Harbor Capital Advisors Inc. Increases Holdings in Insmed Incorporated (NASDAQ:INSM)

Harbor Capital Advisors Inc. increased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 237.1% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 59,600 shares of the biopharmaceutical company’s stock after purchasing an additional 41,918 shares during the period. Harbor Capital Advisors Inc.’s holdings in Insmed were worth $4,115,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Geode Capital Management LLC lifted its holdings in shares of Insmed by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after buying an additional 172,664 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in Insmed during the 2nd quarter worth approximately $237,076,000. Principal Financial Group Inc. lifted its stake in Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after purchasing an additional 214,130 shares in the last quarter. Clearbridge Investments LLC boosted its holdings in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares during the period. Finally, Vestal Point Capital LP grew its position in shares of Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after purchasing an additional 850,000 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the company. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Bank of America raised their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. boosted their price objective on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a report on Friday, November 22nd. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $83.67.

Insider Transactions at Insmed

In related news, CEO William Lewis sold 2,978 shares of the firm’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $63.36, for a total value of $188,686.08. Following the sale, the chief executive officer now directly owns 392,589 shares of the company’s stock, valued at $24,874,439.04. This trade represents a 0.75 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Martina M.D. Flammer sold 6,172 shares of the business’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now owns 101,549 shares in the company, valued at approximately $6,462,578.36. This represents a 5.73 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 70,094 shares of company stock worth $4,733,986. Insiders own 4.60% of the company’s stock.

Insmed Stock Performance

NASDAQ INSM opened at $65.25 on Friday. The company has a 50-day simple moving average of $71.23 and a two-hundred day simple moving average of $72.42. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The firm has a market cap of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. Insmed’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the previous year, the company earned ($1.10) EPS. On average, equities analysts forecast that Insmed Incorporated will post -5.44 EPS for the current year.

About Insmed

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.