Knights of Columbus Asset Advisors LLC Boosts Holdings in Insmed Incorporated (NASDAQ:INSM)

Knights of Columbus Asset Advisors LLC increased its stake in Insmed Incorporated (NASDAQ:INSM - Free Report) by 101.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 228,783 shares of the biopharmaceutical company's stock after acquiring an additional 114,987 shares during the period. Knights of Columbus Asset Advisors LLC owned approximately 0.16% of Insmed worth $7,090,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in INSM. Norges Bank purchased a new position in Insmed in the fourth quarter worth about $26,850,000. Vanguard Group Inc. lifted its stake in Insmed by 7.7% in the third quarter. Vanguard Group Inc. now owns 14,345,512 shares of the biopharmaceutical company's stock worth $362,224,000 after purchasing an additional 1,024,956 shares during the last quarter. RTW Investments LP lifted its stake in Insmed by 86.5% in the third quarter. RTW Investments LP now owns 1,865,108 shares of the biopharmaceutical company's stock worth $47,094,000 after purchasing an additional 865,108 shares during the last quarter. Loomis Sayles & Co. L P lifted its stake in Insmed by 47.7% in the third quarter. Loomis Sayles & Co. L P now owns 2,383,039 shares of the biopharmaceutical company's stock worth $60,172,000 after purchasing an additional 769,443 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. bought a new stake in Insmed in the third quarter worth about $15,150,000.

Wall Street Analysts Forecast Growth

INSM has been the subject of several analyst reports. UBS Group initiated coverage on shares of Insmed in a research note on Tuesday, February 27th. They issued a "buy" rating and a $46.00 price objective for the company. Wells Fargo & Company reaffirmed an "overweight" rating and set a $55.00 price target on shares of Insmed in a research note on Monday, April 1st. StockNews.com raised shares of Insmed from a "sell" rating to a "hold" rating in a research note on Wednesday, February 28th. Guggenheim lifted their price target on shares of Insmed from $52.00 to $54.00 and gave the company a "buy" rating in a research note on Tuesday, February 27th. Finally, Wolfe Research assumed coverage on shares of Insmed in a research note on Thursday, February 15th. They set an "outperform" rating and a $42.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $44.64.

Insmed Price Performance

NASDAQ INSM traded down $0.48 on Friday, hitting $24.32. The stock had a trading volume of 5,533,974 shares, compared to its average volume of 1,743,245. The business's fifty day moving average price is $27.45 and its 200 day moving average price is $27.02. Insmed Incorporated has a 52-week low of $17.41 and a 52-week high of $32.00. The stock has a market cap of $3.61 billion, a price-to-earnings ratio of -4.55 and a beta of 0.92.

Insmed (NASDAQ:INSM - Get Free Report) last announced its quarterly earnings data on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share for the quarter, missing analysts' consensus estimates of ($1.13) by ($0.15). The firm had revenue of $83.70 million for the quarter, compared to analysts' expectations of $82.15 million. Insmed's revenue was up 41.1% on a year-over-year basis. During the same quarter in the previous year, the business earned ($1.20) earnings per share. As a group, sell-side analysts anticipate that Insmed Incorporated will post -4.65 EPS for the current year.

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.