Assetmark Inc. Purchases 2,975 Shares of Insmed Incorporated (NASDAQ:INSM)

Assetmark Inc. raised its holdings in Insmed Incorporated (NASDAQ:INSM) by 12.9% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 26,053 shares of the biopharmaceutical company’s stock after purchasing an additional 2,975 shares during the quarter. Assetmark Inc.’s holdings in Insmed were worth $1,902,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Nisa Investment Advisors LLC lifted its position in Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after acquiring an additional 135 shares in the last quarter. CWM LLC grew its stake in Insmed by 11.0% in the 2nd quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after buying an additional 155 shares during the last quarter. GAMMA Investing LLC lifted its holdings in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the last quarter. First Horizon Advisors Inc. raised its stake in Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares in the last quarter. Finally, Atomi Financial Group Inc. boosted its stake in shares of Insmed by 1.4% in the third quarter. Atomi Financial Group Inc. now owns 23,248 shares of the biopharmaceutical company’s stock valued at $1,697,000 after buying an additional 314 shares during the period.

Wall Street Analysts Forecast Growth

INSM has been the topic of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a report on Thursday, October 3rd. Stifel Nicolaus raised their price objective on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. TD Cowen upped their price target on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial reissued 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. Finally, StockNews.com lowered Insmed from a “hold” rating to a “sell” rating in a research report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $83.07.

Insmed Stock Up 0.7 %

INSM opened at $70.60 on Thursday. The stock has a market capitalization of $12.63 billion, a price-to-earnings ratio of -12.72 and a beta of 1.12. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. 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 fifty day moving average of $72.26 and a two-hundred day moving average of $64.08.

Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The firm had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same period last year, the business earned ($1.10) EPS. The firm’s revenue was up 18.1% on a year-over-year basis. On average, research analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current year.

Insider Transactions at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the sale, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. The trade was a 0.00 % 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 valued at $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

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.