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

The Manufacturers Life Insurance Company raised its stake in Insmed Incorporated (NASDAQ:INSM) by 1.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). 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 owned approximately 0.16% of Insmed worth $21,029,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of the stock. Nisa Investment Advisors LLC lifted its stake in shares of Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 135 shares during the period. CIBC Asset Management Inc lifted its position in shares of Insmed by 3.5% in the 3rd quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock worth $324,000 after acquiring an additional 149 shares during the period. CWM LLC grew its holdings in shares of Insmed by 11.0% during 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 in the last quarter. Commerce Bank increased its position in shares of Insmed by 2.4% during the third quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock valued at $499,000 after purchasing an additional 163 shares during the period. Finally, GAMMA Investing LLC raised its stake in shares of Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares in the last quarter.

Insmed Price Performance

Shares of INSM stock opened at $75.16 on Friday. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53. 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’s 50 day moving average is $72.20 and its 200-day moving average is $68.04. The firm has a market capitalization of $13.45 billion, a price-to-earnings ratio of -13.54 and a beta of 1.12.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data 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 analysts’ expectations of $93.36 million. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company posted ($1.10) earnings per share. Sell-side analysts forecast that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on INSM. HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. TD Cowen increased their price target on shares of Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. lifted their price objective on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a report on Friday, November 22nd. Truist Financial reissued a “buy” rating and issued a $105.00 target price (up from $100.00) on shares of Insmed in a report on Friday, November 1st. Finally, Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insider Activity at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction 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 $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, 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 sale, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 over the last 90 days. Insiders own 4.60% of the company’s stock.

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.