Allspring Global Investments Holdings LLC Grows Stock Position in Insmed, Inc. (NASDAQ:INSM)

Allspring Global Investments Holdings LLC grew its holdings in shares of Insmed, Inc. (NASDAQ:INSM - Free Report) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 438,674 shares of the biopharmaceutical company's stock after buying an additional 15,580 shares during the period. Allspring Global Investments Holdings LLC owned 0.24% of Insmed worth $31,585,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. National Bank of Canada FI lifted its holdings in shares of Insmed by 9.7% during the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company's stock valued at $115,000 after purchasing an additional 147 shares during the last quarter. Snowden Capital Advisors LLC grew its holdings in shares of Insmed by 2.5% in the fourth quarter. Snowden Capital Advisors LLC now owns 6,602 shares of the biopharmaceutical company's stock worth $456,000 after acquiring an additional 158 shares during the period. Steward Partners Investment Advisory LLC increased its position in shares of Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock valued at $29,000 after purchasing an additional 163 shares during the last quarter. M&T Bank Corp raised its position in Insmed by 5.6% in the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company's stock worth $217,000 after acquiring an additional 166 shares during the period. Finally, Envestnet Portfolio Solutions Inc. lifted its position in Insmed by 3.7% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 6,314 shares of the biopharmaceutical company's stock valued at $436,000 after purchasing an additional 225 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on INSM shares. Leerink Partners upped their target price on shares of Insmed from $100.00 to $115.00 and gave the stock an "outperform" rating in a research report on Tuesday, June 10th. HC Wainwright boosted their price target on Insmed from $90.00 to $120.00 and gave the company a "buy" rating in a report on Wednesday, June 11th. Royal Bank Of Canada boosted their target price on shares of Insmed from $99.00 to $106.00 and gave the stock an "outperform" rating in a report on Wednesday, June 11th. Citigroup raised shares of Insmed to a "buy" rating in a research report on Tuesday, June 10th. Finally, Morgan Stanley increased their price objective on shares of Insmed from $90.00 to $102.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 11th. One analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company's stock. According to MarketBeat.com, Insmed has a consensus rating of "Moderate Buy" and a consensus target price of $106.80.

Insmed Stock Performance

INSM stock traded up $0.26 during midday trading on Friday, hitting $98.50. The stock had a trading volume of 1,762,381 shares, compared to its average volume of 2,307,570. The stock has a 50-day simple moving average of $80.87 and a 200 day simple moving average of $76.42. The company has a current ratio of 5.86, a quick ratio of 5.44 and a debt-to-equity ratio of 11.38. The firm has a market capitalization of $18.69 billion, a price-to-earnings ratio of -16.55 and a beta of 0.90. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $106.83.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.36) by ($0.06). Insmed had a negative net margin of 265.93% and a negative return on equity of 446.98%. The business had revenue of $92.82 million during the quarter, compared to the consensus estimate of $91.63 million. During the same quarter in the prior year, the company earned ($1.06) EPS. Insmed's quarterly revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts anticipate that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Buying and Selling at Insmed

In other Insmed news, insider Michael Alexander Smith sold 1,879 shares of Insmed stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $73.50, for a total transaction of $138,106.50. Following the completion of the transaction, the insider owned 67,718 shares in the company, valued at approximately $4,977,273. The trade was a 2.70% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the company's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total value of $9,264,648.24. Following the completion of the transaction, the insider owned 89,407 shares of the company's stock, valued at $8,352,401.94. This trade represents a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 488,752 shares of company stock worth $43,199,826 in the last ninety days. 3.00% of the stock is currently owned by corporate insiders.

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.