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.

Shares of NASDAQ INSM opened at $28.99 on Thursday. The firm has a market capitalization of $2.25 billion, a P/E ratio of -6.95 and a beta of 2.98. The company has a current ratio of 4.82, a quick ratio of 4.69 and a debt-to-equity ratio of 2.48. Insmed Incorporated has a 52 week low of $11.31 and a 52 week high of $33.13.

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.

WARNING: “Millennium Management LLC Acquires Shares of 11,115 Insmed Incorporated (INSM)” was first reported by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this report on another site, it was illegally stolen and reposted in violation of United States and international copyright and trademark legislation. The legal version of this report can be viewed at https://www.thecerbatgem.com/2019/05/16/millennium-management-llc-acquires-shares-of-11115-insmed-incorporated-insm.html.

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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