Amalgamated Bank Acquires New Stake in Insmed Incorporated (NASDAQ:INSM)

Amalgamated Bank bought a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 11,545 shares of the biopharmaceutical company’s stock, valued at approximately $151,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc increased its stake in shares of Insmed by 2.3% in the third quarter. Vanguard Group Inc now owns 6,802,706 shares of the biopharmaceutical company’s stock worth $137,551,000 after buying an additional 154,130 shares during the last quarter. Vanguard Group Inc. increased its stake in shares of Insmed by 2.3% in the third quarter. Vanguard Group Inc. now owns 6,802,706 shares of the biopharmaceutical company’s stock worth $137,551,000 after buying an additional 154,130 shares during the last quarter. Foresite Capital Management IV LLC increased its stake in shares of Insmed by 9.8% in the fourth quarter. Foresite Capital Management IV LLC now owns 1,977,236 shares of the biopharmaceutical company’s stock worth $25,941,000 after buying an additional 176,649 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Insmed by 6.8% in the fourth quarter. Geode Capital Management LLC now owns 866,489 shares of the biopharmaceutical company’s stock worth $11,368,000 after buying an additional 55,026 shares during the last quarter. Finally, Bellevue Group AG increased its stake in shares of Insmed by 42.9% in the fourth quarter. Bellevue Group AG now owns 809,146 shares of the biopharmaceutical company’s stock worth $10,616,000 after buying an additional 242,845 shares during the last quarter.

INSM has been the subject of a number of research analyst reports. BidaskClub upgraded shares of Insmed from a “hold” rating to a “buy” rating in a research note on Tuesday, January 15th. Canaccord Genuity lifted their price target on shares of Insmed from $20.00 to $32.00 and gave the stock a “buy” rating in a research note on Tuesday, January 15th. They noted that the move was a valuation call. Goldman Sachs Group upgraded shares of Insmed from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $29.00 to $35.00 in a research note on Thursday, January 17th. Zacks Investment Research upgraded shares of Insmed from a “hold” rating to a “buy” rating and set a $28.00 price target for the company in a research note on Tuesday, January 22nd. Finally, ValuEngine upgraded shares of Insmed from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, January 30th. One analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the company. Insmed presently has an average rating of “Buy” and a consensus target price of $37.88.

In other Insmed news, Director Donald J. Hayden, Jr. sold 14,900 shares of the business’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $28.08, for a total transaction of $418,392.00. Following the sale, the director now owns 77,097 shares in the company, valued at approximately $2,164,883.76. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Alfred Altomari sold 5,500 shares of the company’s stock in a transaction dated Friday, February 15th. The shares were sold at an average price of $27.50, for a total value of $151,250.00. Following the completion of the transaction, the director now owns 31,442 shares in the company, valued at approximately $864,655. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 32,186 shares of company stock worth $942,017. Corporate insiders own 4.95% of the company’s stock.

Shares of INSM traded down $0.12 during midday trading on Friday, hitting $28.48. 338,833 shares of the stock traded hands, compared to its average volume of 912,989. The company has a market cap of $2.20 billion, a price-to-earnings ratio of -6.83 and a beta of 2.98. Insmed Incorporated has a 1-year low of $11.31 and a 1-year high of $33.13. The company has a debt-to-equity ratio of 1.52, a quick ratio of 6.42 and a current ratio of 6.51.

Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.94) by ($0.02). The business had revenue of $21.90 million for the quarter, compared to the consensus estimate of $19.61 million. Analysts predict that Insmed Incorporated will post -3.63 EPS for the current year.

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Insmed Company 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.

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Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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