Bamco Inc. NY Buys Shares of 40,500 Insmed Incorporated (NASDAQ:INSM)

Bamco Inc. NY purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 40,500 shares of the biopharmaceutical company’s stock, valued at approximately $2,956,000.

A number of other institutional investors also recently modified their holdings of INSM. V Square Quantitative Management LLC acquired a new position in Insmed in the third quarter valued at $30,000. GAMMA Investing LLC increased its holdings in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 287 shares during the period. Exchange Traded Concepts LLC boosted its holdings in shares of Insmed by 522.5% during the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares in the last quarter. Finally, CWM LLC grew 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 worth $105,000 after buying an additional 155 shares during the period.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction 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 completion of the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. The trade was a 29.12 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by corporate insiders.

Insmed Stock Performance

INSM stock opened at $72.43 on Wednesday. The business has a 50 day moving average of $72.21 and a 200-day moving average of $69.01. 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 firm has a market cap of $12.96 billion, a PE ratio of -13.05 and a beta of 1.10. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data 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 business had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period last year, the business posted ($1.10) earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, sell-side analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages recently issued reports on INSM. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Stifel Nicolaus raised their price objective on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, JPMorgan Chase & Co. upped their target price on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus 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.