Blueshift Asset Management LLC Acquires Shares of 4,997 Insmed Incorporated (NASDAQ:INSM)

Blueshift Asset Management LLC bought a new stake in Insmed Incorporated (NASDAQ:INSM) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm bought 4,997 shares of the biopharmaceutical company’s stock, valued at approximately $365,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Kennedy Capital Management LLC bought a new position in Insmed in the first quarter valued at about $267,000. Comerica Bank grew its holdings in shares of Insmed by 3,984.1% during the 1st quarter. Comerica Bank now owns 49,540 shares of the biopharmaceutical company’s stock valued at $1,344,000 after purchasing an additional 48,327 shares during the last quarter. Transcend Capital Advisors LLC acquired a new position in Insmed during the 2nd quarter worth approximately $314,000. RVW Wealth LLC acquired a new stake in Insmed in the second quarter valued at approximately $284,000. Finally, CWM LLC boosted its position in 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 in the last quarter.

Insmed Stock Up 0.3 %

Shares of NASDAQ:INSM opened at $75.88 on Friday. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The business’s 50-day moving average is $72.18 and its 200-day moving average is $67.40. The company has a market capitalization of $13.57 billion, a price-to-earnings ratio of -13.67 and a beta of 1.12.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results 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 business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.10) earnings per share. Equities research analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Activity at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 78,882 shares of company stock worth $5,765,446 in the last quarter. Company insiders own 4.60% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on INSM shares. JPMorgan Chase & Co. upped their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Stifel Nicolaus boosted their price target on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, Truist Financial reiterated a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.67.

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.