The Manufacturers Life Insurance Company lifted its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 1.7% in the 3rd quarter, Holdings Channel.com reports. The firm owned 59,038 shares of the biopharmaceutical company’s stock after buying an additional 1,014 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in Insmed were worth $1,626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors also recently added to or reduced their stakes in the company. US Bancorp DE raised its stake in shares of Insmed by 367.9% during the third quarter. US Bancorp DE now owns 2,569 shares of the biopharmaceutical company’s stock worth $70,000 after purchasing an additional 2,020 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of Insmed by 438.4% during the third quarter. Nisa Investment Advisors LLC now owns 5,895 shares of the biopharmaceutical company’s stock worth $162,000 after purchasing an additional 4,800 shares during the last quarter. Telemetry Investments L.L.C. purchased a new stake in shares of Insmed during the second quarter worth approximately $228,000. Boothbay Fund Management LLC purchased a new stake in shares of Insmed during the second quarter worth approximately $253,000. Finally, Virtu Financial LLC purchased a new stake in shares of Insmed during the second quarter worth approximately $330,000.
NASDAQ:INSM opened at $23.34 on Monday. The stock has a fifty day moving average price of $25.08 and a two-hundred day moving average price of $26.70. The stock has a market capitalization of $2.76 billion, a price-to-earnings ratio of -5.95 and a beta of 2.20. The company has a debt-to-equity ratio of 1.13, a quick ratio of 7.92 and a current ratio of 8.52. Insmed Incorporated has a 1 year low of $20.02 and a 1 year high of $43.30.
INSM has been the subject of several analyst reports. JPMorgan Chase & Co. began coverage on Insmed in a research note on Monday, December 6th. They set an “overweight” rating and a $45.00 price target for the company. Zacks Investment Research cut Insmed from a “hold” rating to a “sell” rating in a research report on Thursday, December 30th. One investment analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $48.80.
In other news, insider Martina M.D. Flammer sold 1,423 shares of the firm’s stock in a transaction on Wednesday, January 5th. The stock was sold at an average price of $27.61, for a total value of $39,289.03. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William Lewis sold 50,000 shares of the firm’s stock in a transaction on Thursday, December 23rd. The shares were sold at an average price of $28.21, for a total value of $1,410,500.00. The disclosure for this sale can be found here. Insiders sold 115,556 shares of company stock valued at $3,208,544 in the last quarter. 4.63% of the stock is currently owned by company insiders.
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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