Squarepoint Ops LLC bought a new position in shares of Insmed Incorporated (NASDAQ:INSM – Free Report) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 50,547 shares of the biopharmaceutical company’s stock, valued at approximately $3,387,000.
A number of other large investors have also made changes to their positions in the stock. Capital International Investors acquired a new position in Insmed during the first quarter worth $43,973,000. Clearbridge Investments LLC purchased a new position in shares of Insmed during the 1st quarter worth $25,242,000. Vestal Point Capital LP acquired a new position in shares of Insmed during the 4th quarter valued at about $27,891,000. Fiera Capital Corp purchased a new stake in shares of Insmed in the second quarter valued at about $40,570,000. Finally, Farallon Capital Management LLC acquired a new stake in Insmed during the second quarter worth about $38,056,000.
Insmed Stock Performance
Shares of INSM stock opened at $72.88 on Wednesday. The firm has a 50 day moving average of $74.22 and a two-hundred day moving average of $54.12. The stock has a market capitalization of $10.83 billion, a PE ratio of -13.82 and a beta of 1.11. The company has a quick ratio of 2.53, a current ratio of 2.71 and a debt-to-equity ratio of 25.05. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $80.53.
Insider Buying and Selling
In other Insmed news, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the completion of the transaction, the insider now owns 106,134 shares in the company, valued at approximately $7,951,559.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $71.50, for a total value of $2,686,612.50. Following the transaction, the insider now owns 100,100 shares in the company, valued at approximately $7,157,150. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Martina M.D. Flammer sold 13,436 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $74.92, for a total value of $1,006,625.12. Following the sale, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 78,882 shares of company stock worth $5,765,446. Company insiders own 4.60% of the company’s stock.
Wall Street Analyst Weigh In
Several analysts have recently weighed in on INSM shares. Truist Financial dropped their price target on shares of Insmed from $88.00 to $85.00 and set a “buy” rating for the company in a research note on Monday, August 12th. HC Wainwright reissued a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Thursday, August 29th. UBS Group lifted their target price on Insmed from $78.00 to $84.00 and gave the company a “buy” rating in a research report on Friday, August 9th. JPMorgan Chase & Co. raised their price objective on Insmed from $55.00 to $72.00 and gave the stock an “overweight” rating in a research report on Thursday, June 20th. Finally, Mizuho boosted their price objective on shares of Insmed from $36.00 to $82.00 and gave the company a “buy” rating in a report on Friday, June 7th. One investment analyst has rated the stock with a sell rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $81.40.
Check Out Our Latest Research Report on Insmed
Insmed Company 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.
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