Victory Capital Management Inc. Has $33.29 Million Stake in Insmed Incorporated (NASDAQ:INSM)

Victory Capital Management Inc. boosted its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 209.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 455,959 shares of the biopharmaceutical company's stock after purchasing an additional 308,819 shares during the quarter. Victory Capital Management Inc. owned about 0.27% of Insmed worth $33,285,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. V Square Quantitative Management LLC bought a new position in Insmed during the 3rd quarter valued at $30,000. EntryPoint Capital LLC bought a new position in Insmed during the first quarter valued at about $33,000. GAMMA Investing LLC grew its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after acquiring an additional 224 shares during the period. First Horizon Advisors Inc. lifted its holdings in Insmed by 83.4% in the 2nd 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 last quarter. Finally, Exchange Traded Concepts LLC lifted its holdings in Insmed by 522.5% in the 3rd 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 last quarter.

Insmed Trading Down 7.0 %

Shares of NASDAQ:INSM traded down $4.97 during trading on Friday, hitting $66.29. 2,935,341 shares of the company's stock were exchanged, compared to its average volume of 1,351,619. The firm has a 50-day moving average price of $72.13 and a two-hundred day moving average price of $64.70. The firm has a market cap of $11.86 billion, a P/E ratio of -11.94 and a beta of 1.12. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

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 the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. Insmed's revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned ($1.10) earnings per share. Equities analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have weighed in on the stock. UBS Group lifted their price objective on shares of Insmed from $78.00 to $84.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Truist Financial reissued a "buy" rating and issued a $105.00 price objective (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Stifel Nicolaus upped their price objective on shares of Insmed from $74.00 to $88.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Bank of America lifted their price target on Insmed from $84.00 to $86.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised their target price on Insmed from $72.00 to $74.00 and gave the company an "overweight" rating in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $83.07.

Insider Activity at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. This represents a 27.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by corporate insiders.

About Insmed

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.