Emerald Mutual Fund Advisers Trust Lowers Position in Insmed, Inc. (INSM)
Emerald Mutual Fund Advisers Trust reduced its position in Insmed, Inc. (NASDAQ:INSM) by 33.1% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 693,362 shares of the biopharmaceutical company’s stock after selling 342,921 shares during the period. Insmed accounts for approximately 0.9% of Emerald Mutual Fund Advisers Trust’s portfolio, making the stock its 29th largest holding. Emerald Mutual Fund Advisers Trust owned approximately 1.11% of Insmed worth $21,640,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. SG Americas Securities LLC bought a new stake in Insmed in the 2nd quarter valued at about $129,000. BNP Paribas Arbitrage SA raised its stake in Insmed by 666.7% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 7,498 shares of the biopharmaceutical company’s stock valued at $129,000 after acquiring an additional 6,520 shares during the period. UBS Asset Management Americas Inc. bought a new stake in Insmed in the 2nd quarter valued at about $187,000. Driehaus Capital Management LLC bought a new stake in Insmed in the 1st quarter valued at about $192,000. Finally, Virtu KCG Holdings LLC bought a new stake in Insmed in the 2nd quarter valued at about $201,000. Institutional investors and hedge funds own 73.07% of the company’s stock.
Insmed (NASDAQ:INSM) last announced its earnings results on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.63) by ($0.09).
In other Insmed news, Director Donald J. Hayden, Jr. sold 45,000 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $29.67, for a total value of $1,335,150.00. Following the transaction, the director now directly owns 71,131 shares of the company’s stock, valued at $2,110,456.77. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Melvin Md Sharoky sold 50,000 shares of the firm’s 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 disclosure for this sale can be found here. Company insiders own 4.03% of the company’s stock.
A number of equities research analysts recently issued reports on the company. BidaskClub cut Insmed from a “sell” rating to a “strong sell” rating in a research note on Monday, August 14th. HC Wainwright restated a “buy” rating on shares of Insmed in a research note on Wednesday, August 2nd. Evercore ISI assumed coverage on Insmed in a research note on Wednesday, August 16th. They issued an “outperform” rating and a $28.00 price objective on the stock. ValuEngine upgraded Insmed from a “sell” rating to a “hold” rating in a research note on Wednesday, September 6th. Finally, Robert W. Baird restated a “positive” rating and issued a $32.00 price objective (up from $23.00) on shares of Insmed in a research note on Wednesday, September 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and six have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $34.50.
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Insmed Company Profile
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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