Allspring Global Investments Holdings LLC lowered its position in Insmed, Inc. (NASDAQ:INSM - Free Report) by 30.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 304,310 shares of the biopharmaceutical company's stock after selling 134,364 shares during the period. Allspring Global Investments Holdings LLC owned 0.16% of Insmed worth $29,707,000 at the end of the most recent quarter.
Other institutional investors have also modified their holdings of the company. Hilltop National Bank purchased a new position in shares of Insmed during the 2nd quarter worth $28,000. ORG Partners LLC raised its holdings in shares of Insmed by 220.2% during the 2nd quarter. ORG Partners LLC now owns 285 shares of the biopharmaceutical company's stock worth $28,000 after acquiring an additional 196 shares during the period. Cullen Frost Bankers Inc. raised its holdings in shares of Insmed by 164.9% during the 1st quarter. Cullen Frost Bankers Inc. now owns 355 shares of the biopharmaceutical company's stock worth $27,000 after acquiring an additional 221 shares during the period. LRI Investments LLC purchased a new position in shares of Insmed during the 2nd quarter worth $59,000. Finally, Signaturefd LLC increased its position in shares of Insmed by 60.0% during the 1st quarter. Signaturefd LLC now owns 867 shares of the biopharmaceutical company's stock worth $66,000 after purchasing an additional 325 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of analysts recently issued reports on INSM shares. Mizuho raised their price objective on Insmed from $130.00 to $165.00 and gave the stock an "outperform" rating in a research report on Wednesday, August 13th. Truist Financial raised their price objective on Insmed from $126.00 to $139.00 and gave the stock a "buy" rating in a research report on Thursday, August 14th. Cowen reissued a "buy" rating on shares of Insmed in a research report on Thursday, October 2nd. JPMorgan Chase & Co. lifted their target price on Insmed from $111.00 to $135.00 and gave the company an "overweight" rating in a research report on Wednesday, August 20th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Insmed in a research report on Wednesday, October 8th. Nineteen analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $152.88.
Check Out Our Latest Research Report on INSM
Insiders Place Their Bets
In other news, Director Melvin Md Sharoky sold 10,000 shares of Insmed stock in a transaction dated Friday, September 12th. The stock was sold at an average price of $145.39, for a total value of $1,453,900.00. Following the completion of the transaction, the director owned 262,675 shares in the company, valued at approximately $38,190,318.25. This trade represents a 3.67% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 24,272 shares of Insmed stock in a transaction dated Tuesday, September 2nd. The shares were sold at an average price of $143.89, for a total value of $3,492,498.08. Following the completion of the transaction, the insider owned 54,902 shares of the company's stock, valued at $7,899,848.78. The trade was a 30.66% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 211,057 shares of company stock worth $27,438,126. Corporate insiders own 3.00% of the company's stock.
Insmed Stock Performance
Shares of INSM opened at $163.54 on Thursday. The stock has a 50-day simple moving average of $141.18 and a 200-day simple moving average of $103.59. The company has a debt-to-equity ratio of 0.45, a quick ratio of 6.33 and a current ratio of 6.68. The stock has a market capitalization of $34.57 billion, a PE ratio of -28.64 and a beta of 1.03. Insmed, Inc. has a 1 year low of $60.40 and a 1 year high of $166.44.
Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, August 7th. The biopharmaceutical company reported ($1.70) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.30) by ($0.40). The company had revenue of $107.42 million during the quarter, compared to analysts' expectations of $104.06 million. Insmed had a negative net margin of 259.82% and a negative return on equity of 195.37%. The business's quarterly revenue was up 18.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($1.94) EPS. Insmed has set its FY 2025 guidance at EPS. On average, analysts predict that Insmed, Inc. will post -4.56 earnings per share for the current fiscal year.
Insmed Company Profile
(
Free Report)
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.
Further Reading
Want to see what other hedge funds are holding INSM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Insmed, Inc. (NASDAQ:INSM - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Insmed, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Insmed wasn't on the list.
While Insmed currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
