Wealth Enhancement Advisory Services LLC Purchases 307 Shares of Insmed Incorporated (NASDAQ:INSM)

Wealth Enhancement Advisory Services LLC raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,231 shares of the biopharmaceutical company’s stock after acquiring an additional 307 shares during the period. Wealth Enhancement Advisory Services LLC’s holdings in Insmed were worth $223,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the company. Universal Beteiligungs und Servicegesellschaft mbH bought a new stake in Insmed during the fourth quarter valued at about $6,798,000. Mackenzie Financial Corp boosted its holdings in Insmed by 12.5% during the fourth quarter. Mackenzie Financial Corp now owns 10,883 shares of the biopharmaceutical company’s stock valued at $751,000 after acquiring an additional 1,213 shares during the period. GF Fund Management CO. LTD. bought a new stake in Insmed during the fourth quarter valued at about $259,000. Fourth Dimension Wealth LLC bought a new stake in Insmed during the fourth quarter valued at about $278,000. Finally, Vise Technologies Inc. boosted its holdings in Insmed by 6.3% during the fourth quarter. Vise Technologies Inc. now owns 5,634 shares of the biopharmaceutical company’s stock valued at $389,000 after acquiring an additional 336 shares during the period.

Insider Activity at Insmed

In related news, Director Clarissa Desjardins purchased 1,895 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was acquired at an average price of $66.87 per share, with a total value of $126,718.65. Following the completion of the acquisition, the director now directly owns 1,895 shares in the company, valued at approximately $126,718.65. This trade represents a ∞ increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Orlov S. Nicole Schaeffer sold 99,172 shares of the firm’s stock in a transaction that occurred on Wednesday, June 11th. The shares were sold at an average price of $93.42, for a total transaction of $9,264,648.24. Following the completion of the sale, the insider now directly owns 89,407 shares of the company’s stock, valued at approximately $8,352,401.94. This represents a 52.59% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 301,182 shares of company stock valued at $24,289,380 over the last quarter. Corporate insiders own 3.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on INSM. The Goldman Sachs Group upped their price target on shares of Insmed from $100.00 to $112.00 and gave the company a “buy” rating in a report on Wednesday, June 11th. Jefferies Financial Group reiterated a “buy” rating on shares of Insmed in a research note on Tuesday, June 10th. Truist Financial increased their target price on shares of Insmed from $105.00 to $108.00 and gave the company a “buy” rating in a research note on Friday, February 21st. HC Wainwright increased their target price on shares of Insmed from $90.00 to $120.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. Finally, Bank of America increased their target price on shares of Insmed from $94.00 to $109.00 and gave the company a “buy” rating in a research note on Wednesday, June 11th. One equities research analyst has rated the stock with a sell rating and eighteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $104.81.

Insmed Stock Performance

NASDAQ INSM opened at $101.59 on Tuesday. The firm has a market cap of $18.50 billion, a price-to-earnings ratio of -18.17 and a beta of 0.80. The company has a 50 day moving average of $72.14 and a 200-day moving average of $73.78. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. Insmed Incorporated has a 1-year low of $60.40 and a 1-year high of $101.70.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, May 8th. The biopharmaceutical company reported ($1.42) earnings per share for the quarter, missing the consensus estimate of ($1.36) by ($0.06). The firm had revenue of $92.82 million for the quarter, compared to analyst estimates of $91.63 million. Insmed had a negative return on equity of 4,773.73% and a negative net margin of 251.24%. The business’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the business posted ($1.06) EPS. On average, equities analysts forecast that Insmed Incorporated will post -4.56 earnings per share for the current fiscal year.

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.