Erste Asset Management GmbH Invests $3.45 Million in Insmed Incorporated (NASDAQ:INSM)

Erste Asset Management GmbH acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 47,600 shares of the biopharmaceutical company’s stock, valued at approximately $3,450,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INSM. Darwin Global Management Ltd. acquired a new position in shares of Insmed in the second quarter worth $237,076,000. Principal Financial Group Inc. raised its stake in Insmed by 12.9% in the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock valued at $136,648,000 after purchasing an additional 214,130 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after purchasing an additional 714,539 shares in the last quarter. Vestal Point Capital LP boosted its stake in shares of Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Insmed by 10.5% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock worth $105,431,000 after purchasing an additional 137,670 shares during the last quarter.

Analyst Upgrades and Downgrades

INSM has been the topic of several recent analyst reports. Bank of America upped their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. TD Cowen upped their target price on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research note on Friday, August 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. Finally, StockNews.com downgraded shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, Insmed has a consensus rating of “Moderate Buy” and an average target price of $83.67.

Insmed Stock Down 3.6 %

Shares of Insmed stock opened at $72.42 on Tuesday. The company has a fifty day moving average price of $72.21 and a 200 day moving average price of $68.68. 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 twelve month low of $21.92 and a twelve month high of $80.53. The stock has a market cap of $12.96 billion, a price-to-earnings ratio of -13.05 and a beta of 1.12.

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

Insider Buying and Selling at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This represents a 11.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 over the last 90 days. 4.60% of the stock is owned by corporate insiders.

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.