Squarepoint Ops LLC Acquires Shares of 50,547 Insmed Incorporated (NASDAQ:INSM)

Squarepoint Ops LLC bought a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,547 shares of the biopharmaceutical company’s stock, valued at approximately $3,387,000.

A number of other large investors have also made changes to their positions in the stock. Capital International Investors acquired a new position in Insmed during the first quarter worth $43,973,000. Clearbridge Investments LLC purchased a new position in shares of Insmed during the 1st quarter worth $25,242,000. Vestal Point Capital LP acquired a new position in shares of Insmed during the 4th quarter valued at about $27,891,000. Fiera Capital Corp purchased a new stake in shares of Insmed in the second quarter valued at about $40,570,000. Finally, Farallon Capital Management LLC acquired a new stake in Insmed during the second quarter worth about $38,056,000.

Insmed Stock Performance

Shares of INSM stock opened at $72.88 on Wednesday. The firm has a 50 day moving average of $74.22 and a two-hundred day moving average of $54.12. The stock has a market capitalization of $10.83 billion, a PE ratio of -13.82 and a beta of 1.11. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS 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 analysts’ expectations of $87.95 million. Insmed’s quarterly revenue was up 17.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.78) earnings per share. On average, research analysts predict that Insmed Incorporated will post -5.42 EPS for the current fiscal year.

Insider Buying and Selling

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the business’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 transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred 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 sale, the insider now 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. Over the last ninety days, insiders have sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on INSM shares. Truist Financial dropped their price target 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. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. UBS Group lifted their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Mizuho boosted their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus 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.