Virtu Financial LLC lifted its stake in Insmed Incorporated (NASDAQ:INSM) by 40.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 15,284 shares of the biopharmaceutical company’s stock after acquiring an additional 4,381 shares during the quarter. Virtu Financial LLC’s holdings in Insmed were worth $365,000 at the end of the most recent reporting period.
Several other hedge funds also recently modified their holdings of the company. Orbimed Advisors LLC purchased a new stake in Insmed during the 3rd quarter worth approximately $9,919,000. Granahan Investment Management Inc. MA increased its stake in Insmed by 142.3% during the 3rd quarter. Granahan Investment Management Inc. MA now owns 520,969 shares of the biopharmaceutical company’s stock worth $9,190,000 after buying an additional 305,989 shares during the period. California Public Employees Retirement System increased its stake in Insmed by 84.0% during the 4th quarter. California Public Employees Retirement System now owns 272,103 shares of the biopharmaceutical company’s stock worth $6,498,000 after buying an additional 124,200 shares during the period. Squarepoint Ops LLC increased its stake in Insmed by 300.4% during the 3rd quarter. Squarepoint Ops LLC now owns 138,128 shares of the biopharmaceutical company’s stock worth $2,437,000 after buying an additional 103,628 shares during the period. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Insmed during the 3rd quarter worth approximately $1,785,000.
In other Insmed news, CAO John Goll sold 25,000 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $20.80, for a total value of $520,000.00. Corporate insiders own 4.95% of the company’s stock.
Several brokerages recently weighed in on INSM. Cowen reaffirmed a “buy” rating and set a $56.00 target price on shares of Insmed in a research note on Monday, January 6th. HC Wainwright reaffirmed a “buy” rating and set a $52.00 target price on shares of Insmed in a research note on Tuesday, February 4th. Canaccord Genuity started coverage on shares of Insmed in a research report on Thursday, January 2nd. They issued a “buy” rating and a $20.00 price objective on the stock. Morgan Stanley increased their price objective on shares of Insmed from $37.00 to $50.00 and gave the company an “overweight” rating in a research report on Tuesday, February 4th. Finally, Zacks Investment Research downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research report on Friday, February 7th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and seven have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $41.25.
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.
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