Amalgamated Bank Raises Stake in Insmed Incorporated (NASDAQ:INSM)

Amalgamated Bank grew its holdings in Insmed Incorporated (NASDAQ:INSM) by 15.2% in the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,327 shares of the biopharmaceutical company’s stock after buying an additional 701 shares during the period. Amalgamated Bank’s holdings in Insmed were worth $357,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in INSM. Vanguard Group Inc. lifted its position in Insmed by 2.7% during the 1st quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after acquiring an additional 383,714 shares during the period. Principal Financial Group Inc. grew its position in Insmed by 15.2% in the 2nd quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company’s stock valued at $111,069,000 after buying an additional 218,480 shares during the last quarter. Capital International Investors acquired a new position in Insmed in the 1st quarter valued at $43,973,000. Hood River Capital Management LLC raised its position in Insmed by 6.3% during the 1st quarter. Hood River Capital Management LLC now owns 962,501 shares of the biopharmaceutical company’s stock worth $26,113,000 after buying an additional 56,682 shares during the last quarter. Finally, Clearbridge Investments LLC acquired a new stake in shares of Insmed in the 1st quarter worth $25,242,000.

Insmed Stock Down 0.5 %

Shares of NASDAQ:INSM opened at $72.48 on Monday. The company has a market capitalization of $10.77 billion, a P/E ratio of -13.86 and a beta of 1.11. The stock’s fifty day simple moving average is $74.29 and its 200-day simple moving average is $53.61. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) EPS for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million for the quarter, compared to analyst estimates of $87.95 million. Insmed’s quarterly revenue was up 17.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.78) EPS. As a group, equities research analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have recently issued reports on INSM. Bank of America reiterated a “buy” rating and set a $83.00 price target on shares of Insmed in a research note on Friday, July 5th. Morgan Stanley increased their target price on Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a research note on Friday, July 12th. The Goldman Sachs Group lifted their price target on Insmed from $74.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, July 10th. Guggenheim increased their price objective on Insmed from $70.00 to $95.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $81.40.

Insider Buying and Selling at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 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 stock was sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The disclosure for this sale can be found here. In the last three months, insiders sold 78,882 shares of company stock worth $5,765,446. Insiders own 4.60% of the company’s stock.

About Insmed

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.