Rhumbline Advisers Has $30.66 Million Stock Position in Insmed, Inc. $INSM

Rhumbline Advisers boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 2.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,903 shares of the biopharmaceutical company’s stock after purchasing an additional 4,558 shares during the quarter. Rhumbline Advisers owned 0.10% of Insmed worth $30,660,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Yousif Capital Management LLC acquired a new position in shares of Insmed during the second quarter valued at about $201,000. Sagespring Wealth Partners LLC acquired a new stake in Insmed during the second quarter worth about $254,000. Allianz Asset Management GmbH increased its stake in Insmed by 6.8% during the second quarter. Allianz Asset Management GmbH now owns 80,422 shares of the biopharmaceutical company’s stock valued at $8,094,000 after acquiring an additional 5,138 shares during the period. Stratos Wealth Partners LTD. acquired a new position in Insmed in the 2nd quarter valued at approximately $223,000. Finally, Mutual of America Capital Management LLC lifted its position in shares of Insmed by 9.3% in the 2nd quarter. Mutual of America Capital Management LLC now owns 86,492 shares of the biopharmaceutical company’s stock worth $8,705,000 after acquiring an additional 7,351 shares during the period.

Insmed Stock Up 1.8%

Shares of NASDAQ:INSM opened at $148.75 on Monday. The company’s fifty day moving average is $169.05 and its 200-day moving average is $162.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75. The company has a market capitalization of $31.72 billion, a PE ratio of -24.03 and a beta of 1.11.

Analyst Upgrades and Downgrades

INSM has been the topic of a number of research reports. Guggenheim lowered their price objective on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Weiss Ratings reissued a “sell (d-)” rating on shares of Insmed in a report on Thursday, January 22nd. Bank of America set a $203.00 price objective on shares of Insmed in a research note on Thursday, December 18th. Mizuho set a $212.00 target price on shares of Insmed in a research report on Thursday, December 18th. Finally, Wolfe Research set a $167.00 target price on shares of Insmed and gave the company an “outperform” rating in a research note on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Insmed currently has a consensus rating of “Buy” and a consensus target price of $204.24.

Insider Transactions at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the sale, the insider owned 41,754 shares in the company, valued at approximately $7,315,300.80. This represents a 67.64% 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 link. Also, CEO William Lewis sold 19,215 shares of the firm’s stock in a transaction on Monday, January 12th. The shares were sold at an average price of $169.00, for a total value of $3,247,335.00. Following the completion of the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at approximately $51,864,579. This trade represents a 5.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 173,253 shares of company stock valued at $29,629,842 in the last three months. 3.00% of the stock is owned by corporate insiders.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.