Allspring Global Investments Holdings LLC Reduces Stock Holdings in Insmed Incorporated (NASDAQ:INSM)

Allspring Global Investments Holdings LLC decreased its stake in Insmed Incorporated (NASDAQ:INSM) by 41.3% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 11,399 shares of the biopharmaceutical company’s stock after selling 8,034 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Insmed were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. International Assets Investment Management LLC purchased a new position in Insmed during the 4th quarter valued at $25,000. China Universal Asset Management Co. Ltd. lifted its holdings in shares of Insmed by 106.8% in the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 3,698 shares of the biopharmaceutical company’s stock worth $93,000 after buying an additional 1,910 shares during the period. Assetmark Inc. lifted its holdings in shares of Insmed by 10.7% in the 3rd quarter. Assetmark Inc. now owns 4,799 shares of the biopharmaceutical company’s stock worth $121,000 after buying an additional 463 shares during the period. Mackenzie Financial Corp purchased a new stake in shares of Insmed in the 3rd quarter worth $208,000. Finally, Beacon Financial Advisory LLC purchased a new stake in shares of Insmed in the 3rd quarter worth $254,000.

Analyst Upgrades and Downgrades

INSM has been the subject of several research reports. Wells Fargo & Company reiterated an “overweight” rating and issued a $55.00 target price on shares of Insmed in a report on Monday, April 1st. Barclays upped their target price on Insmed from $37.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Truist Financial initiated coverage on Insmed in a report on Tuesday. They issued a “buy” rating and a $48.00 target price for the company. Wolfe Research initiated coverage on Insmed in a research report on Thursday, February 15th. They issued an “outperform” rating and a $42.00 price target for the company. Finally, Guggenheim boosted their price target on Insmed from $52.00 to $54.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $44.92.

Insmed Price Performance

Shares of Insmed stock opened at $24.80 on Friday. Insmed Incorporated has a 12 month low of $18.08 and a 12 month high of $32.00. The stock has a market capitalization of $3.68 billion, a P/E ratio of -4.64 and a beta of 0.92. The business has a 50 day simple moving average of $27.07 and a two-hundred day simple moving average of $27.03.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 22nd. The biopharmaceutical company reported ($1.28) EPS for the quarter, missing the consensus estimate of ($1.13) by ($0.15). The company had revenue of $83.70 million during the quarter, compared to analysts’ expectations of $82.15 million. During the same period in the previous year, the company posted ($1.20) earnings per share. The business’s revenue was up 41.1% on a year-over-year basis. As a group, research analysts anticipate that Insmed Incorporated will post -4.68 EPS for the current fiscal year.

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.