Wellington Shields & Co. LLC Acquires New Holdings in Insmed, Inc. $INSM

Wellington Shields & Co. LLC bought a new stake in Insmed, Inc. (NASDAQ:INSM) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,950 shares of the biopharmaceutical company’s stock, valued at approximately $569,000.

Several other institutional investors also recently modified their holdings of the stock. Artisan Partners Limited Partnership boosted its holdings in shares of Insmed by 3.0% during the 2nd quarter. Artisan Partners Limited Partnership now owns 3,314,341 shares of the biopharmaceutical company’s stock valued at $333,555,000 after acquiring an additional 97,073 shares in the last quarter. Norges Bank bought a new position in Insmed in the second quarter valued at about $194,728,000. Orbis Allan Gray Ltd acquired a new stake in shares of Insmed during the second quarter valued at about $153,389,000. Eventide Asset Management LLC grew its holdings in shares of Insmed by 1.3% during the second quarter. Eventide Asset Management LLC now owns 1,196,494 shares of the biopharmaceutical company’s stock worth $120,411,000 after purchasing an additional 14,819 shares during the last quarter. Finally, Marshall Wace LLP increased its stake in shares of Insmed by 59.9% in the second quarter. Marshall Wace LLP now owns 1,113,361 shares of the biopharmaceutical company’s stock valued at $112,049,000 after buying an additional 417,124 shares during the period.

Analysts Set New Price Targets

Several research firms recently commented on INSM. UBS Group cut their target price on shares of Insmed from $223.00 to $215.00 and set a “buy” rating on the stock in a research report on Tuesday, January 6th. Roth Mkm raised shares of Insmed to a “strong-buy” rating in a research note on Friday, January 23rd. Wolfe Research set a $167.00 price objective on Insmed and gave the company an “outperform” rating in a report on Thursday, December 18th. The Goldman Sachs Group raised their target price on Insmed from $225.00 to $258.00 and gave the stock a “buy” rating in a research report on Monday, December 15th. Finally, Rothschild & Co Redburn set a $263.00 price target on Insmed in a research report on Thursday, December 4th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have given a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Insmed has an average rating of “Buy” and a consensus target price of $203.45.

Insiders Place Their Bets

In related news, Director Leo Lee sold 75,000 shares of the company’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $195.90, for a total transaction 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William Lewis sold 19,215 shares of Insmed stock in a transaction that occurred on Monday, January 12th. The stock was sold at an average price of $169.00, for a total value of $3,247,335.00. Following the completion of the sale, the chief executive officer owned 306,891 shares of the company’s stock, valued at approximately $51,864,579. The trade was a 5.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 274,857 shares of company stock valued at $50,121,247 over the last 90 days. 3.00% of the stock is owned by company insiders.

Insmed Price Performance

Shares of NASDAQ INSM opened at $149.86 on Friday. The company has a market capitalization of $31.96 billion, a PE ratio of -24.21 and a beta of 1.11. The company has a quick ratio of 4.34, a current ratio of 4.63 and a debt-to-equity ratio of 0.59. Insmed, Inc. has a twelve month low of $60.40 and a twelve month high of $212.75. The firm has a fifty day simple moving average of $174.90 and a 200 day simple moving average of $159.93.

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.