Diversified Trust Co Buys 1,078 Shares of Insmed Incorporated (NASDAQ:INSM)

Diversified Trust Co increased its position in shares of Insmed Incorporated (NASDAQ:INSM) by 5.2% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,684 shares of the biopharmaceutical company’s stock after buying an additional 1,078 shares during the quarter. Diversified Trust Co’s holdings in Insmed were worth $588,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Rafferty Asset Management LLC grew its holdings in shares of Insmed by 17.4% during the 4th quarter. Rafferty Asset Management LLC now owns 321,087 shares of the biopharmaceutical company’s stock worth $9,950,000 after purchasing an additional 47,563 shares in the last quarter. Kingdon Capital Management L.L.C. acquired a new position in shares of Insmed in the 4th quarter worth approximately $12,551,000. Artia Global Partners LP bought a new position in shares of Insmed during the 4th quarter worth approximately $2,322,000. Norges Bank bought a new position in shares of Insmed during the 4th quarter worth approximately $45,029,000. Finally, Walleye Capital LLC acquired a new stake in Insmed in the 3rd quarter valued at $1,820,000.

Insider Buying and Selling at Insmed

In other news, insider John Drayton Wise sold 5,088 shares of the company’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $25.47, for a total value of $129,591.36. Following the sale, the insider now directly owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, insider John Drayton Wise sold 5,088 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.47, for a total transaction of $129,591.36. Following the transaction, the insider now directly owns 123,259 shares of the company’s stock, valued at approximately $3,139,406.73. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $55.00, for a total value of $1,165,725.00. Following the completion of the sale, the insider now owns 106,134 shares in the company, valued at approximately $5,837,370. The disclosure for this sale can be found here. Insiders sold a total of 295,842 shares of company stock worth $13,762,062 over the last quarter. 4.60% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on INSM. Bank of America lifted their price objective on Insmed from $62.00 to $83.00 and gave the company a “buy” rating in a report on Friday, June 28th. JPMorgan Chase & Co. boosted their price objective on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research note on Thursday, June 20th. The Goldman Sachs Group increased their price target on shares of Insmed from $49.00 to $74.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Wells Fargo & Company lifted their price objective on Insmed from $55.00 to $77.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. Finally, HC Wainwright reiterated a “buy” rating and set a $70.00 price target on shares of Insmed in a research report on Tuesday. One investment analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $66.31.

Insmed Stock Performance

Shares of NASDAQ INSM opened at $62.00 on Thursday. The stock has a 50 day moving average price of $44.89 and a 200 day moving average price of $33.90. The stock has a market capitalization of $9.21 billion, a PE ratio of -11.85 and a beta of 1.16. Insmed Incorporated has a 52 week low of $19.74 and a 52 week high of $70.65.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, May 9th. The biopharmaceutical company reported ($1.06) EPS for the quarter, beating the consensus estimate of ($1.22) by $0.16. The company had revenue of $75.50 million during the quarter, compared to analyst estimates of $77.76 million. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($1.17) EPS. As a group, research analysts forecast that Insmed Incorporated will post -4.65 EPS for the current year.

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.