Harbor Capital Advisors Inc. acquired a new stake in shares of Insmed Incorporated (NASDAQ:INSM - Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 17,682 shares of the biopharmaceutical company's stock, valued at approximately $1,291,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in INSM. Vanguard Group Inc. grew its holdings in shares of Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company's stock worth $393,636,000 after purchasing an additional 383,714 shares in the last quarter. Darwin Global Management Ltd. bought a new stake in shares of Insmed during the 2nd quarter worth $237,076,000. Principal Financial Group Inc. boosted its stake in Insmed by 15.2% in the second quarter. Principal Financial Group Inc. now owns 1,657,760 shares of the biopharmaceutical company's stock worth $111,069,000 after buying an additional 218,480 shares in the last quarter. Clearbridge Investments LLC grew its position in Insmed by 76.8% during the 2nd quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company's stock worth $110,212,000 after acquiring an additional 714,539 shares during the last quarter. Finally, Capital International Investors bought a new stake in Insmed in the first quarter valued at approximately $43,973,000.
INSM opened at $69.30 on Wednesday. The stock has a market capitalization of $11.91 billion, a price-to-earnings ratio of -12.49 and a beta of 1.12. The firm has a 50 day moving average price of $72.73 and a 200-day moving average price of $62.38. Insmed Incorporated has a twelve month low of $21.92 and a twelve month 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 - Get Free Report) last announced its earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts' consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million for the quarter, compared to analyst estimates of $93.36 million. During the same period in the previous year, the company posted ($1.10) EPS. The company's revenue was up 18.1% on a year-over-year basis. Equities research analysts forecast that Insmed Incorporated will post -5.36 earnings per share for the current year.
In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the company's stock in a transaction dated 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 owns 100,100 shares of the company's stock, valued at $7,157,150. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the firm's stock in a transaction dated 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 transaction, the insider now 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Michael Alexander Smith sold 27,871 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 67,856 shares of the company's stock, valued at $5,045,093.60. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 78,882 shares of company stock valued at $5,765,446. Insiders own 4.60% of the company's stock.
Several research firms have recently issued reports on INSM. Guggenheim boosted their target price on Insmed from $70.00 to $95.00 and gave the company a "buy" rating in a research note on Tuesday, July 9th. Truist Financial reiterated a "buy" rating and issued a $105.00 price objective (up previously from $100.00) on shares of Insmed in a report on Friday, November 1st. UBS Group increased their price target on shares of Insmed from $78.00 to $84.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. JPMorgan Chase & Co. raised 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. Finally, Morgan Stanley upped their price target on Insmed from $60.00 to $85.00 and gave the stock an "overweight" rating in a research note on Friday, July 12th. One research analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.07.
Get Our Latest Stock Analysis on INSM
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.
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