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

Blueshift Asset Management LLC bought a new position in Insmed Incorporated (NASDAQ:INSM) in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 4,997 shares of the biopharmaceutical company’s stock, valued at approximately $365,000.

Several other institutional investors have also recently made changes to their positions in the company. Nisa Investment Advisors LLC boosted its position in Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares during the last quarter. CIBC Asset Management Inc raised its stake in shares of Insmed by 3.5% during the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after purchasing an additional 149 shares during the period. CWM LLC boosted its holdings in shares of Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after buying an additional 155 shares during the last quarter. Commerce Bank grew its position in Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after buying an additional 163 shares during the period. Finally, GAMMA Investing LLC increased its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 224 shares during the last quarter.

Analysts Set New Price Targets

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

Insmed Stock Performance

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

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the company earned ($1.10) earnings per share. Analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Insider Transactions at Insmed

In related news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by corporate 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.