Metropolitan Life Insurance Co. NY boosted its position in Insmed Incorporated (NASDAQ:INSM) by 385.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,006 shares of the biopharmaceutical company’s stock after buying an additional 20,645 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Insmed were worth $341,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Wells Fargo & Company MN boosted its stake in Insmed by 42.5% during the 3rd quarter. Wells Fargo & Company MN now owns 61,611 shares of the biopharmaceutical company’s stock worth $1,245,000 after acquiring an additional 18,388 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Insmed by 91.5% during the 3rd quarter. JPMorgan Chase & Co. now owns 506,391 shares of the biopharmaceutical company’s stock valued at $10,240,000 after acquiring an additional 241,921 shares in the last quarter. Dimensional Fund Advisors LP bought a new position in Insmed during the 3rd quarter valued at $4,396,000. Pacer Advisors Inc. bought a new stake in shares of Insmed during the 3rd quarter worth $155,000. Finally, Point72 Asset Management L.P. bought a new stake in shares of Insmed during the 3rd quarter worth $13,129,000.
Insmed stock traded down $1.45 during midday trading on Wednesday, hitting $30.73. 3,329 shares of the stock were exchanged, compared to its average volume of 690,891. The company has a debt-to-equity ratio of 1.52, a current ratio of 6.51 and a quick ratio of 6.42. Insmed Incorporated has a 52 week low of $11.31 and a 52 week high of $33.13. The firm has a market capitalization of $2.45 billion, a price-to-earnings ratio of -7.32 and a beta of 3.03.
Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Friday, February 22nd. The biopharmaceutical company reported ($1.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.11) by ($0.06). The business had revenue of $9.84 million for the quarter, compared to analysts’ expectations of $5.01 million. As a group, analysts predict that Insmed Incorporated will post -3.7 EPS for the current fiscal year.
A number of research firms have weighed in on INSM. HC Wainwright reaffirmed a “buy” rating and set a $52.00 target price (up previously from $43.00) on shares of Insmed in a report on Tuesday, April 9th. BidaskClub upgraded Insmed from a “hold” rating to a “buy” rating in a report on Friday, April 5th. Canaccord Genuity set a $44.00 price target on Insmed and gave the stock a “buy” rating in a research note on Friday, March 8th. Zacks Investment Research downgraded Insmed from a “buy” rating to a “hold” rating in a report on Saturday, March 2nd. Finally, ValuEngine raised Insmed from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 19th. Two research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $37.00.
In other news, Director Alfred Altomari sold 5,500 shares of the stock in a transaction on Tuesday, February 26th. The stock was sold at an average price of $30.00, for a total value of $165,000.00. Following the sale, the director now directly owns 25,942 shares of the company’s stock, valued at $778,260. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Donald J. Hayden, Jr. sold 6,286 shares of the stock in a transaction dated Tuesday, April 9th. The shares were sold at an average price of $32.99, for a total value of $207,375.14. Following the completion of the transaction, the director now directly owns 68,483 shares in the company, valued at approximately $2,259,254.17. The disclosure for this sale can be found here. Insiders have sold a total of 37,686 shares of company stock worth $1,079,517 over the last quarter. Company insiders own 3.88% of the company’s stock.
Insmed Incorporated, a biopharmaceutical company, focuses on the development and commercialization of therapies for patients with serious and rare diseases. The company's product candidate is ARIKAYCE 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 in a refractory setting.
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