Harbor Capital Advisors Inc. Increases Stake in Insmed Incorporated (NASDAQ:INSM)

Harbor Capital Advisors Inc. boosted its stake in Insmed Incorporated (NASDAQ:INSM) by 237.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 59,600 shares of the biopharmaceutical company’s stock after buying an additional 41,918 shares during the period. Harbor Capital Advisors Inc.’s holdings in Insmed were worth $4,115,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Victory Capital Management Inc. boosted its position in shares of Insmed by 672.7% during the second quarter. Victory Capital Management Inc. now owns 147,140 shares of the biopharmaceutical company’s stock valued at $9,858,000 after purchasing an additional 128,098 shares in the last quarter. Private Advisor Group LLC purchased a new position in Insmed during the second quarter valued at $575,000. Los Angeles Capital Management LLC bought a new stake in shares of Insmed during the 2nd quarter valued at $258,000. ClariVest Asset Management LLC purchased a new stake in shares of Insmed in the 2nd quarter worth about $738,000. Finally, American Century Companies Inc. increased its stake in shares of Insmed by 7.5% in the 2nd quarter. American Century Companies Inc. now owns 755,271 shares of the biopharmaceutical company’s stock worth $50,603,000 after acquiring an additional 52,647 shares in the last quarter.

Wall Street Analyst Weigh In

Several research firms recently commented on INSM. Truist Financial reissued a “buy” rating and set a $105.00 price objective (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. upped their price target on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research note on Friday, November 22nd. Bank of America lifted their price objective on Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insider Buying and Selling

In other Insmed news, CEO William Lewis sold 18,750 shares of the company’s stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $69.91, for a total value of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at $26,912,553.60. This represents a 4.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Roger Adsett sold 4,902 shares of Insmed stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.68, for a total transaction of $312,159.36. Following the sale, the chief operating officer now owns 147,539 shares in the company, valued at approximately $9,395,283.52. The trade was a 3.22 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 70,094 shares of company stock valued at $4,733,986. 4.60% of the stock is owned by corporate insiders.

Insmed Trading Down 0.7 %

Shares of NASDAQ:INSM opened at $65.25 on Friday. The stock’s 50-day simple moving average is $71.23 and its two-hundred day simple moving average is $72.42. The stock has a market capitalization of $11.67 billion, a price-to-earnings ratio of -11.76 and a beta of 1.12. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

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 analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to the consensus estimate of $93.36 million. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.10) earnings per share. Analysts expect that Insmed Incorporated will post -5.44 EPS for the current year.

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.