Abel Hall LLC Buys New Shares in Insmed Incorporated (NASDAQ:INSM)

Abel Hall LLC purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the third quarter, according to its most recent filing with the SEC. The firm purchased 3,182 shares of the biopharmaceutical company’s stock, valued at approximately $232,000.

Other hedge funds have also recently made changes to their positions in the company. CWM LLC lifted its position in shares of Insmed by 11.0% during the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares during the period. Wealth Enhancement Advisory Services LLC bought a new position in shares of Insmed during the 2nd quarter worth about $256,000. Envestnet Portfolio Solutions Inc. acquired a new stake in shares of Insmed in the 2nd quarter valued at about $330,000. Ariston Services Group bought a new stake in Insmed in the 2nd quarter valued at about $201,000. Finally, Saxon Interests Inc. acquired a new position in Insmed during the 2nd quarter worth approximately $441,000.

Analysts Set New Price Targets

A number of brokerages recently issued reports on INSM. Truist Financial reiterated a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. lifted their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Bank of America upped their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. HC Wainwright reaffirmed 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 reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Insider Activity at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. The trade was a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company’s stock.

Insmed Stock Up 0.1 %

Shares of Insmed stock opened at $75.40 on Monday. The stock has a fifty day moving average price of $72.37 and a 200-day moving average price of $70.08. 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 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same quarter last year, the company posted ($1.10) earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. On average, analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current year.

Insmed 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.