Two Sigma Advisers LP Acquires 97,300 Shares of Insmed Incorporated (NASDAQ:INSM)

Two Sigma Advisers LP increased its holdings in Insmed Incorporated (NASDAQ:INSM) by 32.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 392,700 shares of the biopharmaceutical company’s stock after buying an additional 97,300 shares during the period. Two Sigma Advisers LP’s holdings in Insmed were worth $28,667,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. V Square Quantitative Management LLC purchased a new stake in shares of Insmed during the third quarter worth $30,000. GAMMA Investing LLC lifted its holdings in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. boosted its stake in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the period. Exchange Traded Concepts LLC grew its holdings 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 buying an additional 627 shares in the last quarter. Finally, CWM LLC increased its position in shares of Insmed by 11.0% during the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 155 shares during the period.

Analyst Upgrades and Downgrades

Several brokerages recently commented on INSM. JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. Bank of America boosted 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 reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Finally, HC Wainwright restated a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat, Insmed presently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Insmed Stock Up 0.1 %

Shares of NASDAQ INSM opened at $75.40 on Friday. The stock has a market capitalization of $13.49 billion, a P/E ratio of -13.59 and a beta of 1.10. 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 Incorporated has a one year low of $21.92 and a one year high of $80.53. The firm’s 50 day simple moving average is $72.37 and its two-hundred day simple moving average is $69.76.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The business’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($1.10) earnings per share. As a group, analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Insider Activity

In other news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s 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 sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. This represents a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by insiders.

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.