Nomura Holdings Inc. acquired a new stake in Insmed Incorporated (NASDAQ:INSM – Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 11,010 shares of the biopharmaceutical company’s stock, valued at approximately $341,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Rhumbline Advisers boosted its stake in Insmed by 2.1% during the third quarter. Rhumbline Advisers now owns 197,643 shares of the biopharmaceutical company’s stock worth $4,990,000 after buying an additional 4,081 shares during the period. Federated Hermes Inc. bought a new position in Insmed during the 3rd quarter valued at about $418,000. Northern Trust Corp raised its position in Insmed by 1.7% in the 3rd quarter. Northern Trust Corp now owns 1,346,432 shares of the biopharmaceutical company’s stock worth $33,997,000 after purchasing an additional 21,875 shares during the period. Trexquant Investment LP raised its position in Insmed by 898.8% in the 3rd quarter. Trexquant Investment LP now owns 294,993 shares of the biopharmaceutical company’s stock worth $7,449,000 after purchasing an additional 265,457 shares during the period. Finally, Teza Capital Management LLC bought a new stake in Insmed in the third quarter worth about $368,000.
Insmed Price Performance
Shares of INSM stock opened at $67.99 on Friday. The stock’s 50-day moving average is $38.28 and its 200 day moving average is $31.73. Insmed Incorporated has a 1-year low of $19.68 and a 1-year high of $68.08. The company has a market cap of $10.10 billion, a P/E ratio of -13.00 and a beta of 1.12.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on INSM. UBS Group increased their price target on Insmed from $46.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Mizuho increased their target price on Insmed from $36.00 to $82.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Evercore ISI boosted their target price on shares of Insmed from $42.00 to $75.00 and gave the company an “outperform” rating in a research note on Friday. The Goldman Sachs Group raised their price target on shares of Insmed from $49.00 to $74.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Insmed from $55.00 to $72.00 and gave the company an “overweight” rating in a research report on Thursday. One investment analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, Insmed presently has a consensus rating of “Moderate Buy” and a consensus target price of $62.38.
View Our Latest Stock Analysis on INSM
Insiders Place Their Bets
In other news, insider Martina M.D. Flammer sold 21,195 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was 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 of the company’s stock, valued at approximately $5,837,370. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Martina M.D. Flammer sold 21,195 shares of the stock in a transaction that occurred 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 transaction, the insider now directly owns 106,134 shares of the company’s stock, valued at approximately $5,837,370. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO William Lewis sold 22,198 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $25.52, for a total transaction of $566,492.96. Following the sale, the chief executive officer now directly owns 384,125 shares in the company, valued at approximately $9,802,870. The disclosure for this sale can be found here. Over the last three months, insiders have sold 295,842 shares of company stock valued at $13,762,062. 4.60% of the stock is currently owned by 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.
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