Financial Advocates Investment Management Takes Position in Insmed Incorporated (NASDAQ:INSM)

Financial Advocates Investment Management bought a new stake in shares of Insmed Incorporated (NASDAQ:INSM) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 4,846 shares of the biopharmaceutical company’s stock, valued at approximately $335,000.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CIBC Asset Management Inc raised its holdings in shares of Insmed by 3.5% during the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 149 shares during the last quarter. Abel Hall LLC increased its position in shares of Insmed by 4.7% during the fourth quarter. Abel Hall LLC now owns 3,333 shares of the biopharmaceutical company’s stock worth $230,000 after purchasing an additional 151 shares in the last quarter. Commerce Bank raised its stake in Insmed by 2.4% in the 3rd 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 last quarter. Nisa Investment Advisors LLC lifted its holdings in Insmed by 5.5% in the 4th quarter. Nisa Investment Advisors LLC now owns 3,533 shares of the biopharmaceutical company’s stock valued at $244,000 after purchasing an additional 183 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. boosted its stake in Insmed by 3.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,401 shares of the biopharmaceutical company’s stock worth $446,000 after purchasing an additional 186 shares during the last quarter.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on INSM shares. Morgan Stanley increased their target price on shares of Insmed from $85.00 to $90.00 and gave the company an “overweight” rating in a research report on Thursday. Truist Financial reiterated a “buy” rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. increased their price target on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a report on Friday. Finally, Guggenheim boosted their price objective on Insmed from $95.00 to $101.00 and gave the stock a “buy” rating in a research note on Friday. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to MarketBeat, Insmed currently has a consensus rating of “Moderate Buy” and an average target price of $85.00.

Insider Buying and Selling

In other news, insider Martina M.D. Flammer sold 3,344 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $65.91, for a total transaction of $220,403.04. Following the completion of the transaction, the insider now directly owns 102,766 shares in the company, valued at $6,773,307.06. This trade represents a 3.15 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of the business’s stock in a transaction 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 completion of the sale, the insider now owns 97,083 shares in the company, valued at $7,766,640. This represents a 48.42 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 401,030 shares of company stock valued at $30,993,629. Company insiders own 4.60% of the company’s stock.

Insmed Price Performance

Shares of INSM opened at $79.95 on Monday. The firm has a 50-day simple moving average of $72.88 and a two-hundred day simple moving average of $73.09. The stock has a market cap of $14.30 billion, a PE ratio of -14.41 and a beta of 1.11. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $82.04. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99.

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.