Truist Financial Corp Invests $413,000 in Insmed Incorporated (NASDAQ:INSM)

Truist Financial Corp acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,166 shares of the biopharmaceutical company’s stock, valued at approximately $413,000.

Several other large investors also recently modified their holdings of the stock. First Horizon Advisors Inc. lifted its holdings in shares of 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 in the last quarter. EntryPoint Capital LLC bought a new position in shares of Insmed in the 1st quarter worth $33,000. Fidelis Capital Partners LLC bought a new position in shares of Insmed in the 1st quarter worth $34,000. CWM LLC lifted its holdings in shares of Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares in the last quarter. Finally, Nisa Investment Advisors LLC lifted its holdings in shares of Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently issued reports on INSM. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Thursday, August 29th. Stifel Nicolaus increased their target price on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Bank of America raised their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Guggenheim raised their price objective on Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $82.73.

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated Monday, September 16th. The stock was 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 of the company’s stock, valued at $7,951,559.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the sale, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of Insmed stock in a transaction dated 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 sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 in the last quarter. 4.60% of the stock is currently owned by corporate insiders.

Insmed Trading Down 3.1 %

Shares of INSM opened at $74.27 on Friday. The business has a 50-day moving average of $74.12 and a 200 day moving average of $57.92. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The firm has a market cap of $11.04 billion, a P/E ratio of -14.20 and a beta of 1.11. 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 (NASDAQ:INSM) last announced its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share for the quarter, missing the consensus estimate of ($1.22) by ($0.72). The company had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. During the same period in the prior year, the business posted ($1.78) earnings per share. The business’s revenue was up 17.0% compared to the same quarter last year. As a group, research analysts forecast that Insmed Incorporated will post -5.41 EPS for the current year.

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.