Renaissance Technologies LLC Acquires New Stake in Insmed Incorporated (NASDAQ:INSM)

Renaissance Technologies LLC bought a new position in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 25,287 shares of the biopharmaceutical company's stock, valued at approximately $1,746,000.

Other institutional investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC bought a new position in shares of Insmed in the third quarter worth $248,000. Tidal Investments LLC grew its stake in Insmed by 447.0% in the 3rd quarter. Tidal Investments LLC now owns 24,102 shares of the biopharmaceutical company's stock worth $1,759,000 after buying an additional 19,696 shares in the last quarter. Principal Financial Group Inc. increased its holdings in shares of Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company's stock worth $136,648,000 after buying an additional 214,130 shares during the last quarter. Everence Capital Management Inc. purchased a new stake in shares of Insmed during the 4th quarter valued at $352,000. Finally, Harbor Capital Advisors Inc. lifted its holdings in shares of Insmed by 237.1% during the 4th quarter. Harbor Capital Advisors Inc. now owns 59,600 shares of the biopharmaceutical company's stock worth $4,115,000 after acquiring an additional 41,918 shares during the last quarter.

Analyst Upgrades and Downgrades

A number of research firms recently commented on INSM. Stifel Nicolaus reduced 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. Bank of America raised their price objective on Insmed from $92.00 to $96.00 and gave the company a "buy" rating in a report on Thursday, March 20th. Morgan Stanley upped their target price on Insmed from $85.00 to $90.00 and gave the stock an "overweight" rating in a research note on Thursday, February 6th. Royal Bank of Canada restated an "outperform" rating and issued a $100.00 price objective on shares of Insmed in a report on Wednesday, March 19th. Finally, Guggenheim reaffirmed a "buy" rating and set a $101.00 target price on shares of Insmed in a report on Tuesday, February 25th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Insmed presently has a consensus rating of "Moderate Buy" and an average target price of $94.00.

Insmed Trading Up 1.4 %

Shares of Insmed stock traded up $0.98 during midday trading on Thursday, reaching $72.98. 1,037,247 shares of the company's stock traded hands, compared to its average volume of 2,303,847. The company has a market cap of $13.27 billion, a PE ratio of -13.05 and a beta of 1.07. The stock has a 50 day moving average of $73.67 and a 200-day moving average of $73.51. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Insmed (NASDAQ:INSM - Get Free Report) last announced its earnings results on Thursday, February 20th. The biopharmaceutical company reported ($1.32) earnings per share for the quarter, missing analysts' consensus estimates of ($1.17) by ($0.15). Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. The company had revenue of $104.44 million for the quarter, compared to the consensus estimate of $102.31 million. As a group, equities analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William Lewis sold 18,750 shares of the company's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total value of $1,519,312.50. Following the sale, the chief executive officer now directly owns 334,186 shares of the company's stock, valued at $27,079,091.58. This represents a 5.31 % 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, COO Roger Adsett sold 45,605 shares of the stock in a transaction on Thursday, February 6th. The stock was sold at an average price of $80.90, for a total value of $3,689,444.50. Following the completion of the transaction, the chief operating officer now owns 189,157 shares of the company's stock, valued at approximately $15,302,801.30. This trade represents a 19.43 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 380,657 shares of company stock worth $30,330,039. Company insiders own 3.00% of the company's stock.

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.