Everence Capital Management Inc. Takes $352,000 Position in Insmed Incorporated (NASDAQ:INSM)

Everence Capital Management Inc. bought a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 5,100 shares of the biopharmaceutical company’s stock, valued at approximately $352,000.

A number of other hedge funds also recently added to or reduced their stakes in INSM. V Square Quantitative Management LLC purchased a new stake in shares of Insmed during the third quarter worth $30,000. GAMMA Investing LLC raised its position in Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of Insmed by 522.5% in 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. JCIC Asset Management Inc. acquired a new position in shares of Insmed during the third quarter worth about $133,000. Finally, Quantbot Technologies LP purchased a new stake in shares of Insmed during the third quarter worth approximately $133,000.

Insmed Trading Down 4.6 %

Shares of Insmed stock opened at $66.62 on Tuesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a market capitalization of $11.92 billion, a P/E ratio of -12.00 and a beta of 1.12. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. The company’s fifty day moving average is $71.51 and its two-hundred day moving average is $72.55.

Insmed (NASDAQ:INSM) last released 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 company had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.10) earnings per share. Analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current year.

Insider Activity

In related news, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at $26,912,553.60. This represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Corporate insiders own 4.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Bank of America lifted their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. raised their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. HC Wainwright reaffirmed a “buy” rating and set a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. One equities research 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 an average rating of “Moderate Buy” and a consensus target price of $83.67.

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.