Fulton Bank N.A. Purchases New Stake in Insmed Incorporated (NASDAQ:INSM)

Fulton Bank N.A. bought a new position in Insmed Incorporated (NASDAQ:INSM - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,476 shares of the biopharmaceutical company's stock, valued at approximately $341,000.

Several other hedge funds also recently made changes to their positions in the company. Elequin Capital LP bought a new position in Insmed during the 4th quarter worth $28,000. Steward Partners Investment Advisory LLC grew its stake in Insmed by 65.2% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company's stock worth $29,000 after buying an additional 163 shares during the last quarter. V Square Quantitative Management LLC grew its stake in Insmed by 60.3% during the 4th quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock worth $45,000 after buying an additional 248 shares during the last quarter. Spire Wealth Management bought a new position in Insmed during the 4th quarter worth $47,000. Finally, NBC Securities Inc. bought a new position in Insmed during the 1st quarter worth $49,000.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Jefferies Financial Group assumed coverage on Insmed in a research report on Tuesday, May 13th. They set a "buy" rating and a $105.00 price target for the company. Stifel Nicolaus reduced their price target on Insmed from $97.00 to $96.00 and set a "buy" rating for the company in a research report on Friday, February 21st. Guggenheim reiterated a "buy" rating and set a $101.00 price target on shares of Insmed in a research report on Tuesday, February 25th. Truist Financial boosted their price target on Insmed from $105.00 to $108.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. boosted their price target on Insmed from $83.00 to $92.00 and gave the stock an "overweight" rating in a research report on Friday, February 7th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $96.73.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 8,870 shares of the business's stock in a transaction on Tuesday, May 13th. The stock was sold at an average price of $67.81, for a total transaction of $601,474.70. Following the sale, the chief financial officer now directly owns 109,993 shares of the company's stock, valued at $7,458,625.33. The trade was a 7.46% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO William Lewis sold 18,750 shares of the business's stock in a transaction on Monday, March 17th. The stock was sold at an average price of $77.03, for a total value of $1,444,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares in the company, valued at $25,742,347.58. This trade represents a 5.31% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 162,994 shares of company stock valued at $11,320,938 over the last three months. Company insiders own 3.00% of the company's stock.

Insmed Price Performance

Shares of INSM traded up $0.88 during midday trading on Friday, reaching $73.62. The stock had a trading volume of 1,558,246 shares, compared to its average volume of 2,072,473. Insmed Incorporated has a 52 week low of $55.74 and a 52 week high of $84.91. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The firm's 50 day moving average price is $69.28 and its 200-day moving average price is $73.03. The company has a market capitalization of $13.41 billion, a P/E ratio of -13.17 and a beta of 0.80.

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

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.