Commerce Bank Buys 163 Shares of Insmed Incorporated (NASDAQ:INSM)

Commerce Bank grew its stake in Insmed Incorporated (NASDAQ:INSM) by 2.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 6,833 shares of the biopharmaceutical company’s stock after acquiring an additional 163 shares during the quarter. Commerce Bank’s holdings in Insmed were worth $499,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. V Square Quantitative Management LLC purchased a new position in Insmed in the third quarter valued at about $30,000. GAMMA Investing LLC boosted its holdings in shares of Insmed by 71.3% in the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after buying an additional 224 shares in the last quarter. First Horizon Advisors Inc. boosted its holdings in shares of Insmed by 83.4% in the 2nd quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after buying an additional 287 shares in the last quarter. Exchange Traded Concepts LLC grew its position in shares of Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after buying an additional 627 shares during the last quarter. Finally, EntryPoint Capital LLC bought a new position in shares of Insmed during the 1st quarter worth approximately $33,000.

Insider Activity

In other news, insider Martina M.D. Flammer sold 13,436 shares of the firm’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 directly owns 106,134 shares in the company, valued at $7,951,559.28. This trade represents a 11.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Alexander Smith sold 27,871 shares of Insmed stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the transaction, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last three months. 4.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on INSM. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a report on Monday, September 9th. Bank of America increased their price objective on shares of Insmed from $84.00 to $86.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, JPMorgan Chase & Co. upped their price target on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. One investment analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Insmed currently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Stock Performance

NASDAQ INSM opened at $75.68 on Wednesday. The firm has a market capitalization of $13.54 billion, a P/E ratio of -13.35 and a beta of 1.12. The stock has a 50-day simple moving average of $72.05 and a two-hundred day simple moving average of $66.93. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. Insmed Incorporated has a fifty-two week low of $21.92 and a fifty-two week high of $80.53.

Insmed (NASDAQ:INSM) last announced its quarterly 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 company had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period in the prior year, the company posted ($1.10) EPS. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. On average, equities analysts forecast that Insmed Incorporated will post -5.42 earnings per share for the current 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.