Van ECK Associates Corp Trims Position in Insmed Incorporated (NASDAQ:INSM)

Van ECK Associates Corp reduced its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 6.1% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 119,234 shares of the biopharmaceutical company's stock after selling 7,790 shares during the period. Van ECK Associates Corp owned approximately 0.07% of Insmed worth $8,232,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc grew its position in Insmed by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company's stock worth $324,000 after purchasing an additional 149 shares during the period. Abel Hall LLC boosted its stake in shares of Insmed by 4.7% during the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company's stock worth $230,000 after acquiring an additional 151 shares in the last quarter. Commerce Bank boosted its stake in shares of Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company's stock worth $499,000 after acquiring an additional 163 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Insmed by 5.5% during the 4th quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company's stock worth $244,000 after acquiring an additional 183 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Insmed by 3.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company's stock worth $446,000 after acquiring an additional 186 shares in the last quarter.

Insider Buying and Selling at Insmed

In other news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company's stock, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of Insmed stock in a transaction on Friday, January 10th. The stock was sold at an average price of $63.64, for a total transaction of $392,786.08. Following the sale, the insider now directly owns 101,549 shares of the company's stock, valued at approximately $6,462,578.36. This trade represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 495,135 shares of company stock valued at $38,409,713 in the last 90 days. Company insiders own 4.60% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on INSM. Stifel Nicolaus increased their target price on shares of Insmed from $88.00 to $97.00 and gave the stock a "buy" rating in a research note on Tuesday, February 11th. HC Wainwright reaffirmed a "buy" rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Truist Financial reaffirmed a "buy" rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Wells Fargo & Company raised their price target on shares of Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a research note on Wednesday. Finally, JPMorgan Chase & Co. raised their price target on shares of Insmed from $83.00 to $92.00 and gave the company an "overweight" rating in a research note on Friday, February 7th. One analyst has rated the stock with a sell rating and fifteen have issued a buy rating to the company. According to MarketBeat, Insmed has an average rating of "Moderate Buy" and an average price target of $90.86.

Insmed Trading Up 1.9 %

Insmed stock traded up $1.54 during trading on Wednesday, hitting $82.90. The company had a trading volume of 1,156,956 shares, compared to its average volume of 1,876,731. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $83.57. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The company's 50 day simple moving average is $73.51 and its 200-day simple moving average is $73.31. The stock has a market cap of $14.83 billion, a price-to-earnings ratio of -14.98 and a beta of 1.11.

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.