Insmed Incorporated (NASDAQ:INSM) Shares Acquired by Rhumbline Advisers
Rhumbline Advisers lifted its holdings in shares of Insmed Incorporated (NASDAQ:INSM) by 6.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,829 shares of the biopharmaceutical company’s stock after acquiring an additional 7,409 shares during the quarter. Rhumbline Advisers’ holdings in Insmed were worth $2,061,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also bought and sold shares of INSM. State of New Jersey Common Pension Fund D bought a new position in Insmed in the 3rd quarter worth about $1,785,000. Zurcher Kantonalbank Zurich Cantonalbank grew its position in Insmed by 17.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,818 shares of the biopharmaceutical company’s stock worth $103,000 after purchasing an additional 854 shares during the last quarter. International Biotechnology Trust PLC grew its position in Insmed by 224.2% in the 2nd quarter. International Biotechnology Trust PLC now owns 356,600 shares of the biopharmaceutical company’s stock worth $9,111,000 after purchasing an additional 246,600 shares during the last quarter. CVI Holdings LLC bought a new position in Insmed in the 2nd quarter worth about $374,000. Finally, Nuveen Asset Management LLC bought a new position in Insmed in the 2nd quarter worth about $10,241,000.
INSM has been the subject of several recent analyst reports. ValuEngine cut shares of Insmed from a “buy” rating to a “hold” rating in a research report on Tuesday, October 1st. HC Wainwright restated a “buy” rating on shares of Insmed in a research report on Thursday, October 31st. Goldman Sachs Group started coverage on shares of Insmed in a research report on Tuesday, September 3rd. They issued a “buy” rating and a $30.00 target price for the company. Zacks Investment Research lowered shares of Insmed from a “buy” rating to a “hold” rating in a research note on Friday, September 27th. Finally, BidaskClub raised shares of Insmed from a “strong sell” rating to a “sell” rating in a research note on Saturday, November 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $35.88.
Insmed (NASDAQ:INSM) last issued its quarterly earnings results on Wednesday, October 30th. The biopharmaceutical company reported ($0.68) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.67) by ($0.01). The company had revenue of $38.89 million during the quarter, compared to analyst estimates of $35.89 million. Insmed had a negative return on equity of 114.68% and a negative net margin of 291.19%. During the same period in the prior year, the company posted ($1.14) earnings per share. On average, analysts expect that Insmed Incorporated will post -2.91 earnings per share for the current year.
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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