Tudor Investment Corp ET AL cut its position in Insmed, Inc. (NASDAQ:INSM) by 31.5% during the first quarter, Holdings Channel reports. The firm owned 15,667 shares of the biopharmaceutical company’s stock after selling 7,220 shares during the period. Tudor Investment Corp ET AL’s holdings in Insmed were worth $274,000 at the end of the most recent quarter.
Other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of Insmed during the fourth quarter worth about $3,635,000. Vanguard Group Inc. raised its stake in shares of Insmed by 4.8% in the first quarter. Vanguard Group Inc. now owns 3,781,483 shares of the biopharmaceutical company’s stock worth $66,214,000 after buying an additional 173,532 shares during the period. C WorldWide Group Holding A S bought a new stake in shares of Insmed during the first quarter worth about $2,144,000. State Street Corp raised its stake in shares of Insmed by 4.8% in the first quarter. State Street Corp now owns 1,499,611 shares of the biopharmaceutical company’s stock worth $26,259,000 after buying an additional 68,319 shares during the period. Finally, Pictet Asset Management Ltd. raised its stake in shares of Insmed by 97.2% in the first quarter. Pictet Asset Management Ltd. now owns 124,543 shares of the biopharmaceutical company’s stock worth $2,181,000 after buying an additional 61,400 shares during the period. Institutional investors and hedge funds own 92.00% of the company’s stock.
Shares of Insmed, Inc. (INSM) opened at 17.35 on Tuesday. The company has a 50 day moving average of $16.71 and a 200-day moving average of $16.41. Insmed, Inc. has a 52 week low of $10.21 and a 52 week high of $19.35. The company’s market cap is $1.08 billion.
Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Wednesday, May 3rd. The biopharmaceutical company reported ($0.60) earnings per share for the quarter, meeting the consensus estimate of ($0.60). On average, equities research analysts expect that Insmed, Inc. will post ($2.49) earnings per share for the current fiscal year.
A number of analysts recently issued reports on INSM shares. Zacks Investment Research lowered shares of Insmed from a “buy” rating to a “hold” rating in a research note on Tuesday, May 9th. Stifel Nicolaus restated a “buy” rating and issued a $23.00 price target on shares of Insmed in a research note on Tuesday, April 18th. BidaskClub upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Friday, June 23rd. ValuEngine upgraded shares of Insmed from a “sell” rating to a “hold” rating in a research note on Friday, June 2nd. Finally, Citigroup Inc. restated a “neutral” rating and issued a $17.00 price target (up previously from $14.00) on shares of Insmed in a research note on Sunday, June 11th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $22.00.
In other Insmed news, General Counsel Christine A. Pellizzari acquired 10,000 shares of Insmed stock in a transaction dated Wednesday, May 31st. The stock was bought at an average cost of $15.14 per share, with a total value of $151,400.00. Following the completion of the transaction, the general counsel now owns 27,300 shares of the company’s stock, valued at $413,322. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 5.10% of the stock is currently owned by corporate insiders.
About Insmed
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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