4,069 Shares in Insmed Incorporated (NASDAQ:INSM) Purchased by Aigen Investment Management LP

Aigen Investment Management LP purchased a new stake in shares of Insmed Incorporated (NASDAQ:INSM) in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 4,069 shares of the biopharmaceutical company’s stock, valued at approximately $297,000.

Several other institutional investors and hedge funds have also bought and sold shares of INSM. GSA Capital Partners LLP purchased a new stake in Insmed in the third quarter worth $376,000. WCM Investment Management LLC lifted its position in shares of Insmed by 58.6% in the 3rd quarter. WCM Investment Management LLC now owns 148,330 shares of the biopharmaceutical company’s stock worth $10,751,000 after purchasing an additional 54,806 shares during the period. Los Angeles Capital Management LLC boosted its stake in shares of Insmed by 164.8% during the 3rd quarter. Los Angeles Capital Management LLC now owns 10,179 shares of the biopharmaceutical company’s stock valued at $743,000 after purchasing an additional 6,335 shares in the last quarter. State of New Jersey Common Pension Fund D increased its position in shares of Insmed by 5.2% during the third quarter. State of New Jersey Common Pension Fund D now owns 59,623 shares of the biopharmaceutical company’s stock valued at $4,352,000 after buying an additional 2,962 shares during the period. Finally, TimesSquare Capital Management LLC bought a new position in Insmed in the third quarter worth about $35,322,000.

Analyst Upgrades and Downgrades

Several research firms have weighed in on INSM. Truist Financial reaffirmed a “buy” rating and set a $105.00 price objective (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. TD Cowen upped their price target on Insmed from $75.00 to $98.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Stifel Nicolaus upped their target price on shares of Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, UBS Group increased their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $83.07.

Insider Buying and Selling

In other news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now owns 67,856 shares in the company, valued at $5,045,093.60. This represents a 29.12 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction that occurred 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 transaction, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 78,882 shares of company stock worth $5,765,446. 4.60% of the stock is owned by insiders.

Insmed Stock Down 7.0 %

INSM stock opened at $66.29 on Friday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The stock has a market capitalization of $11.86 billion, a P/E ratio of -11.94 and a beta of 1.12. The business has a fifty day moving average price of $72.23 and a 200-day moving average price of $64.13.

Insmed (NASDAQ:INSM) last posted its earnings results 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 for the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the prior year, the company earned ($1.10) EPS. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current fiscal 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.