GSA Capital Partners LLP Takes $376,000 Position in Insmed Incorporated (NASDAQ:INSM)

GSA Capital Partners LLP purchased a new stake in shares of Insmed Incorporated (NASDAQ:INSM) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 5,151 shares of the biopharmaceutical company’s stock, valued at approximately $376,000.

Other hedge funds have also recently made changes to their positions in the company. Kennedy Capital Management LLC purchased a new position in Insmed in the first quarter worth $267,000. Russell Investments Group Ltd. grew its position in Insmed by 15,915.2% in the first quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock worth $600,000 after acquiring an additional 21,963 shares in the last quarter. TimesSquare Capital Management LLC purchased a new position in Insmed in the third quarter worth $35,322,000. &PARTNERS purchased a new position in Insmed in the second quarter worth $300,000. Finally, Natixis purchased a new position in Insmed in the first quarter worth $191,000.

Analysts Set New Price Targets

Several research analysts recently issued reports on INSM shares. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Stifel Nicolaus upped their price target on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Bank of America upped their price target 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. Truist Financial restated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to data from MarketBeat, Insmed currently has an average rating of “Moderate Buy” and an average price target of $83.07.

Insider Activity

In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The shares were 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 in the company, valued at approximately $7,951,559.28. The trade was a 11.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction on 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 transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last 90 days. Company insiders own 4.60% of the company’s stock.

Insmed Trading Up 1.6 %

NASDAQ:INSM opened at $73.81 on Friday. 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 Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company has a market cap of $13.20 billion, a PE ratio of -13.30 and a beta of 1.12. The company has a 50 day simple moving average of $72.07 and a two-hundred day simple moving average of $65.65.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data 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 firm had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. During the same period last year, the firm posted ($1.10) earnings per share. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. Research analysts forecast that Insmed Incorporated will post -5.42 earnings per share 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.