Cerity Partners LLC Buys 17,869 Shares of Insmed Incorporated (NASDAQ:INSM)

Cerity Partners LLC lifted its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 513.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,348 shares of the biopharmaceutical company's stock after buying an additional 17,869 shares during the quarter. Cerity Partners LLC's holdings in Insmed were worth $1,558,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in INSM. Nisa Investment Advisors LLC grew its position in shares of Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company's stock valued at $119,000 after purchasing an additional 135 shares during the period. CIBC Asset Management Inc raised its stake in Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company's stock valued at $324,000 after acquiring an additional 149 shares during the period. CWM LLC increased its position in Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company's stock worth $105,000 after buying an additional 155 shares during the period. Commerce Bank increased its position in Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company's stock worth $499,000 after buying an additional 163 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 224 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts have recently commented on INSM shares. JPMorgan Chase & Co. lifted their price target on Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. StockNews.com downgraded Insmed from a "hold" rating to a "sell" rating in a report on Friday, August 9th. TD Cowen boosted their price objective on Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. Truist Financial reaffirmed a "buy" rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, UBS Group boosted their price objective on Insmed from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.67.

Insider Activity

In other news, insider Michael Alexander Smith sold 27,871 shares of Insmed 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 sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 29.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now owns 100,100 shares of the company's stock, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is currently owned by insiders.

Insmed Stock Performance

Shares of NASDAQ:INSM traded up $2.93 during midday trading on Wednesday, reaching $75.36. 1,539,855 shares of the company traded hands, compared to its average volume of 2,214,903. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The firm has a market capitalization of $13.48 billion, a price-to-earnings ratio of -13.58 and a beta of 1.10. The firm's fifty day moving average price is $72.26 and its two-hundred day moving average price is $69.06.

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

Insmed Company 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.