Insmed Incorporated (NASDAQ:INSM) Shares Bought by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 18.9% during the third quarter, Holdings Channel reports. The firm owned 390,134 shares of the biopharmaceutical company’s stock after buying an additional 62,061 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Insmed were worth $28,480,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Blue Trust Inc. grew its stake in Insmed by 2,348.8% during the 3rd quarter. Blue Trust Inc. now owns 1,959 shares of the biopharmaceutical company’s stock worth $131,000 after buying an additional 1,879 shares during the last quarter. V Square Quantitative Management LLC bought a new position in shares of Insmed during the third quarter worth about $30,000. Creative Planning increased its holdings in shares of Insmed by 31.2% in the 3rd quarter. Creative Planning now owns 44,914 shares of the biopharmaceutical company’s stock worth $3,279,000 after acquiring an additional 10,668 shares during the period. Exchange Traded Concepts LLC lifted its position in Insmed by 522.5% in the 3rd quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after purchasing an additional 627 shares during the last quarter. Finally, Tobam acquired a new position in Insmed during the 3rd quarter valued at about $464,000.

Analyst Ratings Changes

Several equities research analysts have commented on INSM shares. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research note on Thursday, August 29th. Bank of America boosted their price target on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen raised their price target on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. Morgan Stanley upped their price objective on shares of Insmed from $60.00 to $85.00 and gave the stock an “overweight” rating in a report on Friday, July 12th. Finally, StockNews.com cut shares of Insmed from a “hold” rating to a “sell” rating in a research note on Friday, August 9th. One equities research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $82.73.

Insider Buying and Selling at Insmed

In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the firm’s stock in a transaction on Monday, September 16th. The stock was 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 directly owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is currently owned by corporate insiders.

Insmed Price Performance

NASDAQ INSM opened at $71.94 on Thursday. The stock has a market capitalization of $10.69 billion, a P/E ratio of -13.76 and a beta of 1.11. The company has a debt-to-equity ratio of 25.05, a quick ratio of 2.53 and a current ratio of 2.71. The business’s fifty day moving average is $73.98 and its two-hundred day moving average is $59.42. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 8th. The biopharmaceutical company reported ($1.94) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.22) by ($0.72). The firm had revenue of $90.34 million during the quarter, compared to the consensus estimate of $87.95 million. During the same quarter in the previous year, the business earned ($1.78) earnings per share. The firm’s revenue for the quarter was up 17.0% compared to the same quarter last year. On average, research analysts forecast that Insmed Incorporated will post -5.41 earnings per share 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.