Ally Bridge Group NY LLC Raises Stake in Insmed Incorporated (NASDAQ:INSM)

Ally Bridge Group NY LLC lifted its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 16.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 150,833 shares of the biopharmaceutical company's stock after purchasing an additional 21,833 shares during the period. Insmed comprises about 5.9% of Ally Bridge Group NY LLC's investment portfolio, making the stock its biggest position. Ally Bridge Group NY LLC owned 0.08% of Insmed worth $11,011,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in Insmed by 7.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 36,721 shares of the biopharmaceutical company's stock worth $2,681,000 after purchasing an additional 2,485 shares during the period. Acuta Capital Partners LLC increased its stake in shares of Insmed by 49.1% in the third quarter. Acuta Capital Partners LLC now owns 107,500 shares of the biopharmaceutical company's stock worth $7,848,000 after buying an additional 35,400 shares during the period. Blueshift Asset Management LLC purchased a new stake in Insmed during the 3rd quarter valued at $365,000. Quantbot Technologies LP bought a new stake in Insmed in the 3rd quarter worth $133,000. Finally, The Manufacturers Life Insurance Company raised its stake in shares of Insmed by 1.8% during the third quarter. The Manufacturers Life Insurance Company now owns 288,073 shares of the biopharmaceutical company's stock valued at $21,029,000 after acquiring an additional 5,062 shares during the last quarter.

Analyst Ratings Changes

INSM has been the topic of several recent analyst reports. HC Wainwright reissued a "buy" rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a report on Monday, September 9th. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Insmed from a "hold" rating to a "sell" rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus raised their target price on shares of Insmed from $74.00 to $88.00 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 stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $83.67.

Insmed Stock Up 0.3 %

Shares of NASDAQ:INSM traded up $0.20 on Thursday, hitting $75.88. 1,018,230 shares of the company traded hands, compared to its average volume of 2,230,730. The stock has a 50 day simple moving average of $72.16 and a 200-day simple moving average of $67.34. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The company has a market cap of $13.57 billion, a PE ratio of -13.67 and a beta of 1.12. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. The business's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.10) EPS. As a group, research analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the business's stock in a transaction dated 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 transaction, the insider now owns 67,856 shares of the company's stock, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm's stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock worth $5,765,446 in the last three months. Insiders own 4.60% of the company's stock.

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.