Tobam Sells 1,717 Shares of Insmed Incorporated (NASDAQ:INSM)

Tobam lowered its position in Insmed Incorporated (NASDAQ:INSM) by 27.0% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,643 shares of the biopharmaceutical company’s stock after selling 1,717 shares during the quarter. Tobam’s holdings in Insmed were worth $321,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of INSM. Geode Capital Management LLC lifted its position in Insmed by 4.7% in the third quarter. Geode Capital Management LLC now owns 3,813,384 shares of the biopharmaceutical company’s stock worth $278,432,000 after purchasing an additional 172,664 shares during the period. Principal Financial Group Inc. lifted its holdings in shares of Insmed by 12.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,871,890 shares of the biopharmaceutical company’s stock worth $136,648,000 after acquiring an additional 214,130 shares during the period. Vestal Point Capital LP increased its stake in Insmed by 113.3% in the third quarter. Vestal Point Capital LP now owns 1,600,000 shares of the biopharmaceutical company’s stock valued at $116,800,000 after acquiring an additional 850,000 shares during the period. Charles Schwab Investment Management Inc. raised its position in Insmed by 10.5% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,444,266 shares of the biopharmaceutical company’s stock worth $105,431,000 after purchasing an additional 137,670 shares in the last quarter. Finally, Wellington Management Group LLP lifted its stake in Insmed by 2.6% during the third quarter. Wellington Management Group LLP now owns 962,459 shares of the biopharmaceutical company’s stock worth $70,260,000 after purchasing an additional 24,025 shares during the period.

Insider Activity

In related news, insider Martina M.D. Flammer sold 6,172 shares of the stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $63.64, for a total value of $392,786.08. Following the transaction, the insider now directly owns 101,549 shares in the company, valued at $6,462,578.36. This represents a 5.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO William Lewis sold 18,750 shares of the firm’s stock in a transaction that occurred on Thursday, December 19th. The shares were sold at an average price of $69.91, for a total transaction of $1,310,812.50. Following the completion of the transaction, the chief executive officer now directly owns 384,960 shares in the company, valued at approximately $26,912,553.60. The trade was a 4.64 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 401,030 shares of company stock valued at $30,993,629 over the last 90 days. 4.60% of the stock is owned by company insiders.

Insmed Stock Down 1.0 %

Shares of INSM opened at $79.95 on Friday. The business’s fifty day moving average price is $72.79 and its two-hundred day moving average price is $73.10. The firm has a market capitalization of $14.30 billion, a price-to-earnings ratio of -14.41 and a beta of 1.11. Insmed Incorporated has a 52 week low of $21.92 and a 52 week high of $82.04. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37.

Analysts Set New Price Targets

Several research firms have recently weighed in on INSM. JPMorgan Chase & Co. upped their price objective on Insmed from $83.00 to $92.00 and gave the company an “overweight” rating in a research note on Friday. Morgan Stanley increased their price objective on Insmed from $85.00 to $90.00 and gave the stock an “overweight” rating in a research note on Thursday. Truist Financial restated a “buy” rating and issued a $105.00 target price (up previously from $100.00) on shares of Insmed in a research note on Friday, November 1st. HC Wainwright reiterated a “buy” rating and set a $90.00 target price on shares of Insmed in a research report on Friday, November 1st. Finally, Guggenheim boosted their price target on shares of Insmed from $95.00 to $101.00 and gave the company a “buy” rating in a research report on Friday. One investment analyst has rated the stock with a sell rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $85.00.

Insmed 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.