Harbor Capital Advisors Inc. Invests $1.29 Million in Insmed Incorporated (NASDAQ:INSM)

Harbor Capital Advisors Inc. acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 17,682 shares of the biopharmaceutical company’s stock, valued at approximately $1,291,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of INSM. US Bancorp DE raised its holdings in shares of Insmed by 55.3% in the third quarter. US Bancorp DE now owns 7,932 shares of the biopharmaceutical company’s stock worth $579,000 after acquiring an additional 2,824 shares during the last quarter. China Universal Asset Management Co. Ltd. grew its holdings in shares of Insmed by 74.5% during the third quarter. China Universal Asset Management Co. Ltd. now owns 33,052 shares of the biopharmaceutical company’s stock worth $2,413,000 after buying an additional 14,110 shares in the last quarter. Nisa Investment Advisors LLC raised its position in shares of Insmed by 88.4% in the third quarter. Nisa Investment Advisors LLC now owns 3,350 shares of the biopharmaceutical company’s stock valued at $245,000 after buying an additional 1,572 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Insmed by 29.1% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,215 shares of the biopharmaceutical company’s stock valued at $450,000 after buying an additional 1,402 shares during the period. Finally, Mount Yale Investment Advisors LLC acquired a new stake in Insmed during the third quarter worth approximately $259,000.

Insider Activity

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $74.92, for a total value of $1,006,625.12. Following the completion of the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated 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 transaction, the insider now directly owns 100,100 shares in the company, valued at $7,157,150. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock worth $5,765,446 over the last ninety days. Corporate insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. Truist Financial reissued a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Guggenheim upped their price objective on shares of Insmed from $70.00 to $95.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. HC Wainwright reissued a “buy” rating and issued a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Bank of America upped their price target on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a report on Monday, September 9th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.07.

Insmed Stock Up 1.8 %

NASDAQ INSM opened at $69.30 on Wednesday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53. The business has a 50 day moving average price of $72.73 and a two-hundred day moving average price of $62.38. The stock has a market cap of $11.91 billion, a PE ratio of -12.49 and a beta of 1.12.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing the consensus estimate 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 in the previous year, the business earned ($1.10) EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Insmed Incorporated will post -5.36 EPS for the current fiscal year.

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.