Kennedy Capital Management LLC Raises Stock Position in Insmed Incorporated (NASDAQ:INSM)

Kennedy Capital Management LLC grew its stake in Insmed Incorporated (NASDAQ:INSM) by 197.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 36,058 shares of the biopharmaceutical company’s stock after buying an additional 23,940 shares during the period. Kennedy Capital Management LLC’s holdings in Insmed were worth $2,489,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. National Bank of Canada FI boosted its stake in Insmed by 9.7% in the fourth quarter. National Bank of Canada FI now owns 1,668 shares of the biopharmaceutical company’s stock valued at $115,000 after acquiring an additional 147 shares in the last quarter. Abel Hall LLC boosted its position in shares of Insmed by 4.7% in the 4th quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock valued at $230,000 after purchasing an additional 151 shares during the period. Steward Partners Investment Advisory LLC lifted its stake in Insmed by 65.2% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 413 shares of the biopharmaceutical company’s stock valued at $29,000 after buying an additional 163 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of Insmed by 5.6% in the fourth quarter. M&T Bank Corp now owns 3,146 shares of the biopharmaceutical company’s stock valued at $217,000 after acquiring an additional 166 shares during the period. Finally, Nisa Investment Advisors LLC boosted its holdings in shares of Insmed by 5.5% in the fourth quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after acquiring an additional 183 shares during the period.

Insider Activity

In other news, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the stock in a transaction that occurred on Thursday, January 30th. The shares were sold at an average price of $80.00, for a total value of $7,291,200.00. Following the sale, the insider now directly owns 97,083 shares in the company, valued at $7,766,640. This represents a 48.42 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Roger Adsett sold 1,457 shares of Insmed stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $68.72, for a total value of $100,125.04. Following the transaction, the chief operating officer now owns 146,082 shares of the company’s stock, valued at $10,038,755.04. This represents a 0.99 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 499,613 shares of company stock worth $39,569,355 over the last 90 days. 4.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research report on Friday, February 7th. Truist Financial increased their target price on shares of Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Morgan Stanley boosted their price target on Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday, February 6th. Guggenheim reaffirmed a “buy” rating and set a $101.00 price objective on shares of Insmed in a research report on Tuesday, February 25th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $100.00 target price on shares of Insmed in a report on Wednesday, March 19th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $94.00.

Insmed Stock Up 5.8 %

INSM stock opened at $68.57 on Monday. 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 company’s 50-day moving average price is $76.20 and its 200 day moving average price is $73.65. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $84.91. The company has a market cap of $12.47 billion, a P/E ratio of -12.27 and a beta of 1.07.

Insmed (NASDAQ:INSM) last released its quarterly 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). The firm had revenue of $104.44 million during the quarter, compared to analyst estimates of $102.31 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. On average, research analysts expect that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

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.