Swiss National Bank Boosts Stake in Insmed Incorporated (NASDAQ:INSM)

Swiss National Bank increased its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 9.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 302,500 shares of the biopharmaceutical company’s stock after purchasing an additional 25,000 shares during the quarter. Swiss National Bank owned 0.17% of Insmed worth $22,082,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of INSM. V Square Quantitative Management LLC purchased a new stake in shares of Insmed during the 3rd quarter valued at about $30,000. EntryPoint Capital LLC purchased a new stake in Insmed in the first quarter worth approximately $33,000. GAMMA Investing LLC grew its position in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. raised its stake in Insmed by 83.4% during the 2nd 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 last quarter. Finally, Exchange Traded Concepts LLC lifted 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 valued at $55,000 after buying an additional 627 shares during the period.

Insmed Stock Performance

NASDAQ INSM opened at $73.81 on Friday. 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 twelve month low of $21.92 and a twelve month high of $80.53. The business has a 50-day moving average price of $72.07 and a 200-day moving average price of $65.65. The firm has a market cap of $13.20 billion, a price-to-earnings ratio of -13.30 and a beta of 1.12.

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 business had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm earned ($1.10) EPS. As a group, equities research analysts predict that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction that occurred 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 sale, the insider now owns 106,134 shares of the company’s stock, valued at $7,951,559.28. The trade was a 11.24 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This represents a 29.12 % 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. Insiders own 4.60% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INSM. Stifel Nicolaus lifted their price objective on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. StockNews.com lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. Truist Financial reissued a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. upped their target price on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Finally, TD Cowen lifted their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.07.

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.