Rhumbline Advisers Has $30.66 Million Stake in Insmed, Inc. $INSM

Rhumbline Advisers increased its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 2.2% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 212,903 shares of the biopharmaceutical company’s stock after purchasing an additional 4,558 shares during the quarter. Rhumbline Advisers’ holdings in Insmed were worth $30,660,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Stratos Wealth Partners LTD. lifted its holdings in Insmed by 31.1% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 2,903 shares of the biopharmaceutical company’s stock worth $418,000 after buying an additional 688 shares in the last quarter. Baader Bank Aktiengesellschaft bought a new stake in shares of Insmed during the third quarter worth $712,000. Essex Investment Management Co. LLC lifted its stake in shares of Insmed by 31.2% during the third quarter. Essex Investment Management Co. LLC now owns 87,077 shares of the biopharmaceutical company’s stock valued at $12,540,000 after acquiring an additional 20,732 shares during the period. ProShare Advisors LLC boosted its holdings in Insmed by 10.7% in the third quarter. ProShare Advisors LLC now owns 7,530 shares of the biopharmaceutical company’s stock valued at $1,084,000 after acquiring an additional 729 shares during the last quarter. Finally, New York Life Investment Management LLC increased its position in Insmed by 2.7% in the third quarter. New York Life Investment Management LLC now owns 19,177 shares of the biopharmaceutical company’s stock worth $2,762,000 after purchasing an additional 497 shares during the period.

Insmed Stock Up 1.8%

Shares of NASDAQ:INSM opened at $148.75 on Monday. The company has a 50 day moving average price of $169.05 and a two-hundred day moving average price of $162.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The company has a market capitalization of $31.72 billion, a PE ratio of -24.03 and a beta of 1.11. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75.

Wall Street Analysts Forecast Growth

INSM has been the topic of a number of research reports. Leerink Partners restated an “outperform” rating on shares of Insmed in a research report on Thursday, December 18th. Cantor Fitzgerald increased their price objective on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Citigroup reaffirmed an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Guggenheim dropped their target price on shares of Insmed from $230.00 to $221.00 and set a “buy” rating for the company in a research report on Thursday, December 18th. Finally, Jefferies Financial Group set a $269.00 price target on Insmed in a research report on Wednesday, December 10th. Three analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy” and an average price target of $204.24.

Insider Activity

In other Insmed news, COO Roger Adsett sold 791 shares of the stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total value of $123,530.47. Following the completion of the sale, the chief operating officer directly owned 106,810 shares in the company, valued at $16,680,517.70. This represents a 0.74% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Michael Alexander Smith sold 640 shares of the firm’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total value of $100,012.80. Following the sale, the insider directly owned 56,397 shares in the company, valued at approximately $8,813,159.19. This represents a 1.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 173,253 shares of company stock worth $29,629,842 in the last 90 days. Corporate insiders own 3.00% of the company’s stock.

Insmed Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.