Loomis Sayles & Co. L P Has $88.34 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Loomis Sayles & Co. L P decreased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 1.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,210,187 shares of the biopharmaceutical company’s stock after selling 16,539 shares during the quarter. Loomis Sayles & Co. L P owned about 0.68% of Insmed worth $88,343,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Westfield Capital Management Co. LP acquired a new stake in Insmed in the 3rd quarter valued at $18,377,000. Cerity Partners LLC grew its holdings in shares of Insmed by 513.6% during the third quarter. Cerity Partners LLC now owns 21,348 shares of the biopharmaceutical company’s stock valued at $1,558,000 after buying an additional 17,869 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Insmed by 10.5% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock worth $105,431,000 after acquiring an additional 137,670 shares in the last quarter. Intech Investment Management LLC bought a new stake in shares of Insmed during the third quarter worth about $3,401,000. Finally, Jennison Associates LLC raised its holdings in shares of Insmed by 3.4% in the 3rd quarter. Jennison Associates LLC now owns 769,253 shares of the biopharmaceutical company’s stock worth $56,155,000 after acquiring an additional 24,973 shares during the last quarter.

Insmed Price Performance

Insmed stock opened at $73.15 on Monday. The business’s 50 day simple moving average is $72.04 and its 200 day simple moving average is $66.60. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a market cap of $13.09 billion, a price-to-earnings ratio of -13.18 and a beta of 1.12. 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 (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period last year, the firm earned ($1.10) EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Sell-side analysts forecast that Insmed Incorporated will post -5.42 EPS for the current year.

Insider Transactions at Insmed

In other news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last quarter. Corporate insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on INSM. Bank of America boosted their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $105.00 price target (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 company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.67.

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.