Insmed Incorporated (NASDAQ:INSM) Shares Bought by Assetmark Inc.

Assetmark Inc. grew its stake in Insmed Incorporated (NASDAQ:INSM) by 12.9% during the 3rd quarter, Holdings Channel reports. The fund owned 26,053 shares of the biopharmaceutical company’s stock after acquiring an additional 2,975 shares during the period. Assetmark Inc.’s holdings in Insmed were worth $1,902,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of INSM. Vanguard Group Inc. grew its holdings in Insmed by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after purchasing an additional 383,714 shares during the period. Darwin Global Management Ltd. bought a new stake in shares of Insmed in the second quarter worth $237,076,000. Principal Financial Group Inc. raised its stake in shares of Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after purchasing an additional 214,130 shares in the last quarter. Clearbridge Investments LLC raised its stake in Insmed by 76.8% during the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after buying an additional 714,539 shares in the last quarter. Finally, Capital International Investors bought a new position in Insmed during the first quarter worth $43,973,000.

Insmed Price Performance

NASDAQ INSM opened at $70.60 on Thursday. 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 50 day moving average price of $72.26 and a two-hundred day moving average price of $64.08. The stock has a market capitalization of $12.63 billion, a PE ratio of -12.72 and a beta of 1.12.

Insmed (NASDAQ:INSM) last posted its 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 company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. During the same period in the prior year, the business posted ($1.10) EPS. The business’s revenue was up 18.1% on a year-over-year basis. As a group, equities analysts predict that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts recently issued reports on INSM shares. TD Cowen raised their price target on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. increased their price objective on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Stifel Nicolaus lifted their target price on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com cut Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Finally, HC Wainwright restated a “buy” rating and set a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $83.07.

Insider Activity

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction 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 sale, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, insider Michael Alexander Smith sold 27,871 shares of the 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 owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through 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 completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by 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.