portfolio Solutions Inc. bought a new position in Insmed during the second quarter worth $330,000. Finally, Ariston Services Group acquired a new stake in Insmed in the second quarter worth $201,000.

Insmed Stock Up 0.1 %

NASDAQ:INSM traded up $0.07 on Friday, hitting $75.40. The stock had a trading volume of 1,412,127 shares, compared to its average volume of 1,513,399. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The firm's fifty day simple moving average is $72.37 and its two-hundred day simple moving average is $69.76. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a market cap of $13.49 billion, a P/E ratio of -13.59 and a beta of 1.10.

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

Insiders Place Their Bets

In other news, insider Michael Alexander Smith sold 27,871 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares of the company's stock, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, 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 ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a research report on Monday, September 9th. Bank of America increased their price target on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. HC Wainwright restated a "buy" rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Truist Financial reiterated a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, JPMorgan Chase & Co. lifted their price target on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $83.67.

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.