Swiss National Bank Boosts Stake in Insmed Incorporated (NASDAQ:INSM)

Swiss National Bank grew its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 9.0% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 302,500 shares of the biopharmaceutical company's stock after buying an additional 25,000 shares during the period. Swiss National Bank owned 0.17% of Insmed worth $22,082,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. V Square Quantitative Management LLC acquired a new stake in Insmed in the third quarter valued at approximately $30,000. GAMMA Investing LLC grew its stake in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock valued at $39,000 after acquiring an additional 224 shares during the period. First Horizon Advisors Inc. grew its stake in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock valued at $42,000 after acquiring an additional 287 shares during the period. Exchange Traded Concepts LLC grew its stake in Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock valued at $55,000 after acquiring an additional 627 shares during the period. Finally, EntryPoint Capital LLC acquired a new stake in Insmed in the first quarter valued at approximately $33,000.

Insmed Stock Performance

Shares of INSM traded down $0.66 during mid-day trading on Friday, hitting $73.15. The stock had a trading volume of 1,756,984 shares, compared to its average volume of 2,243,400. The firm has a market cap of $13.09 billion, a P/E ratio of -13.27 and a beta of 1.12. The business has a fifty day moving average price of $72.07 and a 200-day moving average price of $65.70. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. 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 issued its 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 business had revenue of $93.40 million during the quarter, compared to analysts' expectations of $93.36 million. Insmed's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.10) EPS. On average, equities research analysts expect that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Activity

In related news, insider Martina M.D. Flammer sold 13,436 shares of the business's stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $7,951,559.28. The trade was a 11.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business's stock in a transaction dated 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 owns 100,100 shares of the company's stock, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on INSM. StockNews.com cut Insmed from a "hold" rating to a "sell" rating in a research note on Friday, August 9th. UBS Group raised their target price on Insmed from $78.00 to $84.00 and gave the company a "buy" rating in a report on Friday, August 9th. Truist Financial restated a "buy" rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. TD Cowen raised their target price on Insmed from $75.00 to $98.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, HC Wainwright restated a "buy" rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Insmed presently has an average rating of "Moderate Buy" and an average price target of $83.67.

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.