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Wellington Management Group LLP Purchases 24,025 Shares of Insmed Incorporated (NASDAQ:INSM)

Insmed logo with Medical background

Wellington Management Group LLP boosted its holdings in Insmed Incorporated (NASDAQ:INSM - Free Report) by 2.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 962,459 shares of the biopharmaceutical company's stock after acquiring an additional 24,025 shares during the quarter. Wellington Management Group LLP owned 0.54% of Insmed worth $70,260,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. V Square Quantitative Management LLC acquired a new stake in shares of Insmed in the 3rd quarter worth approximately $30,000. GAMMA Investing LLC lifted its position in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company's stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. increased its position in shares of Insmed by 83.4% during the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company's stock valued at $42,000 after purchasing an additional 287 shares during the period. Exchange Traded Concepts LLC increased its position in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company's stock valued at $55,000 after purchasing an additional 627 shares during the period. Finally, CWM LLC lifted its holdings in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company's stock valued at $105,000 after buying an additional 155 shares during the period.

Insmed Stock Up 2.2 %

Shares of Insmed stock traded up $1.58 on Wednesday, hitting $74.20. 1,255,269 shares of the company traded hands, compared to its average volume of 2,200,906. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The company has a 50-day moving average price of $72.36 and a 200 day moving average price of $70.78. The company has a market cap of $13.27 billion, a PE ratio of -13.08 and a beta of 1.10.

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 (EPS) 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. The company's revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) earnings per share. Sell-side analysts predict that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analysts Set New Price Targets

INSM has been the topic of a number of research analyst reports. Truist Financial reaffirmed a "buy" rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Bank of America lifted their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. increased their target price on shares of Insmed from $74.00 to $83.00 and gave the company an "overweight" rating in a research note on Friday, November 22nd. HC Wainwright restated a "buy" rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research report on Monday, September 9th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $83.67.

Check Out Our Latest Report on INSM

Insiders Place Their Bets

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm's stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now directly owns 106,134 shares of the company's stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the business's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares of the company's stock, valued at $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 4.60% of the company's stock.

Insmed Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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