Castleark Management LLC Boosts Holdings in Insmed Incorporated (NASDAQ:INSM)

Castleark Management LLC raised its holdings in Insmed Incorporated (NASDAQ:INSM) by 159.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,300 shares of the biopharmaceutical company’s stock after purchasing an additional 26,640 shares during the period. Castleark Management LLC’s holdings in Insmed were worth $3,161,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. V Square Quantitative Management LLC acquired a new position in shares of Insmed during the 3rd quarter worth approximately $30,000. GAMMA Investing LLC increased its position in Insmed by 71.3% during the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after buying an additional 224 shares in the last quarter. First Horizon Advisors Inc. increased its position in Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after buying an additional 287 shares in the last quarter. Exchange Traded Concepts LLC raised its holdings in shares of Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after acquiring an additional 627 shares during the last quarter. Finally, CWM LLC lifted its position in shares of Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock valued at $105,000 after acquiring an additional 155 shares in the last quarter.

Analyst Ratings Changes

A number of analysts recently commented on the company. Cantor Fitzgerald reiterated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. Truist Financial reiterated a “buy” rating and set a $105.00 price target (up from $100.00) on shares of Insmed in a report on Friday, November 1st. JPMorgan Chase & Co. upped their price objective 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. Bank of America lifted their target price on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, HC Wainwright reissued a “buy” rating and set a $90.00 price target on shares of Insmed in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.67.

Insider Transactions at Insmed

In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 106,134 shares in the company, valued at $7,951,559.28. This represents a 11.24 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now directly owns 100,100 shares of the company’s stock, valued at $7,157,150. This trade represents a 27.29 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 78,882 shares of company stock valued at $5,765,446 over the last 90 days. Corporate insiders own 4.60% of the company’s stock.

Insmed Stock Performance

Shares of NASDAQ:INSM opened at $75.40 on Friday. The business has a 50-day moving average of $72.37 and a two-hundred day moving average of $69.76. The firm has a market capitalization of $13.49 billion, a PE ratio of -13.59 and a beta of 1.10. The company has a debt-to-equity ratio of 2.03, a current ratio of 6.37 and a quick ratio of 5.99. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53.

Insmed (NASDAQ:INSM) last posted its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted ($1.10) earnings per share. As a group, research analysts forecast that Insmed Incorporated will post -5.44 earnings per share for the current year.

Insmed Company 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.