Insmed Incorporated (NASDAQ:INSM) Shares Bought by Ally Bridge Group NY LLC

Ally Bridge Group NY LLC increased its stake in shares of Insmed Incorporated (NASDAQ:INSM) by 16.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,833 shares of the biopharmaceutical company’s stock after buying an additional 21,833 shares during the period. Insmed accounts for approximately 5.9% of Ally Bridge Group NY LLC’s holdings, making the stock its biggest holding. Ally Bridge Group NY LLC owned about 0.08% of Insmed worth $11,011,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Nisa Investment Advisors LLC increased its stake in shares of Insmed by 8.2% in the 2nd quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock valued at $119,000 after buying an additional 135 shares during the period. CIBC Asset Management Inc boosted its holdings in Insmed by 3.5% in the third quarter. CIBC Asset Management Inc now owns 4,438 shares of the biopharmaceutical company’s stock valued at $324,000 after acquiring an additional 149 shares during the last quarter. CWM LLC increased its position in Insmed by 11.0% in the second quarter. CWM LLC now owns 1,570 shares of the biopharmaceutical company’s stock worth $105,000 after purchasing an additional 155 shares during the period. Commerce Bank raised its holdings in Insmed by 2.4% during the 3rd quarter. Commerce Bank now owns 6,833 shares of the biopharmaceutical company’s stock worth $499,000 after purchasing an additional 163 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Insmed by 71.3% during the 3rd quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock valued at $39,000 after purchasing an additional 224 shares during the period.

Insider Activity at Insmed

In other Insmed news, insider Orlov S. Nicole Schaeffer sold 37,575 shares of Insmed stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $71.50, for a total value of $2,686,612.50. Following the sale, the insider now directly owns 100,100 shares in the company, valued at approximately $7,157,150. The trade was a 27.29 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Martina M.D. Flammer sold 13,436 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $74.92, for a total transaction of $1,006,625.12. Following the transaction, the insider now owns 106,134 shares of the company’s stock, valued at approximately $7,951,559.28. This represents a 11.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 78,882 shares of company stock valued at $5,765,446. 4.60% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Bank of America lifted their price target 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. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Insmed in a report on Monday, September 9th. UBS Group raised their price target on Insmed from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. TD Cowen upped their price objective on Insmed from $75.00 to $98.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, StockNews.com cut Insmed from a “hold” rating to a “sell” rating in a report on Friday, August 9th. One analyst has rated the stock with a sell rating and sixteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.67.

Insmed Trading Up 0.3 %

Shares of NASDAQ:INSM opened at $75.88 on Thursday. The firm has a market cap of $13.57 billion, a price-to-earnings ratio of -13.67 and a beta of 1.12. Insmed Incorporated has a 12 month low of $21.92 and a 12 month high of $80.53. The company’s fifty day simple moving average is $72.16 and its 200 day simple moving average is $67.34. The company has a quick ratio of 5.99, a current ratio of 6.37 and a debt-to-equity ratio of 2.03.

Insmed (NASDAQ:INSM) last released its quarterly earnings results on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to analysts’ expectations of $93.36 million. Insmed’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned ($1.10) earnings per share. As a group, research analysts forecast that Insmed Incorporated will post -5.42 EPS for the current fiscal 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.