Eventide Asset Management LLC Has $66.17 Million Position in Insmed Incorporated (NASDAQ:INSM)

Eventide Asset Management LLC grew its holdings in Insmed Incorporated (NASDAQ:INSM) by 34.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 906,395 shares of the biopharmaceutical company’s stock after purchasing an additional 231,210 shares during the quarter. Insmed comprises about 1.1% of Eventide Asset Management LLC’s investment portfolio, making the stock its 29th largest position. Eventide Asset Management LLC’s holdings in Insmed were worth $66,167,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. V Square Quantitative Management LLC acquired a new position in Insmed in the third quarter worth $30,000. GAMMA Investing LLC boosted its stake in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares in the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Insmed by 83.4% during the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock valued at $42,000 after acquiring an additional 287 shares during the period. Exchange Traded Concepts LLC lifted its stake in shares of Insmed by 522.5% during the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock valued at $55,000 after acquiring an additional 627 shares during the period. Finally, CWM LLC lifted its stake in shares of Insmed by 11.0% during 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 during the period.

Insider Activity at Insmed

In other news, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the completion of the sale, the insider now directly owns 67,856 shares of the company’s stock, valued at $5,045,093.60. This trade represents a 29.12 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm’s 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 completion of the sale, 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. Over the last ninety days, insiders sold 78,882 shares of company stock valued at $5,765,446. Insiders own 4.60% of the company’s stock.

Wall Street Analyst Weigh In

INSM has been the topic of several research reports. Truist Financial reaffirmed a “buy” rating and set a $105.00 price target (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. JPMorgan Chase & Co. upped their price target on Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research note on Friday, November 22nd. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a report on Friday, November 1st. Finally, UBS Group upped their price objective on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $83.67.

Insmed Stock Up 0.3 %

Shares of NASDAQ INSM opened at $75.88 on Friday. The stock has a 50 day moving average price of $72.18 and a 200 day moving average price of $67.40. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53. 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 (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS 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 analysts’ expectations of $93.36 million. During the same period in the previous year, the business earned ($1.10) earnings per share. The business’s revenue was up 18.1% on a year-over-year basis. Equities 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.