Ensign Peak Advisors Inc Acquires 44,928 Shares of Insmed Incorporated (NASDAQ:INSM)

Ensign Peak Advisors Inc raised its holdings in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) by 9.3% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 529,049 shares of the biopharmaceutical company's stock after buying an additional 44,928 shares during the quarter. Ensign Peak Advisors Inc owned about 0.30% of Insmed worth $36,526,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Jennison Associates LLC increased its holdings in Insmed by 0.6% in the 4th quarter. Jennison Associates LLC now owns 773,813 shares of the biopharmaceutical company's stock valued at $53,424,000 after buying an additional 4,560 shares during the period. Capital CS Group LLC acquired a new position in shares of Insmed in the 4th quarter valued at $586,000. Harbor Capital Advisors Inc. lifted its stake in Insmed by 237.1% during the fourth quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company's stock worth $4,115,000 after purchasing an additional 41,918 shares during the period. abrdn plc boosted its holdings in Insmed by 159.5% during the fourth quarter. abrdn plc now owns 289,653 shares of the biopharmaceutical company's stock valued at $19,998,000 after purchasing an additional 178,041 shares in the last quarter. Finally, Moody Aldrich Partners LLC bought a new stake in shares of Insmed in the 4th quarter valued at approximately $2,449,000.

Wall Street Analyst Weigh In

A number of research firms have commented on INSM. Morgan Stanley boosted their price target on shares of Insmed from $85.00 to $90.00 and gave the company an "overweight" rating in a research report on Thursday, February 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $100.00 price target on shares of Insmed in a research note on Wednesday, March 19th. JPMorgan Chase & Co. boosted their price objective on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a report on Friday, February 7th. Guggenheim reaffirmed a "buy" rating and issued a $101.00 target price on shares of Insmed in a research note on Tuesday, February 25th. Finally, Truist Financial boosted their price target on shares of Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. One research analyst has rated the stock with a sell rating and seventeen have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $94.63.

Insmed Stock Down 0.2%

Shares of INSM stock traded down $0.10 on Wednesday, hitting $65.61. 2,095,183 shares of the stock were exchanged, compared to its average volume of 2,330,021. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $11.93 billion, a P/E ratio of -11.74 and a beta of 0.84. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $84.91. The business has a 50-day moving average of $71.99 and a 200 day moving average of $73.21.

Insmed (NASDAQ:INSM - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business had revenue of $92.82 million for the quarter, compared to the consensus estimate of $91.63 million. During the same period in the prior year, the business earned ($1.06) earnings per share. Insmed's revenue was up 22.9% compared to the same quarter last year. Equities analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 18,750 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $81.03, for a total value of $1,519,312.50. Following the transaction, the chief executive officer now directly owns 334,186 shares of the company's stock, valued at $27,079,091.58. This represents a 5.31% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Sara Bonstein sold 18,322 shares of the stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $80.31, for a total transaction of $1,471,439.82. Following the completion of the transaction, the chief financial officer now directly owns 118,863 shares in the company, valued at approximately $9,545,887.53. This represents a 13.36% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,232 shares of company stock worth $6,868,473 over the last ninety days. Insiders own 3.00% 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.