Insmed Incorporated (NASDAQ:INSM) Shares Acquired by Hood River Capital Management LLC

Hood River Capital Management LLC lifted its position in shares of Insmed Incorporated (NASDAQ:INSM) by 36.7% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,315,392 shares of the biopharmaceutical company’s stock after purchasing an additional 352,891 shares during the quarter. Insmed comprises approximately 1.8% of Hood River Capital Management LLC’s holdings, making the stock its 11th largest holding. Hood River Capital Management LLC owned approximately 0.89% of Insmed worth $88,131,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Insmed by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Insmed by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after purchasing an additional 218,480 shares in the last quarter. Capital International Investors purchased a new position in Insmed in the first quarter valued at about $43,973,000. Norges Bank acquired a new position in shares of Insmed during the fourth quarter worth about $45,029,000. Finally, Clearbridge Investments LLC purchased a new stake in shares of Insmed in the first quarter worth about $25,242,000.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Evercore ISI raised their target price on Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a report on Friday, June 21st. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Truist Financial decreased their target price on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, August 12th. Wells Fargo & Company lifted their price target on shares of Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 29th. Finally, Bank of America reissued a “buy” rating and issued a $83.00 price objective on shares of Insmed in a research report on Friday, July 5th. One research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $81.40.

Insider Buying and Selling

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the firm’s 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 sale, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company’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 transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, 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 worth $5,765,446 in the last three months. 4.60% of the stock is owned by insiders.

Insmed Trading Down 1.0 %

Insmed stock opened at $74.21 on Monday. 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 1 year low of $21.92 and a 1 year high of $80.53. The firm’s 50-day moving average is $74.68 and its 200-day moving average is $52.21. The company has a market cap of $11.03 billion, a P/E ratio of -14.19 and a beta of 1.11.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) 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 the consensus estimate of $87.95 million. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.78) EPS. On average, equities analysts expect that Insmed Incorporated will post -5.42 earnings per share 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.