Erste Asset Management GmbH Makes New $3.45 Million Investment in Insmed Incorporated (NASDAQ:INSM)

Erste Asset Management GmbH bought a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 47,600 shares of the biopharmaceutical company's stock, valued at approximately $3,450,000.

Other large investors have also added to or reduced their stakes in the company. Eventide Asset Management LLC lifted its holdings in shares of Insmed by 34.2% in the third quarter. Eventide Asset Management LLC now owns 906,395 shares of the biopharmaceutical company's stock valued at $66,167,000 after purchasing an additional 231,210 shares in the last quarter. Captrust Financial Advisors grew its position in shares of Insmed by 40.9% in the third quarter. Captrust Financial Advisors now owns 6,280 shares of the biopharmaceutical company's stock valued at $458,000 after purchasing an additional 1,824 shares in the last quarter. Vestal Point Capital LP grew its position in shares of Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company's stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter. Ally Bridge Group NY LLC grew its position in shares of Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company's stock valued at $11,011,000 after purchasing an additional 21,833 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Insmed by 7.3% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,721 shares of the biopharmaceutical company's stock worth $2,681,000 after buying an additional 2,485 shares in the last quarter.

Insmed Stock Up 0.0 %

NASDAQ INSM traded up $0.01 during trading on Tuesday, reaching $72.43. 1,202,002 shares of the company's stock were exchanged, compared to its average volume of 2,217,801. The stock has a market cap of $12.96 billion, a P/E ratio of -13.05 and a beta of 1.10. 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 company has a 50 day moving average price of $72.21 and a two-hundred day moving average price of $69.01. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last issued 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 analysts' expectations of $93.36 million. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($1.10) EPS. On average, equities research analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Insider Buying and Selling

In related news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction 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 in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction dated 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 sale, the insider now owns 100,100 shares of the company's stock, valued at $7,157,150. This represents a 27.29 % decrease in their ownership of the stock. 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 in the last quarter. Company insiders own 4.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on INSM shares. UBS Group upped their price target on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research report on Friday, August 9th. StockNews.com downgraded Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. Bank of America increased their price target on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, TD Cowen increased their price target on Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average 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.