Zurcher Kantonalbank Zurich Cantonalbank Increases Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 18.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 43,476 shares of the biopharmaceutical company's stock after buying an additional 6,755 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Insmed were worth $3,002,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Edgestream Partners L.P. raised its holdings in shares of Insmed by 1,242.1% in the fourth quarter. Edgestream Partners L.P. now owns 43,619 shares of the biopharmaceutical company's stock valued at $3,011,000 after purchasing an additional 40,369 shares during the last quarter. Arizona State Retirement System increased its stake in Insmed by 6.1% in the 4th quarter. Arizona State Retirement System now owns 47,342 shares of the biopharmaceutical company's stock valued at $3,268,000 after buying an additional 2,722 shares during the last quarter. Aigen Investment Management LP lifted its position in shares of Insmed by 193.3% during the 4th quarter. Aigen Investment Management LP now owns 11,936 shares of the biopharmaceutical company's stock worth $824,000 after buying an additional 7,867 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Insmed in the 4th quarter worth approximately $1,864,000. Finally, M&T Bank Corp grew its holdings in shares of Insmed by 5.6% in the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock valued at $217,000 after acquiring an additional 166 shares in the last quarter.

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Insmed Stock Up 2.5 %

INSM traded up $1.91 during trading on Wednesday, reaching $78.90. The stock had a trading volume of 784,576 shares, compared to its average volume of 2,169,212. The stock's 50 day moving average is $76.61 and its two-hundred day moving average is $73.70. The company has a market capitalization of $14.28 billion, a price-to-earnings ratio of -14.11 and a beta of 1.28. 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 Incorporated has a one year low of $21.92 and a one year high of $84.91.

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

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on INSM shares. UBS Group raised their target price on shares of Insmed from $105.00 to $110.00 and gave the company a "buy" rating in a research note on Thursday, March 6th. Truist Financial lifted their price target on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. HC Wainwright reissued a "buy" rating and set a $90.00 price objective on shares of Insmed in a report on Friday, February 21st. Wells Fargo & Company increased their target price on Insmed from $85.00 to $107.00 and gave the company an "overweight" rating in a report on Wednesday, February 19th. Finally, Stifel Nicolaus reduced their price target on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to data from MarketBeat, Insmed presently has an average rating of "Moderate Buy" and a consensus target price of $93.33.

Insider Activity at Insmed

In related news, CFO Sara Bonstein sold 1,066 shares of the business's stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.72, for a total value of $67,925.52. Following the completion of the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at $7,573,950.36. The trade was a 0.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 2,978 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $63.36, for a total value of $188,686.08. Following the sale, the chief executive officer now owns 392,589 shares in the company, valued at approximately $24,874,439.04. This represents a 0.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 550,957 shares of company stock valued at $42,859,028. 4.60% of the stock is owned by 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.