Edgestream Partners L.P. Buys 40,369 Shares of Insmed Incorporated (NASDAQ:INSM)

Edgestream Partners L.P. raised its stake in Insmed Incorporated (NASDAQ:INSM) by 1,242.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 43,619 shares of the biopharmaceutical company’s stock after acquiring an additional 40,369 shares during the quarter. Edgestream Partners L.P.’s holdings in Insmed were worth $3,011,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of INSM. Steward Partners Investment Advisory LLC grew its position 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 acquiring an additional 163 shares during the period. V Square Quantitative Management LLC grew its position in Insmed by 60.3% in the fourth quarter. V Square Quantitative Management LLC now owns 659 shares of the biopharmaceutical company’s stock valued at $45,000 after acquiring an additional 248 shares during the period. Spire Wealth Management bought a new stake in Insmed in the fourth quarter valued at $47,000. Smartleaf Asset Management LLC grew its holdings in shares of Insmed by 98.1% during the fourth quarter. Smartleaf Asset Management LLC now owns 830 shares of the biopharmaceutical company’s stock worth $57,000 after purchasing an additional 411 shares during the last quarter. Finally, Venturi Wealth Management LLC bought a new stake in shares of Insmed during the fourth quarter worth $86,000.

Analyst Ratings Changes

Several brokerages have recently commented on INSM. HC Wainwright restated a “buy” rating and set a $90.00 target price on shares of Insmed in a report on Friday, February 21st. Guggenheim restated a “buy” rating and set a $101.00 target price on shares of Insmed in a report on Tuesday, February 25th. Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a report on Wednesday, February 19th. JPMorgan Chase & Co. increased their target price on Insmed from $83.00 to $92.00 and gave the stock an “overweight” rating in a report on Friday, February 7th. Finally, Truist Financial increased their target price on Insmed from $105.00 to $108.00 and gave the stock a “buy” rating in a report on Friday, February 21st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $93.33.

Insmed Stock Down 0.2 %

NASDAQ:INSM opened at $74.89 on Monday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The company has a market cap of $13.56 billion, a PE ratio of -13.40 and a beta of 1.28. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $84.91. The stock has a 50-day simple moving average of $75.66 and a 200 day simple moving average of $73.79.

Insmed (NASDAQ:INSM) last posted 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 company had revenue of $104.44 million during the quarter, compared to the consensus estimate of $102.31 million. Insmed had a negative net margin of 251.24% and a negative return on equity of 4,773.73%. On average, sell-side analysts expect that Insmed Incorporated will post -4.56 EPS for the current fiscal year.

Insider Activity

In related news, CEO William Lewis sold 18,750 shares of Insmed stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $69.84, for a total transaction of $1,309,500.00. Following the completion of the sale, the chief executive officer now directly owns 384,960 shares of the company’s stock, valued at approximately $26,885,606.40. This trade represents a 4.64 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 91,140 shares of Insmed stock in a transaction that occurred on Thursday, January 30th. The stock was 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 of the company’s stock, valued at approximately $7,766,640. The trade was a 48.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 550,957 shares of company stock valued at $42,859,028 over the last three months. 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.