Van ECK Associates Corp Acquires Shares of 127,024 Insmed Incorporated (NASDAQ:INSM)

Van ECK Associates Corp bought a new position in Insmed Incorporated (NASDAQ:INSM) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 127,024 shares of the biopharmaceutical company’s stock, valued at approximately $9,138,000. Van ECK Associates Corp owned 0.09% of Insmed at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of INSM. Vanguard Group Inc. grew its position in Insmed by 2.7% in the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock valued at $393,636,000 after acquiring an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. acquired a new stake in Insmed during the 2nd quarter valued at $237,076,000. Principal Financial Group Inc. increased its stake in Insmed by 15.2% during the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock worth $111,069,000 after buying an additional 218,480 shares during the period. Clearbridge Investments LLC lifted its holdings in Insmed by 76.8% in the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock worth $110,212,000 after buying an additional 714,539 shares in the last quarter. Finally, Capital International Investors purchased a new position in Insmed in the 1st quarter valued at about $43,973,000.

Wall Street Analyst Weigh In

Several research firms recently commented on INSM. StockNews.com cut Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their price target on shares of Insmed from $72.00 to $74.00 and gave the stock an “overweight” rating in a research note on Thursday, October 3rd. The Goldman Sachs Group increased their price objective on shares of Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Finally, Morgan Stanley upped their target price on shares of Insmed from $60.00 to $85.00 and gave the company an “overweight” rating in a research note on Friday, July 12th. One 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, Insmed presently has a consensus rating of “Moderate Buy” and an average price target of $83.07.

Insmed Price Performance

Shares of NASDAQ INSM opened at $72.86 on Thursday. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. The firm has a market capitalization of $13.03 billion, a PE ratio of -13.13 and a beta of 1.12. Insmed Incorporated has a 1-year low of $21.92 and a 1-year high of $80.53. The business’s fifty day moving average price is $72.66 and its two-hundred day moving average price is $62.45.

Insmed (NASDAQ:INSM) last released its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share 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 analyst estimates of $93.36 million. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($1.10) earnings per share. On average, research analysts expect that Insmed Incorporated will post -5.52 EPS for the current year.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the completion of the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other news, insider Michael Alexander Smith sold 27,871 shares of the company’s 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 completion of the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through 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 shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at $7,157,150. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 78,882 shares of company stock valued at $5,765,446. Insiders own 4.60% of the company’s stock.

Insmed 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.