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

Tidal Investments LLC boosted its stake in shares of Insmed Incorporated (NASDAQ:INSMFree Report) by 447.0% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,102 shares of the biopharmaceutical company’s stock after purchasing 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.

A number of other large investors have also recently added to or reduced their stakes in INSM. Ally Bridge Group NY LLC boosted its position in shares of Insmed by 16.9% in the third quarter. Ally Bridge Group NY LLC now owns 150,833 shares of the biopharmaceutical company’s stock valued at $11,011,000 after acquiring an additional 21,833 shares during the period. Orion Portfolio Solutions LLC boosted its position in shares of Insmed by 48.5% in the third quarter. Orion Portfolio Solutions LLC now owns 28,087 shares of the biopharmaceutical company’s stock valued at $2,050,000 after acquiring an additional 9,170 shares during the period. Vestal Point Capital LP boosted its position in shares of 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. TimesSquare Capital Management LLC bought a new stake in shares of Insmed in the third quarter valued at approximately $35,322,000. Finally, &PARTNERS bought a new stake in shares of Insmed in the second quarter valued at approximately $300,000.

Insmed Stock Up 0.6 %

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

Insmed (NASDAQ:INSMGet Free Report) last issued its quarterly earnings data on Thursday, October 31st. The biopharmaceutical company reported ($1.27) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.19) by ($0.08). The business had revenue of $93.40 million during the quarter, compared to the consensus estimate of $93.36 million. During the same period in the previous year, the firm posted ($1.10) earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, equities research analysts expect that Insmed Incorporated will post -5.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

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

Get Our Latest Research Report on INSM

Insmed Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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