Simplify Asset Management Inc. Acquires Shares of 20,788 Insmed Incorporated (NASDAQ:INSM)

Simplify Asset Management Inc. bought a new position in Insmed Incorporated (NASDAQ:INSM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 20,788 shares of the biopharmaceutical company’s stock, valued at approximately $1,393,000.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings 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 buying an additional 287 shares in the last quarter. EntryPoint Capital LLC acquired a new position in Insmed in the first quarter worth about $33,000. Fidelis Capital Partners LLC bought a new stake in Insmed in the first quarter valued at about $34,000. CWM LLC raised its stake in 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 in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in Insmed by 8.2% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after buying an additional 135 shares during the last quarter.

Insmed Stock Performance

Shares of INSM stock opened at $74.97 on Friday. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. The company’s 50 day moving average price is $74.73 and its two-hundred day moving average price is $51.55. The company has a market capitalization of $11.14 billion, a P/E ratio of -14.33 and a beta of 1.11.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 company’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.78) EPS. On average, analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on Monday, September 16th. The shares were 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 $7,951,559.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated 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 completion of the sale, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last quarter. 4.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Wells Fargo & Company upped their price target on Insmed from $55.00 to $77.00 and gave the company an “overweight” rating in a research report on Wednesday, May 29th. UBS Group increased their target price on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Truist Financial lowered their price objective on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research report on Monday, August 12th. Finally, Stifel Nicolaus raised their target price on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Insmed presently has an average rating of “Moderate Buy” and an average target price of $81.40.

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.