GAMMA Investing LLC Raises Holdings in Insmed Incorporated (NASDAQ:INSM)

GAMMA Investing LLC raised its stake in Insmed Incorporated (NASDAQ:INSM) by 71.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 538 shares of the biopharmaceutical company’s stock after purchasing an additional 224 shares during the period. GAMMA Investing LLC’s holdings in Insmed were worth $39,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also made changes to their positions in the company. Darwin Global Management Ltd. acquired a new stake in Insmed in the second quarter valued at approximately $237,076,000. Capital International Investors purchased a new stake in shares of Insmed in the 1st quarter valued at approximately $43,973,000. Clearbridge Investments LLC acquired a new stake in shares of Insmed in the 1st quarter valued at $25,242,000. Fiera Capital Corp purchased a new stake in shares of Insmed during the 2nd quarter worth $40,570,000. Finally, Farallon Capital Management LLC acquired a new position in shares of Insmed during the second quarter worth $38,056,000.

Insmed Stock Performance

NASDAQ INSM opened at $74.27 on Friday. The firm has a market cap of $11.04 billion, a P/E ratio of -14.20 and a beta of 1.11. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The business’s 50-day moving average price is $74.12 and its 200 day moving average price is $57.92. 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 (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share 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 company’s revenue for the quarter 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, equities research analysts expect that Insmed Incorporated will post -5.41 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INSM. Stifel Nicolaus raised their price target on Insmed from $74.00 to $88.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group raised their target price on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Truist Financial boosted their target price on Insmed from $85.00 to $100.00 and gave the stock a “buy” rating in a research note on Friday, October 11th. Evercore ISI increased their price target on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday, June 21st. Finally, TD Cowen boosted their price objective on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $82.73.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction on 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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, insider Martina M.D. Flammer sold 13,436 shares of Insmed 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 directly owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Alexander Smith sold 27,871 shares of the 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 completion of the transaction, the insider now owns 67,856 shares of the company’s stock, valued at $5,045,093.60. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 in the last three months. Insiders own 4.60% of the company’s stock.

Insmed 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.