Vivo Capital LLC raised its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 49.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,748,174 shares of the biopharmaceutical company’s stock after buying an additional 577,884 shares during the quarter. Insmed comprises about 4.2% of Vivo Capital LLC’s holdings, making the stock its 6th largest position. Vivo Capital LLC owned 1.96% of Insmed worth $44,753,000 at the end of the most recent quarter.
A number of other hedge funds have also recently modified their holdings of INSM. Millennium Management LLC bought a new stake in Insmed during the fourth quarter worth about $146,000. Dimensional Fund Advisors LP lifted its stake in Insmed by 260.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 782,614 shares of the biopharmaceutical company’s stock worth $10,268,000 after purchasing an additional 565,297 shares during the last quarter. California Public Employees Retirement System lifted its stake in Insmed by 12.0% during the first quarter. California Public Employees Retirement System now owns 115,782 shares of the biopharmaceutical company’s stock worth $3,366,000 after purchasing an additional 12,382 shares during the last quarter. Raymond James & Associates lifted its stake in Insmed by 77.2% during the first quarter. Raymond James & Associates now owns 102,321 shares of the biopharmaceutical company’s stock worth $2,974,000 after purchasing an additional 44,564 shares during the last quarter. Finally, Shell Asset Management Co. bought a new stake in Insmed during the first quarter worth about $273,000.
Several equities research analysts have issued reports on the company. BidaskClub raised Insmed from a “strong sell” rating to a “sell” rating in a research note on Thursday. Goldman Sachs Group assumed coverage on Insmed in a research note on Tuesday, September 3rd. They set a “buy” rating and a $30.00 price target for the company. Credit Suisse Group reaffirmed a “buy” rating and set a $40.00 price target on shares of Insmed in a research note on Tuesday. ValuEngine raised Insmed from a “hold” rating to a “buy” rating in a research note on Wednesday. Finally, Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $36.63.
Shares of NASDAQ INSM traded down $0.15 during midday trading on Friday, reaching $18.86. The company had a trading volume of 42,675 shares, compared to its average volume of 890,791. Insmed Incorporated has a one year low of $11.31 and a one year high of $33.13. The company has a quick ratio of 7.31, a current ratio of 7.54 and a debt-to-equity ratio of 1.01. The firm’s fifty day moving average price is $17.65 and its 200-day moving average price is $25.06. The stock has a market cap of $1.62 billion, a PE ratio of -4.53 and a beta of 2.98.
Insmed (NASDAQ:INSM) last released its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.85) by $0.04. The company had revenue of $30.00 million during the quarter, compared to the consensus estimate of $26.30 million. As a group, equities research analysts expect that Insmed Incorporated will post -3.02 EPS for the current year.
In other news, CEO William Lewis sold 400,000 shares of the business’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total value of $10,400,000.00. Following the completion of the sale, the chief executive officer now owns 480,672 shares of the company’s stock, valued at approximately $12,497,472. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 4.95% of the company’s stock.
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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