Tidal Investments LLC Buys 19,696 Shares of Insmed Incorporated (NASDAQ:INSM)

Tidal Investments LLC raised its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 447.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 24,102 shares of the biopharmaceutical company's stock after acquiring an additional 19,696 shares during the quarter. Tidal Investments LLC's holdings in Insmed were worth $1,759,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Wealth Enhancement Advisory Services LLC bought a new stake in shares of Insmed in the second quarter valued at about $256,000. Envestnet Portfolio Solutions Inc. bought a new position in shares of Insmed during the second quarter worth approximately $330,000. Raymond James & Associates raised its position in shares of Insmed by 4.7% in the second quarter. Raymond James & Associates now owns 64,944 shares of the biopharmaceutical company's stock valued at $4,351,000 after buying an additional 2,943 shares in the last quarter. Nisa Investment Advisors LLC grew its position in Insmed by 8.2% during the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company's stock worth $119,000 after buying an additional 135 shares in the last quarter. Finally, First Horizon Advisors Inc. grew its position in 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.

Insmed Trading Down 5.2 %

Shares of NASDAQ:INSM traded down $3.85 during trading on Wednesday, reaching $70.00. The stock had a trading volume of 2,601,799 shares, compared to its average volume of 2,203,526. Insmed Incorporated has a 52 week low of $21.92 and a 52 week 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's fifty day moving average is $72.49 and its 200 day moving average is $71.70. The stock has a market cap of $12.52 billion, a price-to-earnings ratio of -12.61 and a beta of 1.10.

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 for the quarter, missing analysts' consensus estimates 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. The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.10) EPS. As a group, equities analysts forecast that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Analyst Ratings Changes

INSM has been the subject of a number of recent analyst reports. Bank of America upped their target price on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a research report on Wednesday, October 9th. Truist Financial reissued a "buy" rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reaffirmed a "buy" rating and set a $90.00 price target on shares of Insmed in a report on Friday, November 1st. Cantor Fitzgerald restated an "overweight" rating on shares of Insmed in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised their target price on Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a report on Friday, November 22nd. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus 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.