Harbor Capital Advisors Inc. Raises Position in Insmed Incorporated (NASDAQ:INSM)

Harbor Capital Advisors Inc. grew its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 22.2% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 72,816 shares of the biopharmaceutical company's stock after purchasing an additional 13,216 shares during the quarter. Harbor Capital Advisors Inc.'s holdings in Insmed were worth $5,555,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of INSM. Darwin Global Management Ltd. raised its stake in shares of Insmed by 23.5% during the 4th quarter. Darwin Global Management Ltd. now owns 12,960,538 shares of the biopharmaceutical company's stock worth $894,796,000 after purchasing an additional 2,463,261 shares in the last quarter. Norges Bank bought a new position in shares of Insmed in the 4th quarter worth $126,606,000. Vanguard Group Inc. boosted its holdings in Insmed by 6.3% during the 4th quarter. Vanguard Group Inc. now owns 18,218,973 shares of the biopharmaceutical company's stock worth $1,257,838,000 after acquiring an additional 1,075,796 shares during the last quarter. Brown Advisory Inc. bought a new stake in shares of Insmed during the 4th quarter worth $45,773,000. Finally, Adage Capital Partners GP L.L.C. grew its holdings in Insmed by 59.6% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 1,647,562 shares of the biopharmaceutical company's stock valued at $113,748,000 after purchasing an additional 615,000 shares during the period.

Insider Buying and Selling at Insmed

In other Insmed news, CEO William Lewis sold 6,830 shares of the firm's stock in a transaction that occurred on Tuesday, April 15th. The shares were sold at an average price of $70.16, for a total transaction of $479,192.80. Following the completion of the transaction, the chief executive officer now owns 233,924 shares in the company, valued at approximately $16,412,107.84. This trade represents a 2.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the business's stock in a transaction on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the transaction, the insider now owns 89,407 shares in the company, valued at approximately $8,352,401.94. The trade was a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 319,932 shares of company stock valued at $25,733,693 in the last three months. 3.00% of the stock is currently owned by company insiders.

Insmed Trading Up 1.9%

Shares of Insmed stock traded up $1.85 during trading on Friday, hitting $98.73. 5,318,455 shares of the company were exchanged, compared to its average volume of 2,164,284. The firm's fifty day moving average price is $71.41 and its 200 day moving average price is $73.61. Insmed Incorporated has a 1-year low of $60.40 and a 1-year high of $100.00. The firm has a market capitalization of $17.98 billion, a P/E ratio of -17.66 and a beta of 0.80. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results 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 251.24% and a negative return on equity of 4,773.73%. The firm had revenue of $92.82 million during the quarter, compared to analyst estimates of $91.63 million. During the same period in the prior year, the business earned ($1.06) EPS. The business's revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, sell-side analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on INSM shares. Citigroup raised shares of Insmed to a "buy" rating in a report on Tuesday. Wells Fargo & Company lifted their price objective on Insmed from $107.00 to $119.00 and gave the stock an "overweight" rating in a report on Wednesday. UBS Group lowered their price objective on Insmed from $110.00 to $109.00 and set a "buy" rating on the stock in a research report on Friday, May 9th. HC Wainwright boosted their target price on Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a research report on Wednesday. Finally, Leerink Partners boosted their price objective on Insmed from $100.00 to $115.00 and gave the company an "outperform" rating in a report on Tuesday. One research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $104.81.

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.