Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Insmed Incorporated (NASDAQ:INSM)

Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Insmed Incorporated (NASDAQ:INSM) by 18.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 43,476 shares of the biopharmaceutical company’s stock after acquiring an additional 6,755 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Insmed were worth $3,002,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in INSM. Atria Investments Inc raised its holdings in Insmed by 61.7% in the third quarter. Atria Investments Inc now owns 4,985 shares of the biopharmaceutical company’s stock valued at $364,000 after acquiring an additional 1,902 shares in the last quarter. Los Angeles Capital Management LLC raised its holdings in Insmed by 164.8% in the third quarter. Los Angeles Capital Management LLC now owns 10,179 shares of the biopharmaceutical company’s stock valued at $743,000 after acquiring an additional 6,335 shares in the last quarter. GSA Capital Partners LLP acquired a new stake in Insmed in the third quarter valued at approximately $376,000. Aigen Investment Management LP acquired a new stake in Insmed in the third quarter valued at approximately $297,000. Finally, Victory Capital Management Inc. raised its holdings in Insmed by 209.9% in the third quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock valued at $33,285,000 after acquiring an additional 308,819 shares in the last quarter.

Insmed Stock Up 2.0 %

INSM stock opened at $76.55 on Friday. The company has a fifty day moving average price of $76.17 and a 200 day moving average price of $73.71. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The company has a market cap of $13.86 billion, a price-to-earnings ratio of -13.69 and a beta of 1.28. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.17) by ($0.15). The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. Sell-side analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 3,344 shares of the business’s stock in a transaction on Tuesday, January 7th. The shares were sold at an average price of $65.91, for a total value of $220,403.04. Following the transaction, the insider now directly owns 102,766 shares of the company’s stock, valued at approximately $6,773,307.06. The trade was a 3.15 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,885,606.40. This represents a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 550,957 shares of company stock valued at $42,859,028. 4.60% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. JPMorgan Chase & Co. raised their target price on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday, February 7th. UBS Group raised their price objective on shares of Insmed from $105.00 to $110.00 and gave the stock a “buy” rating in a report on Thursday, March 6th. Royal Bank of Canada began coverage on shares of Insmed in a report on Tuesday, February 25th. They set an “outperform” rating and a $100.00 price objective on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. Finally, Wells Fargo & Company raised their price objective on shares of Insmed from $85.00 to $107.00 and gave the stock an “overweight” rating in a report on Wednesday, February 19th. One research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $93.33.

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.