Federated Hermes Inc. Buys 219,838 Shares of Insmed, Inc. $INSM

Federated Hermes Inc. boosted its stake in shares of Insmed, Inc. (NASDAQ:INSM) by 202.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 328,223 shares of the biopharmaceutical company’s stock after purchasing an additional 219,838 shares during the quarter. Federated Hermes Inc.’s holdings in Insmed were worth $47,267,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Spire Wealth Management raised its holdings in Insmed by 11.5% in the third quarter. Spire Wealth Management now owns 777 shares of the biopharmaceutical company’s stock worth $112,000 after purchasing an additional 80 shares in the last quarter. MassMutual Private Wealth & Trust FSB grew its position in shares of Insmed by 59.6% in the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 217 shares of the biopharmaceutical company’s stock worth $31,000 after buying an additional 81 shares during the last quarter. Moody Aldrich Partners LLC raised its stake in shares of Insmed by 2.4% during the 3rd quarter. Moody Aldrich Partners LLC now owns 5,551 shares of the biopharmaceutical company’s stock worth $799,000 after acquiring an additional 132 shares in the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in Insmed by 169.7% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 240 shares of the biopharmaceutical company’s stock valued at $38,000 after acquiring an additional 151 shares during the last quarter. Finally, First Horizon Advisors Inc. lifted its position in Insmed by 24.8% during the second quarter. First Horizon Advisors Inc. now owns 936 shares of the biopharmaceutical company’s stock valued at $94,000 after acquiring an additional 186 shares during the last quarter.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Barclays assumed coverage on Insmed in a research report on Tuesday. They set an “overweight” rating and a $231.00 price target on the stock. Guggenheim dropped their target price on Insmed from $230.00 to $221.00 and set a “buy” rating on the stock in a research note on Thursday, December 18th. TD Cowen set a $241.00 price target on Insmed in a research note on Thursday, December 18th. Wolfe Research set a $167.00 price target on Insmed and gave the stock an “outperform” rating in a research note on Thursday, December 18th. Finally, HC Wainwright cut their price objective on shares of Insmed from $240.00 to $230.00 and set a “buy” rating on the stock in a report on Thursday, December 18th. Three research analysts have rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of “Buy” and an average price target of $205.83.

Insmed Stock Up 1.2%

Shares of INSM stock opened at $157.82 on Friday. The stock’s 50-day simple moving average is $181.08 and its 200-day simple moving average is $157.83. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The firm has a market capitalization of $33.66 billion, a PE ratio of -25.50 and a beta of 1.08. Insmed, Inc. has a fifty-two week low of $60.40 and a fifty-two week high of $212.75.

Insmed (NASDAQ:INSM) last released its earnings results on Thursday, October 30th. The biopharmaceutical company reported ($1.75) EPS for the quarter, missing analysts’ consensus estimates of ($1.35) by ($0.40). The firm 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%.The company’s revenue for the quarter was up 52.4% compared to the same quarter last year. During the same period last year, the firm earned ($1.27) EPS. Equities analysts expect that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Activity at Insmed

In other news, Director Leo Lee sold 75,000 shares of the stock in a transaction on Monday, November 17th. The shares were sold at an average price of $195.90, for a total value of $14,692,500.00. Following the sale, the director owned 54,677 shares in the company, valued at $10,711,224.30. This represents a 57.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Orlov S. Nicole Schaeffer sold 87,290 shares of the business’s stock in a transaction on Friday, January 2nd. The shares were sold at an average price of $175.20, for a total transaction of $15,293,208.00. Following the transaction, the insider owned 41,754 shares of the company’s stock, valued at $7,315,300.80. This represents a 67.64% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 296,799 shares of company stock worth $54,296,286 in the last ninety days. 3.00% of the stock is owned by company insiders.

About Insmed

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.