Essex Investment Management Co. LLC Has $5.64 Million Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Essex Investment Management Co. LLC lowered its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 25.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 77,193 shares of the biopharmaceutical company’s stock after selling 25,991 shares during the period. Insmed makes up 1.0% of Essex Investment Management Co. LLC’s investment portfolio, making the stock its 24th biggest holding. Essex Investment Management Co. LLC owned about 0.05% of Insmed worth $5,635,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. EntryPoint Capital LLC bought a new stake in Insmed during the 1st quarter valued at $33,000. Fidelis Capital Partners LLC bought a new stake in shares of Insmed during the first quarter worth about $34,000. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 224 shares during the last quarter. First Horizon Advisors Inc. lifted its position in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares in the last quarter. Finally, Exchange Traded Concepts LLC boosted its stake in 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 purchasing an additional 627 shares during the last quarter.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. TD Cowen raised their price target on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial boosted their target price on Insmed from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday. StockNews.com downgraded Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. UBS Group boosted their price objective on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Morgan Stanley raised their target price on Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a research report on Friday, July 12th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $82.73.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 over the last quarter. 4.60% of the stock is owned by company insiders.

Insmed Price Performance

NASDAQ INSM traded up $2.86 on Friday, reaching $74.56. 1,327,808 shares of the company’s stock traded hands, compared to its average volume of 2,364,865. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The stock has a market cap of $11.08 billion, a PE ratio of -14.26 and a beta of 1.11. The stock has a 50-day simple moving average of $73.84 and a 200 day simple moving average of $56.80. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53.

Insmed (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The business had revenue of $90.34 million during the quarter, compared to analysts’ expectations of $87.95 million. The business’s revenue was up 17.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.78) EPS. As a group, research analysts predict that Insmed Incorporated will post -5.41 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.