Insmed Inc. (INSM) Shares Bought by Bank of New York Mellon Corp
Bank of New York Mellon Corp increased its position in shares of Insmed Inc. (NASDAQ:INSM) by 0.5% during the second quarter, Holdings Channel reports. The firm owned 287,391 shares of the biopharmaceutical company’s stock after buying an additional 1,397 shares during the period. Bank of New York Mellon Corp owned approximately 0.46% of Insmed worth $2,834,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently modified their holdings of INSM. Norges Bank bought a new position in shares of Insmed during the fourth quarter worth about $8,050,000. Renaissance Technologies LLC bought a new position in shares of Insmed during the first quarter worth about $2,329,000. Alps Advisors Inc. bought a new position in shares of Insmed during the second quarter worth about $857,000. Emerald Mutual Fund Advisers Trust boosted its position in shares of Insmed by 10.0% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 667,848 shares of the biopharmaceutical company’s stock worth $6,585,000 after buying an additional 60,635 shares during the period. Finally, Emerald Advisers Inc. PA boosted its position in shares of Insmed by 7.4% in the second quarter. Emerald Advisers Inc. PA now owns 630,159 shares of the biopharmaceutical company’s stock worth $6,213,000 after buying an additional 43,240 shares during the period. 90.57% of the stock is owned by institutional investors.
Insmed Inc. (NASDAQ:INSM) traded up 4.16% during mid-day trading on Friday, hitting $14.52. 271,004 shares of the stock traded hands. The stock has a 50 day moving average price of $13.63 and a 200 day moving average price of $12.08. The firm’s market cap is $898.45 million. Insmed Inc. has a 12-month low of $9.02 and a 12-month high of $21.14.
Insmed (NASDAQ:INSM) last posted its quarterly earnings results on Thursday, August 4th. The biopharmaceutical company reported ($0.59) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.56) by $0.03. On average, analysts expect that Insmed Inc. will post ($2.25) earnings per share for the current fiscal year.
A number of research analysts have issued reports on INSM shares. Zacks Investment Research raised shares of Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, August 17th. HC Wainwright reaffirmed a “buy” rating on shares of Insmed in a report on Wednesday, June 15th. Finally, Piper Jaffray Cos. reaffirmed an “overweight” rating and issued a $24.00 target price on shares of Insmed in a report on Thursday, June 9th. Two investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. Insmed presently has an average rating of “Buy” and a consensus target price of $23.57.
Insmed Company Profile
Insmed Incorporated is a biopharmaceutical company. The Company operates in the segment of development and commercialization of inhaled therapies for patients with serious lung diseases. The Company’s lead product candidate, ARIKAYCE, or liposomal amikacin for inhalation (LAI), which is in late-stage development for patients with nontuberculous mycobacteria (NTM) lung disease, a rare and often chronic infection that is capable of causing irreversible lung damage and can be fatal.
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