Federated Hermes Inc. Acquires 9,979 Shares of Insmed Incorporated (NASDAQ:INSM)

Federated Hermes Inc. boosted its holdings in Insmed Incorporated (NASDAQ:INSM) by 11,879.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,063 shares of the biopharmaceutical company’s stock after purchasing an additional 9,979 shares during the period. Federated Hermes Inc.’s holdings in Insmed were worth $674,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. EntryPoint Capital LLC bought a new position in shares of Insmed in the 1st quarter valued at about $33,000. Fidelis Capital Partners LLC acquired a new position in Insmed during the first quarter valued at approximately $34,000. First Horizon Advisors Inc. grew its stake in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after purchasing an additional 287 shares in the last quarter. Headlands Technologies LLC acquired a new position in shares of Insmed during the 1st quarter worth approximately $59,000. Finally, CWM LLC raised its stake in shares of Insmed by 11.0% during 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.

Insider Transactions at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares of the company’s stock, valued at $7,157,150. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on INSM shares. Stifel Nicolaus raised their target price on shares of Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Mizuho boosted their price objective on shares of Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. The Goldman Sachs Group upped their target price on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, July 10th. UBS Group lifted their price target on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, TD Cowen upped their price objective on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

Insmed Stock Down 1.0 %

INSM stock opened at $74.21 on Monday. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The company has a debt-to-equity ratio of 25.05, a current ratio of 2.71 and a quick ratio of 2.53. The stock has a market capitalization of $11.03 billion, a price-to-earnings ratio of -14.19 and a beta of 1.11. The business’s fifty day moving average price is $74.68 and its two-hundred day moving average price is $52.21.

Insmed (NASDAQ:INSM) last released its quarterly 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 company had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. The business’s revenue for the quarter was up 17.0% compared to the same quarter last year. During the same quarter last year, the company posted ($1.78) earnings per share. On average, equities analysts anticipate that Insmed Incorporated will post -5.42 earnings per share 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.