Insmed Incorporated (NASDAQ:INSM) Shares Sold by Mutual of America Capital Management LLC

Mutual of America Capital Management LLC lowered its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 77,116 shares of the biopharmaceutical company’s stock after selling 723 shares during the period. Mutual of America Capital Management LLC’s holdings in Insmed were worth $5,629,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. SG Americas Securities LLC boosted its position in shares of Insmed by 123.1% during the first quarter. SG Americas Securities LLC now owns 8,508 shares of the biopharmaceutical company’s stock worth $231,000 after buying an additional 4,695 shares during the period. Russell Investments Group Ltd. boosted its holdings in Insmed by 15,915.2% during the 1st quarter. Russell Investments Group Ltd. now owns 22,101 shares of the biopharmaceutical company’s stock valued at $600,000 after acquiring an additional 21,963 shares during the period. State Board of Administration of Florida Retirement System grew its position in Insmed by 1.6% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 38,232 shares of the biopharmaceutical company’s stock valued at $1,037,000 after acquiring an additional 610 shares in the last quarter. Vanguard Group Inc. increased its stake in Insmed by 2.7% during the first quarter. Vanguard Group Inc. now owns 14,509,235 shares of the biopharmaceutical company’s stock worth $393,636,000 after purchasing an additional 383,714 shares during the period. Finally, Clearbridge Investments LLC acquired a new stake in shares of Insmed during the first quarter worth about $25,242,000.

Insmed Stock Up 10.7 %

INSM stock opened at $73.72 on Wednesday. The company’s 50 day moving average is $72.03 and its two-hundred day moving average is $65.26. Insmed Incorporated has a twelve month low of $21.92 and a twelve month high of $80.53. The company has a current ratio of 6.37, a quick ratio of 5.99 and a debt-to-equity ratio of 2.03. The stock has a market cap of $13.19 billion, a P/E ratio of -13.28 and a beta of 1.12.

Insmed (NASDAQ:INSM) last announced its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The company had revenue of $93.40 million for the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the business posted ($1.10) earnings per share. Research analysts expect that Insmed Incorporated will post -5.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a research note on Monday, September 9th. Bank of America upped their price objective on Insmed from $84.00 to $86.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. HC Wainwright reiterated a “buy” rating and issued a $90.00 target price on shares of Insmed in a report on Friday, November 1st. Stifel Nicolaus upped their price target on Insmed from $74.00 to $88.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $105.00 price target (up previously from $100.00) on shares of Insmed in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Insmed currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.07.

Insider Activity at Insmed

In related news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of the stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total transaction of $2,686,612.50. Following the completion of the sale, the insider now owns 100,100 shares in the company, valued at $7,157,150. This represents a 27.29 % 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, insider Michael Alexander Smith sold 27,871 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $74.35, for a total value of $2,072,208.85. Following the transaction, the insider now directly owns 67,856 shares in the company, valued at approximately $5,045,093.60. This represents a 29.12 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 78,882 shares of company stock valued at $5,765,446 in the last three months. 4.60% of the stock is currently owned by company insiders.

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.