Cerity Partners LLC Increases Holdings in Insmed Incorporated (NASDAQ:INSM)

Cerity Partners LLC grew its holdings in Insmed Incorporated (NASDAQ:INSM) by 513.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 21,348 shares of the biopharmaceutical company’s stock after acquiring an additional 17,869 shares during the period. Cerity Partners LLC’s holdings in Insmed were worth $1,558,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also made changes to their positions in INSM. V Square Quantitative Management LLC bought a new stake in Insmed during the third quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after acquiring an additional 224 shares in the last quarter. First Horizon Advisors Inc. grew 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 purchasing an additional 287 shares during the last quarter. Exchange Traded Concepts LLC grew its stake in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares during the last quarter. Finally, CWM LLC grew its stake in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after acquiring an additional 155 shares during the last quarter.

Insider Buying and Selling at Insmed

In other Insmed 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 sale, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 29.12 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock valued at $5,765,446 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on INSM shares. HC Wainwright restated a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Truist Financial restated a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. UBS Group boosted their price target on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Finally, StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One research 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, Insmed has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insmed Trading Up 0.0 %

Shares of NASDAQ:INSM opened at $72.43 on Wednesday. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The company has a market capitalization of $12.96 billion, a PE ratio of -13.05 and a beta of 1.10. The business has a 50 day moving average of $72.21 and a two-hundred day moving average of $69.01. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period in the previous year, the firm earned ($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, analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

Insmed 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.