Eventide Asset Management LLC Grows Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Eventide Asset Management LLC raised its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 34.2% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 906,395 shares of the biopharmaceutical company's stock after buying an additional 231,210 shares during the period. Insmed makes up approximately 1.1% of Eventide Asset Management LLC's portfolio, making the stock its 29th largest position. Eventide Asset Management LLC owned 0.51% of Insmed worth $66,167,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. V Square Quantitative Management LLC purchased a new position in Insmed in the third quarter valued at $30,000. GAMMA Investing LLC boosted its stake in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock valued at $39,000 after buying an additional 224 shares during the period. First Horizon Advisors Inc. grew its position in shares of 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 buying an additional 287 shares in the last quarter. Exchange Traded Concepts LLC increased its stake in shares of 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 buying an additional 627 shares during the period. Finally, CWM LLC raised its holdings in 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 in the last quarter.

Analysts Set New Price Targets

Several research analysts have commented on INSM shares. Bank of America boosted their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. UBS Group raised their price target on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their price target on Insmed from $74.00 to $88.00 and gave the stock a "buy" rating in a report on Friday, August 9th. HC Wainwright reiterated a "buy" rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research note on Monday, September 9th. 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, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.67.

Insmed Stock Performance

NASDAQ INSM traded down $0.72 during trading on Friday, reaching $75.16. The company's stock had a trading volume of 719,651 shares, compared to its average volume of 2,224,189. The business's fifty day moving average price is $72.20 and its 200-day moving average price is $68.04. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. 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 firm has a market cap of $13.45 billion, a price-to-earnings ratio of -13.54 and a beta of 1.12.

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. During the same quarter in the previous year, the business earned ($1.10) EPS. The firm's revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Insider Transactions at Insmed

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the business'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 transaction of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company's stock, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last 90 days. 4.60% of the stock is currently owned by insiders.

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.