Edgestream Partners L.P. Invests $429,000 in Insmed, Inc. $INSM

Edgestream Partners L.P. bought a new stake in Insmed, Inc. (NASDAQ:INSM) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,265 shares of the biopharmaceutical company’s stock, valued at approximately $429,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Cetera Investment Advisers lifted its position in Insmed by 103.7% in the first quarter. Cetera Investment Advisers now owns 20,679 shares of the biopharmaceutical company’s stock valued at $1,578,000 after acquiring an additional 10,525 shares during the last quarter. LPL Financial LLC increased its position in shares of Insmed by 56.3% during the first quarter. LPL Financial LLC now owns 51,213 shares of the biopharmaceutical company’s stock worth $3,907,000 after purchasing an additional 18,456 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Insmed by 18.8% in the 1st quarter. US Bancorp DE now owns 11,323 shares of the biopharmaceutical company’s stock valued at $864,000 after purchasing an additional 1,790 shares during the last quarter. Atria Wealth Solutions Inc. purchased a new stake in shares of Insmed in the 1st quarter valued at about $423,000. Finally, Vanguard Group Inc. boosted its position in shares of Insmed by 0.3% in the 1st quarter. Vanguard Group Inc. now owns 18,268,122 shares of the biopharmaceutical company’s stock valued at $1,393,675,000 after purchasing an additional 49,149 shares during the period.

Insmed Trading Down 0.5%

NASDAQ:INSM opened at $204.00 on Monday. Insmed, Inc. has a 12-month low of $60.40 and a 12-month high of $212.75. The company has a current ratio of 4.63, a quick ratio of 4.34 and a debt-to-equity ratio of 0.59. The stock’s 50 day simple moving average is $180.50 and its 200-day simple moving average is $135.43. The firm has a market cap of $43.51 billion, a P/E ratio of -32.96 and a beta of 1.01.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) earnings per share for the quarter, missing the consensus estimate of ($1.35) by ($0.40). The company had revenue of $142.34 million for the quarter, compared to analyst estimates of $114.33 million. Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.Insmed’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period in the prior year, the business earned ($1.27) earnings per share. Equities analysts anticipate that Insmed, Inc. will post -4.56 EPS for the current year.

Analysts Set New Price Targets

Several research analysts have commented on INSM shares. Stifel Nicolaus lifted their price target on Insmed from $121.00 to $145.00 and gave the stock a “buy” rating in a research report on Thursday, August 14th. Evercore ISI restated an “outperform” rating and set a $180.00 target price on shares of Insmed in a research report on Wednesday, October 1st. Rothschild & Co Redburn initiated coverage on shares of Insmed in a report on Thursday. They issued a “buy” rating and a $263.00 target price on the stock. Bank of America upped their price target on shares of Insmed from $142.00 to $187.00 and gave the company a “buy” rating in a research report on Monday, October 27th. Finally, Jefferies Financial Group increased their price target on shares of Insmed from $129.00 to $148.00 and gave the stock a “buy” rating in a research note on Wednesday, August 13th. One research analyst has rated the stock with a Strong Buy rating, twenty have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $187.89.

Insider Buying and Selling

In related news, Director Melvin Md Sharoky sold 10,000 shares of the stock in a transaction dated Friday, September 12th. The shares were sold at an average price of $145.39, for a total transaction of $1,453,900.00. Following the completion of the transaction, the director directly owned 262,675 shares of the company’s stock, valued at $38,190,318.25. This represents a 3.67% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Michael Alexander Smith sold 27,130 shares of Insmed stock in a transaction that occurred on Monday, November 3rd. The shares were sold at an average price of $183.78, for a total value of $4,985,951.40. Following the completion of the sale, the insider directly owned 54,902 shares in the company, valued at $10,089,889.56. This represents a 33.07% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 233,650 shares of company stock worth $41,063,785. 3.00% of the stock is currently owned by insiders.

Insmed Profile

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.