Millennium Management LLC Acquires Shares of 11,115 Insmed Incorporated (INSM)
Millennium Management LLC acquired a new position in shares of Insmed Incorporated (NASDAQ:INSM) during the 4th quarter, HoldingsChannel.com reports. The firm acquired 11,115 shares of the biopharmaceutical company’s stock, valued at approximately $146,000.
Other hedge funds have also recently bought and sold shares of the company. Amundi Pioneer Asset Management Inc. bought a new position in Insmed during the 4th quarter worth $101,000. Virtu Financial LLC bought a new position in shares of Insmed in the fourth quarter worth $183,000. SG Americas Securities LLC bought a new position in shares of Insmed in the fourth quarter worth $221,000. Virtus ETF Advisers LLC increased its position in shares of Insmed by 23.0% in the fourth quarter. Virtus ETF Advisers LLC now owns 20,606 shares of the biopharmaceutical company’s stock worth $270,000 after purchasing an additional 3,855 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its position in shares of Insmed by 385.1% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 26,006 shares of the biopharmaceutical company’s stock worth $341,000 after purchasing an additional 20,645 shares during the period.
A number of research analysts recently commented on the company. BidaskClub upgraded Insmed from a “hold” rating to a “buy” rating in a research report on Friday, April 5th. HC Wainwright restated a “buy” rating and issued a $52.00 price target (up previously from $43.00) on shares of Insmed in a research report on Tuesday, April 9th. Canaccord Genuity set a $44.00 price target on Insmed and gave the stock a “buy” rating in a research report on Friday, March 8th. ValuEngine cut Insmed from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, February 5th. Finally, JMP Securities upgraded Insmed from a “market perform” rating to an “outperform” rating and set a $40.00 price target on the stock in a research report on Friday, February 15th. Two equities research analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $37.88.
Insmed (NASDAQ:INSM) last released its quarterly earnings data on Tuesday, May 7th. The biopharmaceutical company reported ($0.96) earnings per share for the quarter, missing the consensus estimate of ($0.94) by ($0.02). The company had revenue of $21.90 million during the quarter, compared to analyst estimates of $19.61 million. As a group, equities analysts anticipate that Insmed Incorporated will post -3.57 EPS for the current year.
In related news, Director Donald J. Hayden, Jr. sold 14,900 shares of the firm’s stock in a transaction dated Friday, February 22nd. The stock was sold at an average price of $28.08, for a total value of $418,392.00. Following the sale, the director now directly owns 77,097 shares of the company’s stock, valued at $2,164,883.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Alfred Altomari sold 5,500 shares of the firm’s stock in a transaction dated Tuesday, February 26th. The shares were sold at an average price of $30.00, for a total value of $165,000.00. Following the completion of the sale, the director now directly owns 25,942 shares in the company, valued at $778,260. The disclosure for this sale can be found here. Insiders sold 32,186 shares of company stock worth $942,017 over the last ninety days. 4.95% of the stock is currently owned by insiders.
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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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