HighPoint Advisor Group LLC Takes $248,000 Position in Insmed Incorporated (NASDAQ:INSM)

HighPoint Advisor Group LLC purchased a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,596 shares of the biopharmaceutical company’s stock, valued at approximately $248,000.

A number of other institutional investors have also added to or reduced their stakes in INSM. Quantbot Technologies LP purchased a new position in shares of Insmed in the 3rd quarter worth approximately $133,000. Captrust Financial Advisors boosted its position in Insmed by 40.9% in the third quarter. Captrust Financial Advisors now owns 6,280 shares of the biopharmaceutical company’s stock worth $458,000 after purchasing an additional 1,824 shares during the last quarter. Polar Asset Management Partners Inc. grew its stake in Insmed by 217.7% in the 3rd quarter. Polar Asset Management Partners Inc. now owns 57,500 shares of the biopharmaceutical company’s stock valued at $4,198,000 after purchasing an additional 39,400 shares during the period. Soros Fund Management LLC increased its position in shares of Insmed by 1.7% during the 3rd quarter. Soros Fund Management LLC now owns 478,601 shares of the biopharmaceutical company’s stock valued at $34,938,000 after purchasing an additional 7,901 shares during the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of Insmed by 32.9% during the 3rd quarter. Two Sigma Advisers LP now owns 392,700 shares of the biopharmaceutical company’s stock worth $28,667,000 after purchasing an additional 97,300 shares during the period.

Analysts Set New Price Targets

Several equities analysts recently weighed in on INSM shares. Stifel Nicolaus reduced their price target on shares of Insmed from $97.00 to $96.00 and set a “buy” rating for the company in a research report on Friday, February 21st. Bank of America raised their price target on shares of Insmed from $92.00 to $96.00 and gave the stock a “buy” rating in a research note on Thursday, March 20th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research note on Friday, February 21st. Guggenheim reissued a “buy” rating and set a $101.00 price objective on shares of Insmed in a report on Tuesday, February 25th. Finally, Truist Financial boosted their target price on Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. Based on data from MarketBeat, Insmed has a consensus rating of “Moderate Buy” and a consensus target price of $94.00.

Insmed Price Performance

INSM stock opened at $73.33 on Friday. The firm has a 50 day moving average of $77.97 and a 200-day moving average of $73.99. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The firm has a market capitalization of $13.27 billion, a P/E ratio of -13.12 and a beta of 1.28. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $84.91.

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

Insider Buying and Selling

In other news, CEO William Lewis sold 18,750 shares of the business’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $81.03, for a total transaction of $1,519,312.50. Following the completion of the transaction, the chief executive officer now owns 334,186 shares of the company’s stock, valued at approximately $27,079,091.58. The trade was a 5.31 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 6,172 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.64, for a total transaction of $392,786.08. Following the completion of the sale, the insider now directly owns 101,549 shares in the company, valued at $6,462,578.36. This represents a 5.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 532,207 shares of company stock worth $41,683,028 over the last ninety days. 4.60% of the stock is owned by corporate insiders.

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.