Zurcher Kantonalbank Zurich Cantonalbank Has $2.68 Million Holdings in Insmed Incorporated (NASDAQ:INSM)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Insmed Incorporated (NASDAQ:INSM) by 7.3% during the 3rd quarter, Holdings Channel reports. The fund owned 36,721 shares of the biopharmaceutical company’s stock after acquiring an additional 2,485 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Insmed were worth $2,681,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. TimesSquare Capital Management LLC bought a new position in Insmed in the 3rd quarter worth approximately $35,322,000. &PARTNERS bought a new position in Insmed in the 2nd quarter worth approximately $300,000. Jennison Associates LLC raised its position in 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 purchasing an additional 24,973 shares during the last quarter. WCM Investment Management LLC raised its position in Insmed by 58.6% in the 3rd quarter. WCM Investment Management LLC now owns 148,330 shares of the biopharmaceutical company’s stock worth $10,751,000 after purchasing an additional 54,806 shares during the last quarter. Finally, Saxon Interests Inc. bought a new position in Insmed in the 2nd quarter worth approximately $441,000.

Insider Buying and Selling

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. This represents a 27.29 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction dated 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 transaction, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This 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 sold 78,882 shares of company stock valued at $5,765,446. Company insiders own 4.60% of the company’s stock.

Insmed Price Performance

INSM opened at $72.43 on Wednesday. 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 12 month low of $21.92 and a 12 month high of $80.53. The company has a fifty day simple moving average of $72.21 and a 200 day simple moving average of $69.01. The stock has a market cap of $12.96 billion, a P/E ratio of -13.05 and a beta of 1.10.

Insmed (NASDAQ:INSM) last announced its 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 company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.10) earnings per share. On average, research analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

Analyst Ratings Changes

Several research analysts recently weighed in on the stock. UBS Group boosted their price objective on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. Bank of America upped their target price on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Finally, JPMorgan Chase & Co. upped their target price on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

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.