Wellington Shields Capital Management LLC Buys Shares of 8,472 Insmed, Inc. $INSM

Wellington Shields Capital Management LLC purchased a new position in shares of Insmed, Inc. (NASDAQ:INSM) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 8,472 shares of the biopharmaceutical company’s stock, valued at approximately $1,220,000.

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Insmed by 15.4% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,492 shares of the biopharmaceutical company’s stock valued at $754,000 after purchasing an additional 999 shares during the period. KLP Kapitalforvaltning AS lifted its position in shares of Insmed by 10.5% during the 2nd quarter. KLP Kapitalforvaltning AS now owns 37,800 shares of the biopharmaceutical company’s stock valued at $3,804,000 after buying an additional 3,600 shares during the last quarter. Maryland State Retirement & Pension System bought a new position in shares of Insmed during the 2nd quarter worth $873,000. IFP Advisors Inc grew its stake in shares of Insmed by 29.5% during the 2nd quarter. IFP Advisors Inc now owns 2,423 shares of the biopharmaceutical company’s stock worth $244,000 after acquiring an additional 552 shares during the period. Finally, LRI Investments LLC purchased a new stake in Insmed in the 2nd quarter worth about $59,000.

Analyst Upgrades and Downgrades

Several research firms have commented on INSM. Cantor Fitzgerald upped their price objective on shares of Insmed from $216.00 to $230.00 and gave the company an “overweight” rating in a report on Tuesday, December 16th. HC Wainwright lowered their price target on shares of Insmed from $240.00 to $230.00 and set a “buy” rating on the stock in a research report on Thursday, December 18th. Citigroup reaffirmed an “outperform” rating on shares of Insmed in a report on Thursday, December 18th. Roth Mkm upgraded shares of Insmed to a “strong-buy” rating in a research note on Friday, January 23rd. Finally, Wells Fargo & Company set a $195.00 target price on shares of Insmed in a report on Thursday, December 18th. Three equities research analysts have rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Insmed has a consensus rating of “Buy” and a consensus price target of $203.45.

Insiders Place Their Bets

In other news, COO Roger Adsett sold 791 shares of the business’s stock in a transaction dated Tuesday, February 3rd. The stock was sold at an average price of $156.17, for a total transaction of $123,530.47. Following the completion of the transaction, the chief operating officer owned 106,810 shares of the company’s stock, valued at approximately $16,680,517.70. The trade was a 0.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Michael Alexander Smith sold 640 shares of the company’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was sold at an average price of $156.27, for a total transaction of $100,012.80. Following the completion of the transaction, the insider owned 56,397 shares in the company, valued at approximately $8,813,159.19. This trade represents a 1.12% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 274,857 shares of company stock worth $50,121,247 over the last three months. Corporate insiders own 3.00% of the company’s stock.

Insmed Stock Down 0.8%

Shares of NASDAQ:INSM opened at $149.86 on Friday. The firm has a fifty day moving average price of $174.90 and a two-hundred day moving average price of $159.93. The company has a debt-to-equity ratio of 0.59, a current ratio of 4.63 and a quick ratio of 4.34. Insmed, Inc. has a one year low of $60.40 and a one year high of $212.75. The company has a market cap of $31.96 billion, a price-to-earnings ratio of -24.21 and a beta of 1.11.

Insmed Company Profile

Insmed Incorporated is a biopharmaceutical company focused on developing and commercializing therapies for patients with rare and serious diseases, with a particular emphasis on difficult-to-treat pulmonary infections. Headquartered in Bridgewater, New Jersey, the company concentrates its research and development efforts on targeted drug delivery technologies and novel formulations intended to improve clinical outcomes for patients who have limited treatment options.

The company’s principal marketed product is ARIKAYCE (amikacin liposome inhalation suspension), an inhaled liposomal formulation of the antibiotic amikacin that is approved by the U.S.