Aigen Investment Management LP Makes New Investment in Insmed Incorporated (NASDAQ:INSM)

Aigen Investment Management LP acquired a new stake in shares of Insmed Incorporated (NASDAQ:INSM) in the third quarter, HoldingsChannel reports. The firm acquired 4,069 shares of the biopharmaceutical company’s stock, valued at approximately $297,000.

Several other large investors have also recently made changes to their positions in INSM. SG Americas Securities LLC boosted its position in shares of Insmed by 123.1% during the 1st quarter. SG Americas Securities LLC now owns 8,508 shares of the biopharmaceutical company’s stock valued at $231,000 after acquiring an additional 4,695 shares during the last quarter. Headlands Technologies LLC bought a new position in Insmed during the first quarter valued at $59,000. Russell Investments Group Ltd. grew its stake in shares of Insmed by 15,915.2% in the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock worth $600,000 after buying an additional 21,963 shares in the last quarter. ProShare Advisors LLC increased its holdings in shares of Insmed by 10.0% in the 1st quarter. ProShare Advisors LLC now owns 35,241 shares of the biopharmaceutical company’s stock worth $956,000 after buying an additional 3,218 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System raised its position in shares of Insmed by 1.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock valued at $1,037,000 after buying an additional 610 shares in the last quarter.

Insiders Place Their Bets

In other Insmed news, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $74.35, for a total transaction of $2,072,208.85. Following the sale, the insider now owns 67,856 shares of the company’s stock, valued at approximately $5,045,093.60. This trade represents a 29.12 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the business’s 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 transaction, the insider now directly owns 100,100 shares of the company’s stock, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 78,882 shares of company stock worth $5,765,446 in the last three months. Corporate insiders own 4.60% of the company’s stock.

Insmed Stock Down 7.0 %

Shares of NASDAQ:INSM opened at $66.29 on Friday. The business’s 50 day moving average is $72.23 and its 200 day moving average is $64.13. The stock has a market cap of $11.86 billion, a P/E ratio of -11.94 and a beta of 1.12. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last posted its quarterly 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 firm had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm earned ($1.10) earnings per share. Sell-side analysts predict that Insmed Incorporated will post -5.42 EPS for the current year.

Analysts Set New Price Targets

Several research analysts recently commented on INSM shares. Stifel Nicolaus lifted their price target on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Cantor Fitzgerald reissued an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. HC Wainwright restated a “buy” rating and issued a $90.00 price target on shares of Insmed in a research report on Friday, November 1st. TD Cowen boosted their price objective on shares of Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of Insmed from $72.00 to $74.00 and gave the company an “overweight” rating in a research note on Thursday, October 3rd. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.07.

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.