Victory Capital Management Inc. Purchases 308,819 Shares of Insmed Incorporated (NASDAQ:INSM)

Victory Capital Management Inc. raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 209.9% in the third quarter, Holdings Channel reports. The firm owned 455,959 shares of the biopharmaceutical company’s stock after acquiring an additional 308,819 shares during the quarter. Victory Capital Management Inc.’s holdings in Insmed were worth $33,285,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. SG Americas Securities LLC increased its position in shares of Insmed by 123.1% during the first quarter. SG Americas Securities LLC now owns 8,508 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 4,695 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in shares of Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock worth $600,000 after purchasing an additional 21,963 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Insmed by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 35,241 shares of the biopharmaceutical company’s stock worth $956,000 after purchasing an additional 3,218 shares in the last quarter. State Board of Administration of Florida Retirement System raised its stake in shares of Insmed by 1.6% in the first quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock worth $1,037,000 after purchasing an additional 610 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after purchasing an additional 383,714 shares in the last quarter.

Insiders Place Their Bets

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the sale, the insider now directly owns 106,134 shares of the company’s stock, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now directly owns 67,856 shares in the company, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 78,882 shares of company stock worth $5,765,446. Corporate insiders own 4.60% of the company’s stock.

Insmed Stock Down 7.0 %

INSM stock opened at $66.29 on Friday. The business’s 50-day moving average price is $72.13 and its 200-day moving average price is $64.42. The stock has a market cap of $11.86 billion, a P/E ratio of -11.94 and a beta of 1.12. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. 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 posted its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm posted ($1.10) EPS. On average, equities research analysts forecast that Insmed Incorporated will post -5.42 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Bank of America boosted their target price on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. UBS Group increased their price objective on shares of Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. TD Cowen raised their target price on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Truist Financial reissued a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Stifel Nicolaus lifted their price objective on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.07.

Insmed Company 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.