Park Avenue Securities LLC Purchases 3,081 Shares of Insmed Incorporated (NASDAQ:INSM)

Park Avenue Securities LLC raised its position in Insmed Incorporated (NASDAQ:INSM - Free Report) by 38.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 11,036 shares of the biopharmaceutical company's stock after acquiring an additional 3,081 shares during the period. Park Avenue Securities LLC's holdings in Insmed were worth $842,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in INSM. Mirae Asset Global Investments Co. Ltd. grew its stake in Insmed by 3.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company's stock valued at $446,000 after acquiring an additional 186 shares during the period. Allspring Global Investments Holdings LLC grew its stake in Insmed by 8.4% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 423,094 shares of the biopharmaceutical company's stock valued at $29,590,000 after acquiring an additional 32,960 shares during the period. Values First Advisors Inc. grew its stake in Insmed by 4.4% in the fourth quarter. Values First Advisors Inc. now owns 5,199 shares of the biopharmaceutical company's stock valued at $359,000 after acquiring an additional 221 shares during the period. V Square Quantitative Management LLC grew its stake in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company's stock valued at $45,000 after acquiring an additional 248 shares during the period. Finally, Rhumbline Advisers grew its stake in Insmed by 9.6% in the fourth quarter. Rhumbline Advisers now owns 288,337 shares of the biopharmaceutical company's stock valued at $19,907,000 after acquiring an additional 25,292 shares during the period.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial lifted their target price on Insmed from $105.00 to $108.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Jefferies Financial Group restated a "buy" rating on shares of Insmed in a research note on Tuesday, June 10th. Stifel Nicolaus lowered their target price on Insmed from $97.00 to $96.00 and set a "buy" rating on the stock in a research note on Friday, February 21st. HC Wainwright boosted their price target on shares of Insmed from $90.00 to $120.00 and gave the stock a "buy" rating in a report on Wednesday, June 11th. Finally, Mizuho increased their price target on shares of Insmed from $96.00 to $110.00 and gave the company an "outperform" rating in a research report on Wednesday, June 11th. One research analyst has rated the stock with a sell rating and eighteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, Insmed currently has a consensus rating of "Moderate Buy" and an average price target of $104.81.

Insmed Price Performance

Shares of Insmed stock traded up $2.86 on Monday, reaching $101.59. The stock had a trading volume of 4,385,435 shares, compared to its average volume of 2,173,541. The business's 50 day moving average is $72.14 and its two-hundred day moving average is $73.78. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 1 year low of $60.40 and a 1 year high of $102.97. The company has a market cap of $18.50 billion, a P/E ratio of -18.17 and a beta of 0.80.

Insmed (NASDAQ:INSM - Get Free Report) last released its quarterly earnings results on Thursday, May 8th. The biopharmaceutical company reported ($1.42) EPS for the quarter, missing analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $91.63 million. During the same quarter last year, the firm earned ($1.06) earnings per share. The firm's revenue for the quarter was up 22.9% on a year-over-year basis. As a group, research analysts anticipate that Insmed Incorporated will post -4.56 EPS for the current year.

Insider Buying and Selling

In related news, insider Michael Alexander Smith sold 409 shares of the stock in a transaction on Wednesday, May 14th. The stock was sold at an average price of $65.61, for a total value of $26,834.49. Following the transaction, the insider now owns 91,794 shares of the company's stock, valued at $6,022,604.34. This represents a 0.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William Lewis sold 6,830 shares of the stock in a transaction on Thursday, May 1st. The shares were sold at an average price of $72.57, for a total value of $495,653.10. Following the completion of the transaction, the chief executive officer now directly owns 233,924 shares in the company, valued at approximately $16,975,864.68. This represents a 2.84% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 301,182 shares of company stock worth $24,289,380. Corporate insiders own 3.00% of the company's stock.

Insmed Company 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.