abrdn plc Purchases Shares of 100,000 Insmed Incorporated (NASDAQ:INSM)

abrdn plc bought a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 100,000 shares of the biopharmaceutical company's stock, valued at approximately $3,099,000. abrdn plc owned 0.07% of Insmed at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of the company. Knights of Columbus Asset Advisors LLC raised its stake in Insmed by 101.0% during the fourth quarter. Knights of Columbus Asset Advisors LLC now owns 228,783 shares of the biopharmaceutical company's stock worth $7,090,000 after purchasing an additional 114,987 shares during the period. Xponance Inc. purchased a new position in Insmed during the fourth quarter worth about $259,000. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Insmed by 7.3% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 30,772 shares of the biopharmaceutical company's stock valued at $954,000 after acquiring an additional 2,095 shares during the last quarter. WCM Investment Management LLC increased its position in shares of Insmed by 1.9% during the fourth quarter. WCM Investment Management LLC now owns 295,328 shares of the biopharmaceutical company's stock valued at $9,374,000 after acquiring an additional 5,592 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in shares of Insmed by 9.1% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 76,904 shares of the biopharmaceutical company's stock valued at $2,383,000 after acquiring an additional 6,383 shares during the last quarter.

Analysts Set New Price Targets

INSM has been the subject of a number of recent analyst reports. UBS Group initiated coverage on shares of Insmed in a research report on Tuesday, February 27th. They set a "buy" rating and a $46.00 price target for the company. 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 report on Tuesday, February 27th. Wells Fargo & Company reiterated an "overweight" rating and set a $55.00 price target on shares of Insmed in a research report on Monday, April 1st. StockNews.com upgraded shares of Insmed from a "sell" rating to a "hold" rating in a research report on Wednesday, February 28th. Finally, Truist Financial began coverage on shares of Insmed in a report on Tuesday, April 23rd. They issued a "buy" rating and a $48.00 price objective for the company. One analyst has rated the stock with a hold rating and twelve have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $44.92.

Insmed Price Performance

Shares of Insmed stock traded up $0.20 during trading hours on Monday, hitting $25.00. The company had a trading volume of 1,428,317 shares, compared to its average volume of 1,763,039. The company's 50-day moving average is $26.98 and its two-hundred day moving average is $27.06. Insmed Incorporated has a twelve month low of $18.08 and a twelve month high of $32.00. The company has a market cap of $3.71 billion, a P/E ratio of -4.68 and a beta of 0.92.

Insmed (NASDAQ:INSM - Get Free Report) last issued its earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The firm had revenue of $83.70 million for the quarter, compared to analyst estimates of $82.15 million. During the same period last year, the firm posted ($1.20) EPS. The company's quarterly revenue was up 41.1% on a year-over-year basis. Sell-side analysts expect that Insmed Incorporated will post -4.65 EPS for the current 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.