Intech Investment Management LLC Buys New Shares in Insmed Incorporated (NASDAQ:INSM)

Intech Investment Management LLC bought a new stake in Insmed Incorporated (NASDAQ:INSM - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 46,593 shares of the biopharmaceutical company's stock, valued at approximately $3,401,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Jennison Associates LLC boosted its stake in shares of Insmed by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company's stock valued at $56,155,000 after purchasing an additional 24,973 shares in the last quarter. Commerce Bank raised its holdings in shares of Insmed by 2.4% in the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company's stock valued at $499,000 after buying an additional 163 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of Insmed in the third quarter valued at about $767,000. Pathstone Holdings LLC raised its holdings in shares of Insmed by 9.5% in the third quarter. Pathstone Holdings LLC now owns 35,544 shares of the biopharmaceutical company's stock valued at $2,595,000 after buying an additional 3,070 shares during the last quarter. Finally, First Turn Management LLC raised its holdings in shares of Insmed by 10.2% in the third quarter. First Turn Management LLC now owns 356,451 shares of the biopharmaceutical company's stock valued at $26,021,000 after buying an additional 33,091 shares during the last quarter.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the insider now directly owns 106,134 shares of the company's stock, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now directly 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 sold 78,882 shares of company stock valued at $5,765,446 in the last ninety days. 4.60% of the stock is currently owned by corporate insiders.

Insmed Stock Down 0.9 %

NASDAQ INSM traded down $0.66 during trading hours on Friday, reaching $73.15. 1,756,992 shares of the company's stock were exchanged, compared to its average volume of 1,646,243. The company's 50-day moving average is $72.04 and its two-hundred day moving average is $66.31. Insmed Incorporated has a one year low of $21.92 and a one year 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 company has a market capitalization of $13.09 billion, a price-to-earnings ratio of -13.18 and a beta of 1.12.

Insmed (NASDAQ:INSM - Get Free Report) last posted 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 company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period last year, the firm posted ($1.10) earnings per share. The business's quarterly revenue was up 18.1% compared to the same quarter last year. On average, analysts forecast that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

INSM has been the subject of a number of research analyst reports. TD Cowen lifted 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. Truist Financial reaffirmed a "buy" rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Cantor Fitzgerald reissued an "overweight" rating on shares of Insmed in a report on Monday, September 9th. Finally, StockNews.com cut Insmed from a "hold" rating to a "sell" rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.67.

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.