Insmed Incorporated (NASDAQ:INSM) Shares Bought by Fmr LLC

FMR LLC raised its position in shares of Insmed Incorporated (NASDAQ:INSM) by 0.6% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 11,630,784 shares of the biopharmaceutical company’s stock after purchasing an additional 67,250 shares during the period. FMR LLC owned about 14.97% of Insmed worth $338,107,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Raymond James & Associates raised its position in Insmed by 101.9% during the 4th quarter. Raymond James & Associates now owns 57,757 shares of the biopharmaceutical company’s stock valued at $758,000 after purchasing an additional 29,150 shares in the last quarter. Foresite Capital Management IV LLC raised its position in Insmed by 9.8% during the 4th quarter. Foresite Capital Management IV LLC now owns 1,977,236 shares of the biopharmaceutical company’s stock valued at $25,941,000 after purchasing an additional 176,649 shares in the last quarter. SG Americas Securities LLC bought a new stake in Insmed during the 4th quarter valued at $221,000. Federated Investors Inc. PA bought a new stake in Insmed during the 1st quarter valued at $9,825,000. Finally, Bellevue Group AG raised its position in Insmed by 42.9% during the 4th quarter. Bellevue Group AG now owns 809,146 shares of the biopharmaceutical company’s stock valued at $10,616,000 after purchasing an additional 242,845 shares in the last quarter.

In related news, CEO William Lewis sold 400,000 shares of the company’s stock in a transaction dated Tuesday, June 25th. The stock was sold at an average price of $26.00, for a total transaction of $10,400,000.00. Following the transaction, the chief executive officer now directly owns 480,672 shares of the company’s stock, valued at approximately $12,497,472. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Orlov S. Nicole Schaeffer sold 12,000 shares of the company’s stock in a transaction dated Thursday, June 6th. The shares were sold at an average price of $23.24, for a total value of $278,880.00. Following the transaction, the insider now directly owns 36,350 shares in the company, valued at $844,774. The disclosure for this sale can be found here. Insiders own 4.95% of the company’s stock.

A number of brokerages have weighed in on INSM. Zacks Investment Research lowered Zynerba Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Saturday, May 11th. HC Wainwright reaffirmed a “buy” rating and set a $52.00 target price (up from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. ValuEngine lowered Zumiez from a “hold” rating to a “sell” rating in a research report on Tuesday, July 2nd. Finally, BidaskClub lowered Vertex Pharmaceuticals from a “buy” rating to a “hold” rating in a research report on Tuesday, July 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, six have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $37.88.

Shares of INSM traded down $0.56 during trading hours on Friday, hitting $22.72. The company had a trading volume of 735,110 shares, compared to its average volume of 1,024,846. The company has a market cap of $1.76 billion, a P/E ratio of -5.45 and a beta of 2.82. The company has a debt-to-equity ratio of 2.48, a current ratio of 4.82 and a quick ratio of 4.69. Insmed Incorporated has a one year low of $11.31 and a one year high of $33.13. The business’s fifty day moving average price is $24.86.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.94) by ($0.02). The firm had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $19.61 million. Sell-side analysts predict that Insmed Incorporated will post -3.65 earnings per share for the current year.

About Insmed

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.

Read More: Blockchain

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

Receive News & Ratings for Insmed Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Insmed and related companies with MarketBeat.com's FREE daily email newsletter.