Abel Hall LLC Purchases 151 Shares of Insmed Incorporated (NASDAQ:INSM)

Abel Hall LLC grew its position in shares of Insmed Incorporated (NASDAQ:INSM) by 4.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,333 shares of the biopharmaceutical company’s stock after purchasing an additional 151 shares during the quarter. Abel Hall LLC’s holdings in Insmed were worth $230,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vestal Point Capital LP raised its holdings in Insmed by 113.3% during the 3rd quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock worth $116,800,000 after purchasing an additional 850,000 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Insmed by 76.8% in the second quarter. Clearbridge Investments LLC now owns 1,644,948 shares of the biopharmaceutical company’s stock valued at $110,212,000 after buying an additional 714,539 shares during the period. TimesSquare Capital Management LLC acquired a new position in Insmed in the third quarter valued at $35,322,000. Assenagon Asset Management S.A. boosted its position in Insmed by 119.2% during the third quarter. Assenagon Asset Management S.A. now owns 857,360 shares of the biopharmaceutical company’s stock valued at $62,587,000 after acquiring an additional 466,306 shares during the last quarter. Finally, Victory Capital Management Inc. raised its position in shares of Insmed by 209.9% in the 3rd quarter. Victory Capital Management Inc. now owns 455,959 shares of the biopharmaceutical company’s stock worth $33,285,000 after acquiring an additional 308,819 shares in the last quarter.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. HC Wainwright reaffirmed a “buy” rating and set a $90.00 target price on shares of Insmed in a research note on Friday, November 1st. JPMorgan Chase & Co. boosted their target price on shares of Insmed from $74.00 to $83.00 and gave the company an “overweight” rating in a research report on Friday, November 22nd. Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up from $100.00) on shares of Insmed in a research note on Friday, November 1st. Finally, Bank of America increased their price objective on shares of Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Price Performance

INSM opened at $78.00 on Thursday. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03. The firm’s fifty day moving average price is $72.28 and its two-hundred day moving average price is $72.97. Insmed Incorporated has a 1 year low of $21.92 and a 1 year high of $80.53.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) EPS for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same quarter in the prior year, the business earned ($1.10) EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. On average, equities analysts anticipate that Insmed Incorporated will post -5.44 EPS for the current year.

Insider Transactions at Insmed

In other news, COO Roger Adsett sold 1,457 shares of the stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $68.72, for a total transaction of $100,125.04. Following the completion of the transaction, the chief operating officer now owns 146,082 shares in the company, valued at approximately $10,038,755.04. This represents a 0.99 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO William Lewis sold 31,805 shares of the business’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $70.18, for a total value of $2,232,074.90. Following the completion of the sale, the chief executive officer now owns 379,534 shares in the company, valued at $26,635,696.12. This represents a 7.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 104,740 shares of company stock worth $7,161,294 in the last ninety days. Company insiders own 4.60% of the company’s stock.

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.