Sanctuary Advisors LLC Makes New $248,000 Investment in Insmed Incorporated (NASDAQ:INSM)

Sanctuary Advisors LLC purchased a new stake in shares of Insmed Incorporated (NASDAQ:INSM) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 3,397 shares of the biopharmaceutical company’s stock, valued at approximately $248,000.

Several other large investors have also made changes to their positions in INSM. V Square Quantitative Management LLC bought a new stake in Insmed in the third quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 224 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of Insmed by 2,348.8% during the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after acquiring an additional 1,879 shares in the last quarter. Finally, JCIC Asset Management Inc. acquired a new position in shares of Insmed during the 3rd quarter valued at about $133,000.

Analysts Set New Price Targets

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

Insiders Place Their Bets

In other news, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the sale, the chief executive officer now owns 384,960 shares of the company’s stock, valued at approximately $26,912,553.60. This trade represents a 4.64 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 4.60% of the company’s stock.

Insmed Price Performance

Shares of Insmed stock opened at $69.61 on Friday. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The firm has a market cap of $12.45 billion, a P/E ratio of -12.54 and a beta of 1.10. The firm’s 50-day simple moving average is $71.90 and its 200-day simple moving average is $72.28.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.10) earnings per share. As a group, research analysts expect that Insmed Incorporated will post -5.44 EPS for the current fiscal 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.