Bank of New York Mellon Corp Has $5.68 Million Stake in Insmed, Inc. (INSM)
Bank of New York Mellon Corp increased its stake in Insmed, Inc. (NASDAQ:INSM) by 5.2% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 330,873 shares of the biopharmaceutical company’s stock after acquiring an additional 16,379 shares during the period. Bank of New York Mellon Corp owned approximately 0.53% of Insmed worth $5,677,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. SG Americas Securities LLC purchased a new position in Insmed in the second quarter valued at $129,000. Driehaus Capital Management LLC acquired a new position in Insmed during the 1st quarter worth $192,000. Parametric Portfolio Associates LLC grew its stake in Insmed by 39.2% during the 1st quarter. Parametric Portfolio Associates LLC now owns 14,417 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 4,063 shares in the last quarter. Moody Aldrich Partners LLC grew its stake in Insmed by 37.7% during the 2nd quarter. Moody Aldrich Partners LLC now owns 21,410 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 5,860 shares in the last quarter. Finally, Stoneridge Investment Partners LLC acquired a new position in Insmed during the 2nd quarter worth $520,000. Institutional investors and hedge funds own 73.08% of the company’s stock.
In related news, Director Melvin Md Sharoky sold 50,000 shares of the stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $27.37, for a total value of $1,368,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Donald J. Hayden, Jr. sold 45,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $29.67, for a total value of $1,335,150.00. Following the completion of the transaction, the director now directly owns 71,131 shares of the company’s stock, valued at approximately $2,110,456.77. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
INSM has been the topic of a number of analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and issued a $43.00 price target (up previously from $27.00) on shares of Insmed in a research report on Wednesday, September 6th. Cowen and Company reiterated an “outperform” rating and issued a $54.00 price objective on shares of Insmed in a research note on Wednesday, September 6th. HC Wainwright reiterated a “buy” rating on shares of Insmed in a research note on Wednesday, August 2nd. BidaskClub downgraded Insmed from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Finally, Evercore ISI boosted their price objective on Insmed from $28.00 to $40.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and six have given a buy rating to the company. Insmed presently has an average rating of “Buy” and an average target price of $34.50.
Insmed, Inc. (NASDAQ INSM) opened at 31.08 on Wednesday. Insmed, Inc. has a 12-month low of $10.21 and a 12-month high of $31.84. The stock’s market cap is $1.94 billion. The company has a 50-day moving average price of $22.52 and a 200 day moving average price of $18.13.
Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the consensus estimate of ($0.63) by ($0.09). On average, equities research analysts predict that Insmed, Inc. will post ($2.70) EPS for the current year.
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Insmed Incorporated is a biopharmaceutical company. The Company operates through development and commercialization of therapies for patients with rare diseases segment. Its lead product candidate is ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for adult patients with treatment refractory nontuberculous mycobacteria (NTM) lung disease caused by Mycobacterium avium complex (MAC).
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