UBS Asset Management Americas Inc. Invests $187,000 in Insmed, Inc. (INSM) Stock
UBS Asset Management Americas Inc. acquired a new stake in Insmed, Inc. (NASDAQ:INSM) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 10,900 shares of the biopharmaceutical company’s stock, valued at approximately $187,000.
Other large investors also recently added to or reduced their stakes in the company. State of Wisconsin Investment Board purchased a new position in Insmed in the second quarter valued at about $789,000. Emerald Advisers Inc. PA raised its position in Insmed by 23.0% in the second quarter. Emerald Advisers Inc. PA now owns 1,285,365 shares of the biopharmaceutical company’s stock valued at $22,057,000 after purchasing an additional 240,048 shares during the period. Goldman Sachs Group Inc. raised its position in Insmed by 3.8% in the first quarter. Goldman Sachs Group Inc. now owns 289,884 shares of the biopharmaceutical company’s stock valued at $5,076,000 after purchasing an additional 10,519 shares during the period. Pictet Asset Management Ltd. raised its position in Insmed by 5.3% in the second quarter. Pictet Asset Management Ltd. now owns 131,143 shares of the biopharmaceutical company’s stock valued at $2,022,000 after purchasing an additional 6,600 shares during the period. Finally, Vanguard Group Inc. raised its position in Insmed by 4.8% in the first quarter. Vanguard Group Inc. now owns 3,781,483 shares of the biopharmaceutical company’s stock valued at $66,214,000 after purchasing an additional 173,532 shares during the period. 72.78% of the stock is currently owned by institutional investors.
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INSM has been the topic of several research reports. Leerink Swann raised their price objective on Insmed from $27.00 to $36.00 and gave the company an “outperform” rating in a research report on Tuesday, September 5th. BidaskClub lowered Insmed from a “hold” rating to a “sell” rating in a research report on Saturday, August 5th. Zacks Investment Research lowered Insmed from a “buy” rating to a “hold” rating in a research report on Monday, July 17th. ValuEngine lowered Insmed from a “hold” rating to a “sell” rating in a research report on Thursday, August 3rd. Finally, Cowen and Company reaffirmed a “buy” rating and set a $54.00 target price on shares of Insmed in a research report on Friday. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and six have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $34.50.
Shares of Insmed, Inc. (INSM) opened at $30.06 on Tuesday. Insmed, Inc. has a 52-week low of $10.21 and a 52-week high of $31.84. The company has a debt-to-equity ratio of 0.13, a quick ratio of 15.21 and a current ratio of 15.21.
In related news, Director Melvin Md Sharoky sold 50,000 shares of Insmed 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald J. Hayden, Jr. sold 45,000 shares of Insmed 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 completion of the transaction, the director now owns 71,131 shares of the company’s stock, valued at $2,110,456.77. The disclosure for this sale can be found here. 5.10% of the stock is currently owned by insiders.
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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