Insmed, Inc. $INSM Holdings Boosted by Eventide Asset Management LLC

Eventide Asset Management LLC lifted its holdings in Insmed, Inc. (NASDAQ:INSM) by 1.3% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,196,494 shares of the biopharmaceutical company’s stock after acquiring an additional 14,819 shares during the quarter. Insmed accounts for about 2.1% of Eventide Asset Management LLC’s holdings, making the stock its 5th biggest holding. Eventide Asset Management LLC owned approximately 0.57% of Insmed worth $120,411,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ORG Partners LLC lifted its stake in shares of Insmed by 220.2% in the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company’s stock valued at $28,000 after acquiring an additional 196 shares during the last quarter. Hilltop National Bank purchased a new position in Insmed in the 2nd quarter worth approximately $28,000. FNY Investment Advisers LLC bought a new stake in Insmed in the second quarter valued at approximately $33,000. LRI Investments LLC purchased a new stake in shares of Insmed during the second quarter valued at approximately $59,000. Finally, EverSource Wealth Advisors LLC grew its holdings in Insmed by 65.6% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 664 shares of the biopharmaceutical company’s stock worth $67,000 after acquiring an additional 263 shares during the last quarter.

Insider Activity

In other news, Director Leo Lee sold 75,000 shares of the business’s stock in a transaction on Monday, November 17th. The stock was sold at an average price of $195.90, for a total value of $14,692,500.00. Following the completion of the transaction, the director owned 54,677 shares in the company, valued at $10,711,224.30. The trade was a 57.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Michael Alexander Smith sold 27,130 shares of the company’s stock in a transaction on Monday, November 3rd. The shares were sold at an average price of $183.78, for a total value of $4,985,951.40. Following the transaction, the insider directly owned 54,902 shares in the company, valued at approximately $10,089,889.56. The trade was a 33.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 147,130 shares of company stock worth $28,480,051. Corporate insiders own 3.00% of the company’s stock.

Insmed Stock Up 0.9%

INSM stock opened at $197.01 on Friday. The business has a 50 day moving average of $185.10 and a 200 day moving average of $138.91. The firm has a market cap of $42.02 billion, a PE ratio of -31.83 and a beta of 1.01. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing the consensus estimate of ($1.35) by ($0.40). Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The company had revenue of $142.34 million during the quarter, compared to the consensus estimate of $114.33 million. During the same period last year, the firm posted ($1.27) earnings per share. The company’s revenue was up 52.4% compared to the same quarter last year. On average, research analysts forecast that Insmed, Inc. will post -4.56 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently commented on INSM. Mizuho upped their price objective on shares of Insmed from $196.00 to $256.00 and gave the company an “outperform” rating in a research note on Monday, December 1st. Rothschild & Co Redburn began coverage on Insmed in a report on Thursday, December 4th. They set a “buy” rating and a $263.00 target price for the company. Guggenheim boosted their price objective on shares of Insmed from $125.00 to $172.00 and gave the company a “buy” rating in a research report on Monday, September 8th. Wells Fargo & Company raised their target price on shares of Insmed from $171.00 to $217.00 and gave the stock an “overweight” rating in a research report on Friday, October 31st. Finally, The Goldman Sachs Group lifted their target price on shares of Insmed from $196.00 to $225.00 and gave the company a “buy” rating in a research note on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $196.26.

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.