Rhumbline Advisers reduced its stake in Insmed, Inc. (NASDAQ:INSM) by 0.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 72,980 shares of the biopharmaceutical company’s stock after selling 502 shares during the period. Rhumbline Advisers owned 0.12% of Insmed worth $1,252,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Driehaus Capital Management LLC purchased a new stake in Insmed in the first quarter worth about $192,000. Parametric Portfolio Associates LLC grew its holdings in Insmed by 39.2% in the first quarter. Parametric Portfolio Associates LLC now owns 14,417 shares of the biopharmaceutical company’s stock worth $252,000 after purchasing an additional 4,063 shares during the period. Moody Aldrich Partners LLC grew its holdings in Insmed by 37.7% in the second quarter. Moody Aldrich Partners LLC now owns 21,410 shares of the biopharmaceutical company’s stock worth $367,000 after purchasing an additional 5,860 shares during the period. Stoneridge Investment Partners LLC purchased a new stake in Insmed in the second quarter worth about $520,000. Finally, Bank of America Corp DE grew its holdings in Insmed by 191.4% in the first quarter. Bank of America Corp DE now owns 33,804 shares of the biopharmaceutical company’s stock worth $592,000 after purchasing an additional 22,204 shares during the period. 73.08% of the stock is owned by institutional investors.

Shares of Insmed, Inc. (NASDAQ:INSM) opened at 28.50 on Friday. The stock’s market cap is $1.78 billion. The stock’s 50 day moving average is $17.85 and its 200-day moving average is $17.15. Insmed, Inc. has a 12-month low of $10.21 and a 12-month high of $31.39.

Insmed (NASDAQ:INSM) last posted its quarterly earnings data on Thursday, August 3rd. The biopharmaceutical company reported ($0.72) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.63) by ($0.09). Equities analysts expect that Insmed, Inc. will post ($2.70) EPS for the current year.

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In other news, Director Melvin Md Sharoky sold 50,000 shares of the stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $27.37, for a total value of $1,368,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Donald J. Hayden, Jr. sold 45,000 shares of the stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $29.67, for a total transaction of $1,335,150.00. Following the completion of the sale, 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. 4.03% of the stock is owned by corporate insiders.

A number of equities research analysts have weighed in on the stock. Cowen and Company restated an “outperform” rating and issued a $54.00 price objective on shares of Insmed in a report on Wednesday, September 6th. Stifel Nicolaus restated a “buy” rating and issued a $43.00 price objective (up previously from $27.00) on shares of Insmed in a report on Wednesday, September 6th. Robert W. Baird restated a “positive” rating and issued a $32.00 price objective (up previously from $23.00) on shares of Insmed in a report on Wednesday, September 6th. HC Wainwright restated a “buy” rating and issued a $35.00 price objective on shares of Insmed in a report on Wednesday, September 6th. Finally, ValuEngine upgraded shares of Insmed from a “sell” rating to a “hold” rating in a report on Wednesday, September 6th. One analyst has rated the stock with a sell rating, three have given a hold rating and six have given a buy rating to the company’s stock. Insmed has a consensus rating of “Buy” and a consensus price target of $34.50.

Insmed 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).

Institutional Ownership by Quarter for Insmed (NASDAQ:INSM)

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