Tidal Investments LLC Acquires 19,696 Shares of Insmed Incorporated (NASDAQ:INSM)

Tidal Investments LLC lifted its holdings in Insmed Incorporated (NASDAQ:INSM) by 447.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 24,102 shares of the biopharmaceutical company’s stock after buying an additional 19,696 shares during the quarter. Tidal Investments LLC’s holdings in Insmed were worth $1,759,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. V Square Quantitative Management LLC bought a new position in shares of Insmed in the third quarter valued at about $30,000. GAMMA Investing LLC increased its position in Insmed by 71.3% in the third quarter. GAMMA Investing LLC now owns 538 shares of the biopharmaceutical company’s stock worth $39,000 after purchasing an additional 224 shares during the period. First Horizon Advisors Inc. increased its position in Insmed by 83.4% in the second quarter. First Horizon Advisors Inc. now owns 631 shares of the biopharmaceutical company’s stock worth $42,000 after purchasing an additional 287 shares during the period. Exchange Traded Concepts LLC increased its position in Insmed by 522.5% in the third quarter. Exchange Traded Concepts LLC now owns 747 shares of the biopharmaceutical company’s stock worth $55,000 after purchasing an additional 627 shares during the period. Finally, Nisa Investment Advisors LLC increased its position in Insmed by 8.2% in the second quarter. Nisa Investment Advisors LLC now owns 1,778 shares of the biopharmaceutical company’s stock worth $119,000 after purchasing an additional 135 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages recently commented on INSM. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of Insmed in a research report on Friday, November 1st. Bank of America lifted 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. JPMorgan Chase & Co. lifted their price objective on Insmed from $74.00 to $83.00 and gave the stock an “overweight” rating in a research report on Friday, November 22nd. Truist Financial restated a “buy” rating and set a $105.00 target price (up from $100.00) on shares of Insmed in a research report on Friday, November 1st. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Insmed in a research report on Monday, September 9th. One 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, Insmed currently has an average rating of “Moderate Buy” and an average target price of $83.67.

Insmed Price Performance

Shares of INSM opened at $73.85 on Wednesday. The company has a debt-to-equity ratio of 2.03, a quick ratio of 5.99 and a current ratio of 6.37. The stock has a 50 day simple moving average of $72.44 and a 200 day simple moving average of $71.56. Insmed Incorporated has a 52-week low of $21.92 and a 52-week high of $80.53. The firm has a market capitalization of $13.21 billion, a PE ratio of -13.31 and a beta of 1.10.

Insmed (NASDAQ:INSM) last issued its quarterly earnings data 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 company had revenue of $93.40 million during the quarter, compared to analyst estimates of $93.36 million. During the same period in the previous year, the company earned ($1.10) EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Sell-side analysts predict that Insmed Incorporated will post -5.44 EPS for the current fiscal year.

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.