Mcrae Capital Management Inc. Acquires Shares of 27,195 Insmed, Inc. $INSM

Mcrae Capital Management Inc. acquired a new stake in shares of Insmed, Inc. (NASDAQ:INSM) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 27,195 shares of the biopharmaceutical company’s stock, valued at approximately $3,916,000. Insmed comprises approximately 0.8% of Mcrae Capital Management Inc.’s holdings, making the stock its 29th biggest position.

A number of other institutional investors and hedge funds also recently made changes to their positions in INSM. Vanguard Group Inc. lifted its position in Insmed by 13.0% in the 3rd quarter. Vanguard Group Inc. now owns 19,935,820 shares of the biopharmaceutical company’s stock valued at $2,870,957,000 after acquiring an additional 2,291,328 shares in the last quarter. Artisan Partners Limited Partnership raised its stake in shares of Insmed by 3.0% in the second quarter. Artisan Partners Limited Partnership now owns 3,314,341 shares of the biopharmaceutical company’s stock worth $333,555,000 after purchasing an additional 97,073 shares during the last quarter. Norges Bank bought a new position in shares of Insmed in the second quarter valued at approximately $194,728,000. Orbis Allan Gray Ltd purchased a new position in shares of Insmed during the second quarter valued at approximately $153,389,000. Finally, Eventide Asset Management LLC grew its holdings in Insmed by 1.3% during the second quarter. Eventide Asset Management LLC now owns 1,196,494 shares of the biopharmaceutical company’s stock worth $120,411,000 after buying an additional 14,819 shares in the last quarter.

Analyst Upgrades and Downgrades

INSM has been the topic of several recent analyst reports. TD Cowen set a $241.00 price objective on Insmed in a research note on Thursday, December 18th. Cantor Fitzgerald increased their target price on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. Weiss Ratings restated a “sell (d-)” rating on shares of Insmed in a report on Thursday, January 22nd. Truist Financial set a $205.00 price objective on shares of Insmed in a research note on Monday, January 12th. Finally, Jefferies Financial Group set a $269.00 target price on Insmed in a research note on Wednesday, December 10th. Three research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $204.24.

Insmed Stock Performance

Shares of INSM stock opened at $151.11 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 4.34 and a current ratio of 4.63. The firm has a market cap of $32.23 billion, a price-to-earnings ratio of -24.41 and a beta of 1.11. Insmed, Inc. has a 52 week low of $60.40 and a 52 week high of $212.75. The firm’s 50-day simple moving average is $166.45 and its two-hundred day simple moving average is $162.80.

Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, February 19th. The biopharmaceutical company reported ($1.54) EPS for the quarter, missing analysts’ consensus estimates of ($1.07) by ($0.47). Insmed had a negative return on equity of 183.55% and a negative net margin of 264.83%.The company had revenue of $263.84 million during the quarter, compared to the consensus estimate of $263.97 million. As a group, equities analysts forecast that Insmed, Inc. will post -4.56 earnings per share for the current year.

Insider Transactions at Insmed

In other news, CFO Sara Bonstein sold 748 shares of the company’s stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.34, for a total transaction of $116,942.32. Following the transaction, the chief financial officer owned 79,758 shares of the company’s stock, valued at $12,469,365.72. This represents a 0.93% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Michael Alexander Smith sold 640 shares of the stock in a transaction on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total value of $100,012.80. Following the transaction, the insider owned 56,397 shares of the company’s stock, valued at $8,813,159.19. The trade was a 1.12% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 173,253 shares of company stock valued at $29,629,842. Corporate insiders own 3.00% of the company’s stock.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.