Laurion Capital Management LP bought a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 350,865 shares of the biopharmaceutical company’s stock, valued at approximately $8,982,000.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System raised its position in Insmed by 4.9% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 41,202 shares of the biopharmaceutical company’s stock valued at $1,055,000 after purchasing an additional 1,910 shares in the last quarter. Aperio Group LLC raised its position in Insmed by 21.0% in the 2nd quarter. Aperio Group LLC now owns 11,402 shares of the biopharmaceutical company’s stock valued at $292,000 after purchasing an additional 1,977 shares in the last quarter. Riverhead Capital Management LLC acquired a new stake in Insmed in the 2nd quarter valued at about $73,000. NumerixS Investment Technologies Inc acquired a new stake in Insmed in the 1st quarter valued at about $106,000. Finally, Tyers Asset Management LLC raised its position in Insmed by 1,002.5% in the 2nd quarter. Tyers Asset Management LLC now owns 7,056 shares of the biopharmaceutical company’s stock valued at $181,000 after purchasing an additional 6,416 shares in the last quarter.
A number of equities research analysts have issued reports on INSM shares. Goldman Sachs Group started coverage on Insmed in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 price target on the stock. Credit Suisse Group reissued a “buy” rating and set a $40.00 target price on shares of Insmed in a research report on Tuesday. BidaskClub raised Insmed from a “strong sell” rating to a “sell” rating in a research report on Thursday. ValuEngine raised Insmed from a “hold” rating to a “buy” rating in a research report on Wednesday. Finally, Zacks Investment Research raised Insmed from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a research report on Wednesday, July 17th. One research analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the stock. Insmed currently has an average rating of “Buy” and a consensus price target of $36.63.
Shares of NASDAQ INSM traded down $0.19 during midday trading on Friday, hitting $18.82. 617,449 shares of the company’s stock were exchanged, compared to its average volume of 886,113. The company has a debt-to-equity ratio of 1.01, a current ratio of 7.54 and a quick ratio of 7.31. Insmed Incorporated has a twelve month low of $11.31 and a twelve month high of $33.13. The company has a market cap of $1.71 billion, a PE ratio of -4.51 and a beta of 2.98. The firm’s fifty day simple moving average is $17.59 and its 200-day simple moving average is $25.01.
Insmed (NASDAQ:INSM) last issued its earnings results on Thursday, August 1st. The biopharmaceutical company reported ($0.81) earnings per share for the quarter, topping the consensus estimate of ($0.85) by $0.04. The business had revenue of $30.00 million for the quarter, compared to analyst estimates of $26.30 million. Equities analysts anticipate that Insmed Incorporated will post -3.02 EPS for the current fiscal year.
In related news, CEO William Lewis sold 400,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the transaction, the chief executive officer now owns 480,672 shares in the company, valued at approximately $12,497,472. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company 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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