Metropolitan Life Insurance Co. NY lowered its holdings in Insmed, Inc. (NASDAQ:INSM) by 50.4% during the fourth quarter, HoldingsChannel.com reports. The fund owned 24,316 shares of the biopharmaceutical company’s stock after selling 24,660 shares during the quarter. Metropolitan Life Insurance Co. NY’s holdings in Insmed were worth $758,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors have also added to or reduced their stakes in INSM. Zurcher Kantonalbank Zurich Cantonalbank increased its stake in shares of Insmed by 137.4% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 4,662 shares of the biopharmaceutical company’s stock worth $145,000 after acquiring an additional 2,698 shares during the period. Public Employees Retirement Association of Colorado acquired a new stake in shares of Insmed in the fourth quarter worth $188,000. Prudential Financial Inc. acquired a new stake in shares of Insmed in the third quarter worth $232,000. Jefferies Group LLC acquired a new stake in shares of Insmed in the fourth quarter worth $245,000. Finally, Boothbay Fund Management LLC acquired a new stake in Insmed during the third quarter valued at $287,000. Hedge funds and other institutional investors own 99.08% of the company’s stock.
INSM stock opened at $20.06 on Friday. The firm has a market cap of $1,532.36, a P/E ratio of -6.94 and a beta of 1.11. The company has a current ratio of 8.72, a quick ratio of 8.72 and a debt-to-equity ratio of 0.15. Insmed, Inc. has a one year low of $11.49 and a one year high of $33.94.
Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Friday, February 23rd. The biopharmaceutical company reported ($0.85) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.67) by ($0.18). research analysts predict that Insmed, Inc. will post -3.8 earnings per share for the current year.
Several analysts recently commented on the stock. Morgan Stanley assumed coverage on shares of Insmed in a research report on Wednesday, March 21st. They set an “overweight” rating and a $39.00 price target on the stock. BidaskClub lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Tuesday, March 20th. Zacks Investment Research lowered shares of Insmed from a “hold” rating to a “sell” rating in a research report on Wednesday, February 28th. ValuEngine upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research report on Friday, February 2nd. Finally, Credit Suisse Group assumed coverage on shares of Insmed in a research report on Wednesday, January 17th. They set a “neutral” rating and a $31.00 price target on the stock. Two research analysts have rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Insmed presently has a consensus rating of “Hold” and a consensus price target of $36.90.
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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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