Geode Capital Management LLC Purchases 172,664 Shares of Insmed Incorporated (NASDAQ:INSM)

Geode Capital Management LLC grew its position in shares of Insmed Incorporated (NASDAQ:INSM) by 4.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,813,384 shares of the biopharmaceutical company’s stock after acquiring an additional 172,664 shares during the quarter. Geode Capital Management LLC owned 2.13% of Insmed worth $278,432,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Ally Bridge Group NY LLC increased its position in shares of Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after acquiring an additional 21,833 shares during the last quarter. Vestal Point Capital LP boosted its holdings in shares of Insmed by 113.3% in the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after buying an additional 850,000 shares during the last quarter. TimesSquare Capital Management LLC acquired a new stake in shares of Insmed in the 3rd quarter valued at approximately $35,322,000. &PARTNERS bought a new position in shares of Insmed in the second quarter valued at $300,000. Finally, Orion Portfolio Solutions LLC increased its holdings in Insmed by 48.5% during the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock worth $2,050,000 after buying an additional 9,170 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Insmed Price Performance

Shares of Insmed stock opened at $71.63 on Friday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The stock has a market capitalization of $12.81 billion, a price-to-earnings ratio of -12.91 and a beta of 1.10. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The company has a 50-day simple moving average of $72.38 and a two-hundred day simple moving average of $71.32.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted ($1.10) EPS. Analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

Insider Activity

In other news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 4.60% of the company’s stock.

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.