The Manufacturers Life Insurance Company Acquires 5,062 Shares of Insmed Incorporated (NASDAQ:INSM)

The Manufacturers Life Insurance Company increased its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 1.8% during the 3rd quarter, HoldingsChannel reports. The firm owned 288,073 shares of the biopharmaceutical company’s stock after purchasing an additional 5,062 shares during the period. The Manufacturers Life Insurance Company’s holdings in Insmed were worth $21,029,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. V Square Quantitative Management LLC acquired a new stake in Insmed during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC raised its holdings in shares of Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after acquiring an additional 224 shares during the period. First Horizon Advisors Inc. raised its holdings in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after acquiring an additional 287 shares during the period. Exchange Traded Concepts LLC lifted its position in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares in the last quarter. Finally, CWM LLC boosted its stake in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares during the period.

Insider Buying and Selling

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. This trade represents a 27.29 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 78,882 shares of company stock valued at $5,765,446. Company insiders own 4.60% of the company’s stock.

Insmed Price Performance

NASDAQ:INSM opened at $75.16 on Friday. Insmed Incorporated has a 12-month low of $21.92 and a 12-month high of $80.53. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -13.54 and a beta of 1.12. The stock’s 50 day moving average price is $72.20 and its two-hundred day moving average price is $68.04. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period last year, the company earned ($1.10) earnings per share. Insmed’s revenue was up 18.1% on a year-over-year basis. On average, analysts anticipate that Insmed Incorporated will post -5.44 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on INSM. StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. Bank of America upped their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised their price target on shares of Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $83.67.

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.