Wells Fargo & Company MN Grows Position in Insmed Incorporated (NASDAQ:INSM)

Wells Fargo & Company MN increased its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 26.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 160,709 shares of the biopharmaceutical company's stock after acquiring an additional 33,214 shares during the period. Wells Fargo & Company MN owned approximately 0.09% of Insmed worth $11,095,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MML Investors Services LLC grew its holdings in Insmed by 36.2% during the 3rd quarter. MML Investors Services LLC now owns 22,201 shares of the biopharmaceutical company's stock worth $1,621,000 after acquiring an additional 5,897 shares in the last quarter. M&T Bank Corp acquired a new position in shares of Insmed during the third quarter worth $218,000. Coldstream Capital Management Inc. purchased a new position in Insmed in the third quarter valued at $255,000. Sanctuary Advisors LLC purchased a new position in shares of Insmed in the 3rd quarter valued at about $248,000. Finally, Tidal Investments LLC raised its position in shares of Insmed by 447.0% during the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company's stock worth $1,759,000 after acquiring an additional 19,696 shares in the last quarter.

Insmed Stock Performance

INSM traded up $2.33 during trading on Friday, reaching $72.53. The company's stock had a trading volume of 1,500,949 shares, compared to its average volume of 2,273,347. The company has a market capitalization of $13.19 billion, a price-to-earnings ratio of -12.97 and a beta of 1.07. The company's fifty day moving average price is $75.49 and its 200-day moving average price is $73.59. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The business had revenue of $104.44 million during the quarter, compared to analysts' expectations of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. On average, equities analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Insider Activity

In other Insmed news, CEO William Lewis sold 79,350 shares of Insmed stock in a transaction that occurred on Thursday, February 6th. The shares were sold at an average price of $80.90, for a total value of $6,419,415.00. Following the completion of the sale, the chief executive officer now directly owns 453,894 shares of the company's stock, valued at approximately $36,720,024.60. The trade was a 14.88 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the firm's stock in a transaction on Thursday, January 30th. The stock was sold at an average price of $80.00, for a total value of $7,291,200.00. Following the sale, the insider now owns 97,083 shares in the company, valued at $7,766,640. This trade represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 471,797 shares of company stock worth $37,621,239 over the last 90 days. 3.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

INSM has been the subject of a number of research reports. Truist Financial boosted their price target on shares of Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Stifel Nicolaus dropped their price target on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. UBS Group boosted their price objective on Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Bank of America raised their target price on shares of Insmed from $92.00 to $96.00 and gave the stock a "buy" rating in a research report on Thursday, March 20th. Finally, Cantor Fitzgerald reiterated an "overweight" rating on shares of Insmed in a research note on Wednesday, February 19th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $94.00.

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.