Point72 Asset Management L.P. acquired a new stake in Insmed Incorporated (NASDAQ:INSM) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 110,410 shares of the biopharmaceutical company’s stock, valued at approximately $3,446,000. Point72 Asset Management L.P. owned about 0.14% of Insmed at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of INSM. SG Americas Securities LLC acquired a new position in shares of Insmed during the second quarter worth about $129,000. BNP Paribas Arbitrage SA boosted its position in shares of Insmed by 666.7% during the second quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock worth $129,000 after buying an additional 6,520 shares during the period. UBS Asset Management Americas Inc. acquired a new position in shares of Insmed during the second quarter worth about $187,000. Virtu KCG Holdings LLC acquired a new position in shares of Insmed during the second quarter worth about $201,000. Finally, Redmile Group LLC acquired a new position in shares of Insmed during the second quarter worth about $212,000. 95.28% of the stock is owned by hedge funds and other institutional investors.
Several analysts recently issued reports on the company. BidaskClub upgraded Insmed from a “sell” rating to a “hold” rating in a report on Friday, December 22nd. Cowen reiterated a “buy” rating and set a $54.00 target price on shares of Insmed in a report on Friday, November 3rd. Zacks Investment Research upgraded Insmed from a “sell” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Tuesday. Robert W. Baird reiterated a “positive” rating and set a $42.00 target price (up previously from $32.00) on shares of Insmed in a report on Thursday, January 4th. Finally, HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Insmed in a research note on Thursday, January 4th. Three analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $37.50.
In related news, Director Donald J. Hayden, Jr. sold 15,000 shares of the stock in a transaction that occurred on Tuesday, November 14th. The stock was sold at an average price of $32.50, for a total transaction of $487,500.00. Following the sale, the director now owns 71,131 shares of the company’s stock, valued at $2,311,757.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.
Shares of Insmed Incorporated (NASDAQ:INSM) traded up $0.25 during midday trading on Thursday, hitting $31.26. The stock had a trading volume of 443,745 shares, compared to its average volume of 740,368. The company has a market capitalization of $2,390.00, a price-to-earnings ratio of -10.02 and a beta of 1.18. Insmed Incorporated has a one year low of $11.49 and a one year high of $33.94. The company has a debt-to-equity ratio of 0.13, a quick ratio of 15.21 and a current ratio of 15.21.
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Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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